How to reconcile Square Payments with Quickbooks Invoices

Hello Harlow1,

Welcome to the QuickBooks Community. Reconciliation can be a lengthy process and I'm glad you're using QuickBooks to help streamline this process. It's vital you're able to match and reconcile the Square Payments with invoices and I'll be happy to steer you in the right direction. 

In order to ensure the accuracy of your reconciliation, I highly recommend getting in touch with an accounting professional for expert advice on how to handle the transactions so they don't show up as duplicates as you've described above. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, I recommend you to check out these helpful resources with more info about reconciling in QuickBooks:

• Reconcile hub

In the event that you're unable to find a match for your transactions, here are some reasons why that could be: 

• The transaction has not been reconciled.
• The transaction was entered using the same bank account.
• The transaction has not been previously matched to another bank downloaded transaction.
• If it is a deposit or payment received, make sure it is not on the Bank Deposit page (undeposited).

I encourage you to check out this helpful article with more info on how to: Categorize and match online bank transactions in QuickBooks Online. If you have questions, don't hesitate to reach back to me here. Otherwise, I wish you a great rest of the week.

So I am comfortable with reconciling transactions and often have absolutely no issues. The problem comes as Square will ONLY enter as a deposit and I cannot apply it to an invoice. 

The Square removes fees before the amount is deposited into the account which also confuses the books and makes all of our reports very confusing. A payment will never match an invoice amount on Square because there is minimal record of the fees they took and little way to actually balance it. 

Even if I bypass the fees issue, I still cannot match it to an invoice without having a double entry. Sales receipt and invoice 

I see what you’re saying. I highly recommend connecting with an accounting specialist for expert advice on how to handle the matching and reconciling of the transactions in question. This ensures you get expert accounting advice that’ll help keep your books accurate. Otherwise if you’re getting an error or having issues with the functionality of the program, I’m here to assist. Feel free to ask other questions.   

@Harlow1 

Use a 3rd party connector to reconcile Square transactions into QBO.

There's an app for that. I only just now downloaded it so I can't tell you how easy it is to use but it's got to be better than how I've been handling square payments previously.

Go to apps in your qbo menu and look for square.