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Hi @treasurer63,
Invoices and their corresponding payments created from Square are automatically imported to your QuickBooks Online (QBO), given that you've synced Square to QBO.
As for those payments, the bank fees are already accounted for. If you need to track these in QBO, you'll have to exclude the deposits coming from Square, and create it manually within the system.
Here's how:
Next, we'll need to create an expense account to track these bank fees. Here's how:
You can create an expense transaction at this point. Follow these steps:
Doing all these steps, you've recorded that you received the full amount on any given invoice, as well as recording the bank fees as an expense, keeping your bank balance accurate.
Learn more of the default accounts used by Square in this article: Sync with Square - Default Accounts and Names.
If you have other questions in mind, post them below, and I'll make sure to get back to you.
Hi @treasurer63,
Invoices and their corresponding payments created from Square are automatically imported to your QuickBooks Online (QBO), given that you've synced Square to QBO.
As for those payments, the bank fees are already accounted for. If you need to track these in QBO, you'll have to exclude the deposits coming from Square, and create it manually within the system.
Here's how:
Next, we'll need to create an expense account to track these bank fees. Here's how:
You can create an expense transaction at this point. Follow these steps:
Doing all these steps, you've recorded that you received the full amount on any given invoice, as well as recording the bank fees as an expense, keeping your bank balance accurate.
Learn more of the default accounts used by Square in this article: Sync with Square - Default Accounts and Names.
If you have other questions in mind, post them below, and I'll make sure to get back to you.
Thank you...I got it to work :-)
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