Below are the default account and names that you can use or choose from after setting up your account in Square.
Note: For QuickBooks Online users, the Bank Feed connection to Square is disabled. All users must use the Sync with Square app in order to connect their account to QuickBooks Online. Check out our App center to find the Sync with Square App.
|Default accounts and names|
Note: Any changes in the default account types that are listed will interrupt the connection with the app.
|Products and Services||
What are the different accounts used for my Square transactions?
You'll see an option for Settings when you import your Square transactions along with the default accounts that you can use.
Any discounts which are part of your Square sales will use the account that you set in QuickBooks Settings. To setup a discount account:
- Select the Gear icon at the top, then choose Account and Settings (Company Settings).
- Choose Advanced from the left menu.
- Select the Pencil icon on the right of the Chart of Accounts section.
- From the Discount account drop-down, choose your preferred account.
- Select Save, then choose Done on the bottom right.
What is Square Funds account?
The Square Funds account is the default account that holds all the Square transactions until you are ready to transfer them to your bank.
Why do all my sales go to Square Customer?
Currently, customer data doesn't sync between QuickBooks Online and Square. Because of this, all sales transactions are imported into QuickBooks Online under Square Customer. The connection will automatically create Square Customer within your Customer list upon setup.
What is the Square-Other payment method?
Square-Other captures all of your Square payments that are neither cash nor cards, like Square gift cards or checks.
Why are my Square-Card and Square-Cash transactions separated?
Your Square-Card and Square Cash transactions are separated to make it easier to reconcile with your bank account. Since Square is depositing your card payments in your bank and you are depositing the cash, separating these two accounts ensures that the amounts will match up.
Get more from QuickBooks
Access features like automatic reconciliation and real-time updates by signing in to your QuickBooks Online account and adding payments for free.
Visit QuickBooks Payments website to learn more.