How can I sync the square fees to quickbooks?

Welcome back to the Community, davido.

Let me help you find the Square fees in QuickBooks Online.

By default, Sync with Square automatically imports fees as Square Fees, unless you've set up different mappings on the settings page. You can run a report on Square fees.

Here's how to find it in QuickBooks:

1. Select Accounting on the left pane, then choose Chart of Accounts.
2. Find the account Square Fees (or the account under which you are recording Square fees).
3. Click Run Report.
4. Click any of the Square fees and go to the imported record.

You'll get more details in these articles:

• Sync with Square
• Sync with Square Hub

That should do it. I'm always here if you need anything else. Please leave a comment below if you need any further information. Have a great day.

Thank you for your reply. I know all the square articles. 

I started importing since Jan 1st. All the square deposits showed up in our checking account.

I had checked the square fees multiple times. It was always blank.

The first transaction that was imported correctly with the fee was yesterday. 

Everything else before that does not show up in square fees or anywhere else (I tried the search just based on the fee amount).  

Hellow Davido,

Let's fix the amounts of the transactions from the other day to January 1st. But before we start, I have a question. If they don't have fees, you mean their amounts are greater than their corresponding transactions in your Square account? If that is so, you can edit each deposit and add another line for Square fees. Then, enter the amount in a negative number, so it deducts the deposit amount.

On the other hand, please observe this behavior, and don't hesitate to contact our phone agents if it happens again. They have more tools to investigate this further.

We'll be around if you have more questions.

The net total of the sales is in our checking account.

So lets say the client paid $ 312.50 through square, only $ 303.14 are in the checking account. the fee of $ 9.36 is no where listed in quickbooks. I understand I can enter manually, but what is the point, if we know it can be done. With the only successful transactions record that shows the fee as well came also an email from quickbooks that tells me the transaction went through, no errors. Never received a notification like that before. 

Hi, davido.

Thanks for getting back to us. I'd be glad to help you sync your square fees in QuickBooks Online.

To handle transaction fees in Square, it depends where the square sales are deposited. If it's deposited to the Undeposited funds, follow the steps below:

1. Select the Plus icon (+) on the Toolbar.
2. Under the Customers, choose Receive Payment.
3. Select the Customer name from the drop-down list.
4. Enter the date you were paid in the Payment date field. The field displays the current date, but you can change it, if necessary.
5. Select one of the methods from the drop-down list in the Payment method field.
6. In the Reference Number field, enter the check number.
7. Select Undeposited funds from the Deposit To drop-down list.
8. Select Save and close.

If it's deposited to a different account, then you can just create an Expense. create a transaction and “Add fund to this deposit” and select Square fees from the drop down box, then enter the fees as negative.

Here's how:

1. Click the Plus icon (+) at the top.
2. Under Others, click Bank Deposits.
3. Enter the deposit. Under Account, choose Square Fees.
4. Enter a negative amount, under Amount.
5. Click Save and close.

You may find these articles helpful:

• Sync with Square - Default Accounts and Names.
• https://quickbooks.intuit.com/community/Banking-and-bank-feeds/How-to-record-payments-as-undeposited....

As always, you can contact our customer care agents if you'd like someone to be with you as you go through these steps. They can pull up your account in a secure environment and assist you further. To reach us, please follow these steps:

1. Sign in to your QuickBooks Online Company.
2. Click (?) Help at the upper right corner.
3. At the bottom, click on Contact us.
4. Type in your concern then hit Continue.

Should you need more help with Square fees, feel free to drop a reply below.

I need to put square fees in quick books however i have quick books desktop. this is hard due to I have the insurance pay me for some of the bill and the rest the customer pays a copay. If the customer pays with square there is a fee. So how can I input this into quick books desktop on one invoice? I need to show the insurance paying for some of this bill and customer paying for the other part however square does not give me the full copay due to fees.

Thank you for joining the thread, @JVinsight.

I can guide you on how to record bank fees in QuickBooks Desktop.

Usually, there are multiple ways on how to record bank (Square) fees in QuickBooks Desktop. You can either create an expense account, add the amount when recording a deposit, or during reconciliation.

If you wish to record the fees through expenses or deposits, you need to create an expense account from the Chart of Accounts first.

Here's how:

1. Open your QuickBooks Desktop, then select Chart of Accounts from the Lists menu.
2. Click on the drop-down arrow under Account, then tap on New.
3. Choose Expense, then enter the account's name.
4. Hit Save and Close.

To record a check/expense:

1. Select Write Checks from the Banking tab.
2. Fill in the necessary details, then choose the account created.
3. Enter the amount, then save the transaction.

On the other hand, to add the fees on your deposit:

1. Go to the Banking tab, then select Make Deposits.
2. Choose the payment you want to deposit, then hit OK.
3. Enter the fees (expense account) on the second line.
4. Input the amount, then click Save and Close.

But if you want to input the amount/s during reconciliation, you can enter it on the Service Charge field. For your reference, I recommend opening this link: Reconcile an account in QuickBooks Desktop.

For additional tips about managing banking transactions in QuickBooks Desktop, you can also open the topics from our help articles: Find help with bank feeds and reconciling accounts.

If you need additional help with recording payments and fees, please let me know by adding a comment below. I'm more than happy to help. Have a good one!

@JVinsight 

Explore this app to reconcile your Square transactions into your QBD file.

https:// synder.grsm.io/quickbooks

I was not aware of "Sync with Square". This is great! Is there a similar convenient feature for Stripe, which as I'm guessing Quickbooks is aware is very fast becoming a standard payment processor. 

I don't wish to manually enter processing fees for every transaction, especially since I'll have a lot of them. 

Is there an automated way to do this? 

I was not aware of "Sync with Square". This is great! Is there a similar convenient feature for Stripe, which as I'm guessing Quickbooks is aware is very fast becoming a standard payment processor. 

I don't wish to manually enter processing fees for every transaction, especially since I'll have a lot of them. 

Is there an automated way to do this? 

Hello there, @vicfirth1. Hope you're doing good.

QuickBooks Desktop (QBDT) also allows integration with a number of third-party apps and software.

You can search for the app from the App Center to integrates Stripe with QBDT. Here's how:

1. Go to the Help menu and select App Center:Find More Business Solutions.
2. In the Apps for QuickBooks Desktop Marketplace window, search for Stripe from the field.
3. Then, select the app from the list.
   

Or you can also go directly to this link and search for Stripe: https://desktop.apps.com/home.

If you have further questions about Stripe, you can always contact their customer service team.

Please know that you can always visit here if you have any questions with QuickBooks. I'm always here to help. 

@vicfirth1 

Explore the 3rd party app as I mentioned earlier. You can utilize it to reconcile Square, Stripe and other payment processors into your QBO account easily.

Hi,

Referring to :

By default, Sync with Square automatically imports fees as Square Fees, unless you've set up different mappings on the settings page. You can run a report on Square fees.

Which settings page? I have a General Ledger Account in my Chart of Accounts for Square Fees.

Thank you,

Lauren

I appreciate you posting in this thread to clarify what settings on QuickBooks my peer is referring to mapping Square fees, @FOSILS. From QuickBooks Online's (QBO) Apps menu, you can go to the Connect to Square app tile and click the Kebab menu (three-dot menu) to update your app settings. Let me share some steps on how to view this.

You've mentioned that you're using Sync with Square, to make sure we're on the same boat, are you referring to the Connect to Square app? If so, this is the information I'll have to share with you.

After clicking the Kebab menu, the Advanced section allows you to change the account where you can track the Square fees. Here's how:

1. From the Apps menu, go to Overview.
2. Click the Kebab menu and then select Settings.
3. Go to the Advanced section.
4. Click the Pencil icon from Square merchant fees.
5. Choose the account where you track the fees.
6. Click Save and then hit Save.
   
   
   (view in My Videos)

    

Alternatively, you'll want to go to the Transactions menu in QBO. Then, from the App Transactions tab, click the Kebab menu to update any app settings, like Locations, Items, Customers, and Advanced.

After mapping your Square fees properly, you can go to the QBO's Chart of Accounts and run quick reports for an account you've recently chosen from the Square app settings' Advanced Square merchant fees. Also, check if you have added your Square General Ledger accounts in QBO. If you're not seeing them, create them. Please follow these steps on how to run income/expense quick reports:

1. In QBO, click the Gear/Settings icon.
2. Choose Chart of accounts and then from the Filter by name Search box, type the name of the account.
3. Find the account in question and hit Run report.

Furthermore, take note that for Sales of gift card, Tips, Discount, and Shipping, you can track them as items/services. This means that for each item/service, make sure that the account associated is correct. You can verify it in QuickBooks by following these steps:

1. Go to Sales and then choose Products and Services.
2. Find the Square item in question associated with Sales of gift card, Tips, Discount, or Shipping item, and choose Edit.
3. From the Income account field, review if it's correct, if not make sure to change it.
4. Hit Save and close.
   
   

    

Otherwise, you can contact the Sync to Square app to know how their app data synchronizes with QuickBooks. They might have specific setups that can help integrate the accounts properly in QBO or setups that might not work with what I have shared with Connect to Square.

For more details about connecting your Square account using the Connect to Square app to bring your sales transactions automatically, you can check this article: Connect your Square account to QuickBooks Online. This covers how to add or match transactions that are already in your books and more.

Additionally, to run your financial data like viewing your profit and loss, sales, and balance sheet data, feel free to visit this article for a comprehensive overview: Run a report in QuickBooks Online.

Let me break the ice for you. Have you connected with our QuickBooks Live Expert Assisted team yet? They specialize in simplifying revenue and financial management for you. Check out their services—it's a great resource for making your accounting tasks a breeze!

That's all you'll have to know to keep your Square fees and accounts tracked properly in QBO. If you have more questions about connecting Square apps or any transactions related queries, feel free to ask them here. We're always here to help you achieve your business success, Lauren. Stay safe and have a wonderful day!

Thank you, this is very helpful.

I was quoting a previous question in the first part of my chat.

I followed advise that I needed to upload my Square CSV items into my QB online product and services site and proceed to map the items before I download the Connect to Square app in QB, making sure all the product names and related accounts were identical. Is this correct?

I went ahead and did so. However I had another issue, by the time I completed my mapping and clicked next, I had timed out of QB.Is there a way to see if it was uploaded? I still haven't downloaded the Connect to Square app.

Thanks again!

Lauren

Hi Ariell, Thank you so much for your help. Unfortunately, I will need to redo my mapping. Before I do, I noticed that I have "non inventory or service" as selections in mapping my items. Where is the inventory option? Does it matter if I have all the items mapped to the general ledger accounts correctly? (inventory, COGS, sales)

Thanks,

Lauren

Hello again,

I need to clarify that I was advised not to use inventory in QB from Square due to unresolved issues. In my initial mapping I should only check "Name". Is this correct?

Lauren

Thanks for getting back with the Community, FOSILS.

Inventory features are available for Plus and Advanced subscriptions. If you don't have one of these plans, you can upgrade your subscription any time.

If you're already using a Plus or Advanced plan, you can turn on inventory tracking.

Here's how:
 

1. Use the Gear icon, then go to Account and settings.
2. Access your Sales tab.
3. Click the Pencil (Edit) icon in your Products and services section.
4. Turn on Show Product/Service column on sales forms. You can also activate price rules if you want to set up flexible pricing for things you sell.
5. Turn on both Track quantity and price/rate and Track inventory quantity on hand.
6. Select Save, then Done.

Next, you can add inventory products if necessary.

Inventory is products you sell and track quantities for, while Non-inventory is products or items you buy/sell, but don't need to track quantities of. For example, nuts and bolts you use for installation jobs, but don't sell yourself. The Service option is for services you provide to customers.

When adding new product and service items, in step 9 from our Add product & service items article, you'll choose an account you want to use to track sales from the Income account ▼ drop-down list. You can use an income account QuickBooks has already set up for you, or select + Add new to create a new one. Changing income account mapping isn't retroactive, and changes will only effect future transactions.

If you're unsure of which account to use for a product/service item, have questions about what happens if certain accounts are used, or are unsure of how you should be doing your initial mapping, I'd recommend working with an accounting professional.

If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.

Please feel welcome to send a reply if there's any additional questions. Have a wonderful Monday!