Where are the Loan payment transactions from Square to QuickBooks?

fcharlie125 · ‎May 04, 2022

My client received a loan amount of $1,300 from Square and opted for automatic payment. Each payment is 10.74% of the card sales for the day. In this case, my client was making payments since February 23rd.

The loan amount was recorded as a debit to the checking account and credit to Loan Payable. I need to record a debit to Loan Payable to reduce it, but can't figure out the other side of the entry.

If Square automatically gets paid from the daily card sales, where can I find the transactions/. I've downloaded the payment statement from Square, but cannot find the payment transactions in QuickBooks.

MadelynC · ‎May 04, 2022

I appreciate your time in reaching out to the Community for assistance, @fcharlie125. I’m here to help so you can locate your loan payment transactions.

QuickBooks Online depends on the information your bank and third-party app share. You’ll want to contact the Square support team so you can identify where your loan payments are located.

If you connect your Square app to the Banking page, you can select the Refresh button to ensure all transactions will be downloaded. Here are the steps to do it:

Open QuickBooks.
Go to the Transactions or Banking menu, then select the Banking tab.
Click on the account and press Update to refresh.

Once everything is good, you can now categorize your transactions in the program. Then, use this reference to ensure your account are balanced and accurate: Reconcile an account in QuickBooks Online.

Don’t hold back to drop a comment below if you have any other questions or concerns besides your loan payment transactions. I’ll be here to help. Take care always!

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Where are the Loan payment transactions from Square to QuickBooks?

Where are the Loan payment transactions from Square to QuickBooks?

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