Question

Applying Square payment to an Invoice

Forum|Forum|5 years ago
January 25, 2021
29 replies
82 views

Hello
I had a customer use credit card on a square mobile POS and the payment went through and deposited into my account fine.

The issue im having is trying to link that payment to the appropriate invoice in quickbooks. I can easily add a manual payment and select Square account but then the payment is accounted for twice by quickbooks (manual entry and the quickbooks entry). How can i link the two? If I wait a day or two will there be a transaction i can match?

Thanks

QuickBooks Online

M

Maybelle_S

QuickBooks Team

Glad to have you here in the Community, @Ptonjalken.

We can delete the payments you've manually entered. This way, you can match the payment to the open invoice.

Here's how:

Go to the Sales menu, and then choose Customers.
Select the customer's name and proceed to the Transaction List tab.
Locate and click the payment to open it.
Click the More option at the bottom, and then choose Delete.
Select Yes to complete the process.

You can also check this article about managing your account register and utilize its related functions: Find, review, and edit transactions in account registers.

I've added this link in case you want to review your transactions after matching them: Find, Review, and Edit Transactions in your Account Register.

If there's anything else I can help you with, please let me know. I'll be around to help. Have a great day!

P

PtonjalkenAuthor

Thanks. That part isnt too hard but how do i go about linking the actual Square payment to the invoice in question once ive deleted the manual entry?

Its in my Chart of Accounts but nothing has come up as a reviewable transaction yet - do i just wait for that to appear and then match? (will it appear?)

Jessica_young

Level 4

Hey there, @Ptonjalken.

I'm happy to take a look at this with you today.

If the Square payment synced as an unapplied payment, it should just link it to the invoice through receive payment.

Alternatively, if it was synced as a deposit, you can post it to AR account and link it to the invoice.

If it's already synced as a sales receipt you can delete the related invoice instead and keep the sales receipt since that's already a sales transaction and we don't want to double post the income account.

Has this happened with Square transactions in the past, or is this the first one you've received?

I'd love to hear how this goes! Please reach back out if you have remaining questions on this or anything else.

A

AngelicaR

I have a similar question regarding QuickBooks Desktop Enterprise. We invoice our customers through QuickBooks. So our invoices are generated prior to a credit card payment being received. We recently switched from QuickBooks POS to Square and the payments are being deposited just fine. However, how do you post a Square credit card payment to an existing invoice in Desktop Enterprise? I've tried contacting Square and they asked me to contact QuickBooks Support. When I contact QuickBooks Support, they can only link me to information about QuickBooks Online and suggest I contact Square. Can anyone here help me?

JasroV

Level 8

Nice to have you in the Community space, @AngelicaR.

I appreciate you for sharing the details with us. To post your Square credit card payment depends on how you set it up in your QuickBooks Desktop (QBDT) software.

If you have a Square bank account set up in your QuickBooks, you can create a credit card credit and use your Square account to post the payment. Let me show you how.

Go to the Banking menu.
Click Enter Credit Card Charges.
Select your Square account from the Credit Card drop-down.
Think the Refund/Credit.
Enter the needed details and click Save and Close when done.

I’d also recommend working with your accountant for further guidance in recording this. This way, we can guarantee your books is well accounted for after recording this. If you’re not affiliated with one, you can visit our ProAdvisor page and look for one from there.

However, if you don’t have a Square bank account, you can use Journal Entry to post the payment. You can work with your accountant in choosing the proper account.

I’m also adding this resource that can guide you effectively in reconciling your accounts in the future: Reconcile an account in QuickBooks Desktop.

You can always tag me in your reply if you have other concerns or questions about recording payments in QuickBooks. I’ll be around to help you. Keep safe.

J

Jenna Nickerson

I'm here to walk you through the process of recording your sales transaction, @info1372.

When you sync your Square app with QuickBooks Online, transactions are automatically downloaded as invoices or payments. If you want to record an invoice, then we'll have to do the following:

• Create an invoice.

• Make a receive payment once your customer paid the invoice.

• Deposit the payment and include the processing fees.

• Match the deposit to the Square transaction downloaded on the Banking page.

Here's how to create an invoice:

1. Go to the + New menu.

2. Select Invoice.

3. Choose the name of the customer in the drop-down list.

4. Enter the other necessary details.

5. Once done, click on Save and close.

After that, let's create a receive payment for the invoice. Make sure to deposit the amount to the Undeposited Funds account. I'll guide you on how.

1. From the + New icon, select Receive Payment.

2. Choose the customer's name from the Customer drop-down menu.

3. Select the Payment Date and Payment method.

4. Under Deposit to, choose Undeposited Funds.

5. From the Outstanding Transactions section, put a checkmark on the invoice you want to pay.

6. Click Save and close.

Then, let's record a bank deposit to include the processing fees by following these steps:

1. From the + New icon, select Bank Deposit.

2. Choose the bank account where you want to deposit the money.

3. On the Select the payments included in this deposit section, put a checkmark on the payment you want to deposit.

4. Under Add funds to this deposit, select the customer's name from the Received From column.

5. Select an expense account from the Account column and then enter the fee as a negative amount.

6. Click Save and close.

Once done, we can now match the deposit to the payment posted on the Banking page.

Here are the steps:

1. Go to the Banking menu and then select Banking.

2. Click the For Review tab.

3. Find the square payment, then click the Match link.

For more information about managing Square transactions in QuickBooks Online, I suggest checking these articles:

• Sync with Square - Default Accounts and Names

• Sync with Square Hub

Additionally, I've added an article that'll help you reconcile your accounts so they match your bank and credit card statements: Reconciliation Guide.

For more questions in recording transactions in QuickBooks Online, feel free to click the Reply button. This way, we'll be able to answer them for you.

We have this issue. The Square App integration imports the payment and auto-creates an invoice from Square (no clients configured in Square - essentially we only use Square as a payment terminal).

The issue we have is that we have, with the nature of the business, is that we create the invoice well in advance for a specific client. Then they opt to pay via Square. We simply want the Square payments to come into to Quickbooks Only via the App integration as unmatched. We do not want Quickbooks to auto-create the square invoices linked to those payments.

How can we do this?

L

Li_R

Dear @Maybelle_S , is this thread still active? The last message from @Jenna Nickerson is exactly what a few people in this conversation were asking, but that question has not been addressed....

When I create an invoice I see "Payment Options Connect to PayPal" but not Connect to Square, so I assume it's not possible. Would it be possible to add this feature on QuickBooks?

F

FateCandylaneT

QuickBooks Team

I'm delighted to have you here sharing your concern about Square payment options on your invoices, Li_R. Let me share insights to help you achieve this matter.

Creating invoices with several payment options is convenient for your customers when paying the invoice received. Please know that QuickBooks is always dependent on the information imported from your banking data to your company file. Thus, to help you enable and connect your Square account to the online program, make sure to link your bank account so QB then downloads your transactions and matches them to your Square entries.

Then, you can set up the Connect to Square app feature on your account. To do this:

Sign in to QuickBooks Online.
Search Connect to Square in Find apps.
Click Get App now and choose Get started.
Select Give permission.
Sign in to Square, then select the Square locations you want to sync.
Find and select the bank account you want to deposit to, then click Next.
Choose whether you want the app to import sales individually, or as a summary of your daily sales. Select Next.
Once done, select a starting date, then click Finish.

After setting up, the Connect to Square app downloads your Square transactions to QuickBooks.

For more detailed information, you can refer to this article: Connect your Square account to QuickBooks Online.

Once everything's ready, you can start reviewing and categorizing your transactions in your account to make sure all data matches your bank and credit card entries.

Moreover, I'm including this guide to help you reconcile your accounts, so they match your bank and credit card statements: Reconcile an account in QuickBooks Online.

Just keep me posted in the comments below if there's anything else you need further assistance with when managing Square integrations or payment options. I'll always be available in this thread to keep you going. Keep safe and have a good one!

S

scottsfirstaid

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