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Level 2

Square Capital Loan Transactions


I have Square syncing with my QBO account. I took a Square Capital Loan and every sale takes a percentage of the sale and pays back the loan. The line item with the percentage of the sale used to go to the Loan Payable account and reduce the amount owed on the loan. However, I realized recently that starting in October, this sync stopped working and the percentage of the sale is going to "Uncategorized Expense". I had to manually fix this from October so the loan payable account was reporting the accurate amount left on the loan. 


As of today, the percentage of the sale is still going to this "uncategorized expense" account and I can't find a solution so that it goes to "Loan Payable - Square" instead. Please help! 

5 Comments 5
QuickBooks Team

Square Capital Loan Transactions

Hello, BCS Inc.


I have a solution to help you correct the mapping of your loan transactions. 


It looks like the mapping settings for Square transactions are changed after it stopped working. You'll want to fix the mapping by going to your app settings: 


  1. Go to Apps.
  2. Click the My Apps tab.
  3. Click the Settings link under Sync with Square
  4. Continue Edit next to Basic Settings to change the mapping of your loan percentages. 
  5. Click Save changes.




If you're still having issues with the sync, you can disconnect (from the My Apps page) then reconnect Square again to refresh the connection. 


More details about the Square app integration can be found here: Sync Square with QuickBooks Online


After correcting the mapping, I would recommend checking this article if you need help managing your bank transactions: Categorize and match online bank transactions in QuickBooks Online.


Need help handling other transactions? Please let me know by adding the details of the issue below. I'd be more than happy to assist you again. 


Level 2

Square Capital Loan Transactions

Thank you for your response. There is no option in the basic settings that allow me to set loan percentages. There are only 3 options and that includes:


1. Bank account where Square deposits your money

2. Expense account for fees charged by square

3. Payment method on Square transactions


I also tried disconnecting the app and reconnecting it but that also hasn't solved the issue. Thank you. 



Square Capital Loan Transactions

I appreciate the steps you've tried to fix this, BCS Inc


To have this better checked, I would recommend reaching out to Square Support Team to check with the settings and might have the options to resolve your concerns. 


Also, I'm including these resources on how to handle issues integrating your Square account to QBO:


The Community is always here to help.

Level 1

Square Capital Loan Transactions

Reaching out to Square is pointless - QB creates these apps; Square will just transfer you to QBO.

Level 1

Square Capital Loan Transactions

Square won't help you, the API is written by Quickbooks. 

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