Square transaction details missing on debit from bank account messing up PNL

Bluebox81 · ‎April 25, 2026

My square transaction includes sales, refunds, and a credit card processing fee. The sales were less than the refunds and processing fees. Ending in a debit being taken by square from my bank account. This transaction was pulled over to QBO as an expense showing just the net debit to my account but not the sales or the processing fees. The square integration shows the sales but not the refunds on that transaction. When I match it to my bank account I only get the refund as an expense on my PNL not the credit card processing fees. I tried to make a journal entry to reflect the actual transaction, no dice. I tried to split the bank transaction to show the credit card processing fees, no dice. I tried to change the expense record, also no dice. I have several of these types of transaction from square and it's throwing my PNL off. Does anyone know how I fix this type of transaction?

I'm using the old square integration because that's what was suggested to me when I got QuickBooks in 2025. Do I need to get the new square connector and re-import all my transactions?

Jovelyn_M

Thank you for your efforts in resolving this. QuickBooks relies on the information from your third-party app, processing fees appear as negative amounts to ensure your actual net sales are accurate.

To reflect your Square account correctly, manually create a sales receipt for the gross sales and create an expense for the processing fees. When reconciling, exclude the original entry to avoid doubling your income.

Regarding your last question, yes, switch to the new Square Connector. It provides transaction-level detail and syncs automatically without requiring a history re-import. Just monitor the first few syncs for duplicates.

Additionally, I recommend consulting with your accountant to ensure your books remain accurate and to prevent any issues during the reconciliation process.

If you need further assistance, please don't hesitate to post a reply below!

View solution in original post

Jovelyn_M

Thank you for your efforts in resolving this. QuickBooks relies on the information from your third-party app, processing fees appear as negative amounts to ensure your actual net sales are accurate.

To reflect your Square account correctly, manually create a sales receipt for the gross sales and create an expense for the processing fees. When reconciling, exclude the original entry to avoid doubling your income.

Regarding your last question, yes, switch to the new Square Connector. It provides transaction-level detail and syncs automatically without requiring a history re-import. Just monitor the first few syncs for duplicates.

Additionally, I recommend consulting with your accountant to ensure your books remain accurate and to prevent any issues during the reconciliation process.

If you need further assistance, please don't hesitate to post a reply below!

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Square transaction details missing on debit from bank account messing up PNL

Square transaction details missing on debit from bank account messing up PNL

Square transaction details missing on debit from bank account messing up PNL

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