thread Re: GST that is taken prior to the payout in Community Corner

Redeem GST taken from deposits

Old2bold — Sun, 19 May 2019 05:30:30 GMT

I have had GST taken from all my deposits, how do I redeem this if I am not required to pay GST ? I have removed the tax options in my settings now is that ok?

Re: Redeem GST taken from deposits

Callum — Sun, 19 May 2019 22:25:48 GMT

Hi @Old2bold, and welcome to the community!

To clarify, the Tax amount shown in your daily sales summary is not a deduction. It is simply showing the proportion of your sale(s) that you have designated as tax, for record keeping purposes. By default, all Square accounts have GST enabled. For instructions to disable it, visit our Support Centre.

To view your total deposit amounts, and confirm that Square has not deducted this tax, follow these steps:

Visit Deposits in your online Square Dashboard.
Use the date selector near the top-left corner to select a date range of your choice.
Click on the deposit you’d like to view.

Please note that there is a portion of Square’s fee that is shown as GST, as Square is registered for GST. Our quoted processing fees of 1.9% for transactions accepted with a reader or 2.2% for manually-entered transactions is inclusive of GST.

GST that is taken prior to the payout

corella — Mon, 25 Oct 2021 23:40:30 GMT

Hi all. When GST is taken by square prior to out payout, does that then mean we claim it… because we have paid it. And the. We also list it as incoming as we have originally taken it from the client?

Re: GST that is taken prior to the payout

Arie — Mon, 25 Oct 2021 23:52:46 GMT

Hi @corella,

Thanks for writing in, and welcome to the Seller Community 👋

I've merged your question to this thread - check out the Best Answer for clarification on GST in your reports.