When a payment from square is received

LizP1 — Sun, 06 Nov 2022 22:43:39 GMT

When a payment from square is received the amount received in to the bank account is less the square fee. This is causing serious reconciliation problems in Xero.

Is there a possibility that square can invoice the business monthly or weekly for the fees deducted from payments made in that period.

This would allow the invoice and payment to be matched off for the same amount

Thanks

Michael B

Re: When a payment from square is received

Laurie_ — Mon, 07 Nov 2022 00:29:57 GMT

Hi there, @LizP1, thanks for reaching out to us here with your concerns.

What I would recommend in this case is to reach out directly to our Support Team so they can review your recent transfer reports with you. While I can certainly provide some tips to help you reconcile your reports, I won't be able to look at this specific information via the Seller Community platform.

However, you can access this information from your online Square Dashboard by navigating to Balance > View all transfers.

Then, select the transfer date you wish to view. This will open a panel on the right side of your screen that includes a summary of the total processing fees applied to your sales for that period.

Additionally, you can download a tax invoice from your Account & Settings page to help you claim the Goods and Services Tax (GST) paid on your processing fees.

Have a read-through of the above and let me know if you have any further questions here.

Otherwise, you can contact our Support Team at 1800 760 137 (Mon - Fri, 9 am - 5 pm Melbourne time).

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When a payment from square is received

Re: When a payment from square is received