Understanding the transfers to the bank account

[Lee7]

I see this issue being posted a lot. But i do not see a response that explains it. My question is " why does the balance that is being transferred not includ tips, and taxes collected? The other post states that it is included. But the square report starts at like 1400 in total sales gives the breakdowns of tips, fees, taxes, and only deposits 1200 as the net total. 

[Candlestore]

@Lee7;

If you go to your transactions Tab in your Square Dashboard you would be able to download your Transaction history for the date(s) you choose.  You can download the Transactions as a csv file and open it with excel, google sheets or similar applications.  You can then see your Gross Sales, Taxes, Tips, Sales Tax, Fees etc. and your net deposit amount.  This should show that the amount you collected from Gross Sales - Squares Fees - any Discounts is equal to the deposit amount.

On your Dashboard go to your transactions then Export  then from drop down choose Transactions CSV.

Link here:

dashboard/sales/transactions 

$1200 is 85% of $1400.   So your net fees are 15% which could be high if these are actual numbers and all in person with card present transactions.

If in person  fees are 2.6% plus .10 per transaction or 12.6% on $1.00 sales.

If no card is presented and you manually enter the card number your at 2.9% plus .10 per transaction or 12.9%

But the 15% would be low if you did Virtual or No card Present Transactions.

If you run purchases of $1 with card not present say for Online sales, Virtual Terminal etc. you would be close to 38.5% rate.... 3.5 % no card present + .35 per transaction.

Squares Fees explained:

in-person-payments 

pricing-remote-payments