Help setting up items to deposit to a specific account

[CivitanRon]

NEW TO SQUARE.   We are trying to set up our items so that each item will transfer to a specific bank account when we do the transfer, regardless of what device it is purchased on. 

For example:   

Regardless of which device its purchased;  ONLINE, or at the PoS or handheld SQUARE Terminal. 

Widget 1,  all sales of this item needs to be deposited into our bank account #1 

Widget 2, all sales of this item needs to be deposited into our bank account #2,

Widget 3, all sales of this item needs to be deposited into our bank account #3. 

Suggestions on how to set this up?

We are thinking locations might work.  We physically only have 1 real location (plus online) but if we say Widget 1 is at location BANK 1, Widget 2 is at location 2 etc.  When we do our transfer we can select BANK 1 and transfer, then BANK 2 and transfer, etc.  

DOES THIS MAKE ANY SENSE ????? Will this work as we expect ?????? 

[Summer2024 · Accepted solution]

Hi @CivitanRon 👋

You're on the right track thinking about locations, but unfortunately, Square doesn't support automatic splitting of sales by item into different bank accounts directly. Locations can be used to separate sales by physical location, but the bank account for all sales linked to a particular location would be the same.

However, there is a potential workaround using Square’s Transfer & Payouts feature. You can assign separate locations to different types of products, and then manually transfer sales from each location to specific bank accounts by selecting the corresponding location for each transfer.

I haven't really seen anyone try to do anything like this before though. 

@JTPets ....do you have any ideas?

[JTPets]

Yeah I can't see a simple way to do this without the location option but that isnt going to work unless you switch locations for each item sale.

You could build a report that outputs what was sold for each item and develop a transfer process externally from square but inside square this feels impossible with todays tools. I don't think even the location idea would work without constant switching on the app