Balance shortages?

[DinisIceCream]

Has anyone else here noticed their balances being short?  The transfer balance should be total Card collected minus the fees.  Recently our balance has been short.  Square support created a ticket but has given no feedback or answer.  Has anyone else experienced their balance or transfers being less than they should be?

[Candlestore]

@DinisIceCream ;

Not sure if this applies to you or not, But Squares Deposits (Transfers) are Amount Collected - Square Fees and - Square Loan Payments if you have a loan out with Square.   I missed that when I had a Loan out and though I was short untill I exported the Transer csv file and saw the Square Loan deduction there.

Currently all my transfers do not look short, but will have to look into this now.

[TwinkleToes]

@DinisIceCream, @Candlestore 

Depending upon what your closing time is set to, you might also see the deposit split across two business days. There is typically a message displayed on the Transfer detail screen when this happens. For example, the following was encountered when the close of day time was set to the hours for the brick and mortar location and an invoice payment was received just before midnight. The close of day time was changed to prevent this going forward.

The Transfer detail screen should show you all of the debits/credits that are applied to each individual transfer. The following screen includes both a Square Loan payment and automated deposits into a Square Savings account. The transfer amount has the following calculation:

Gross Sales - Discounts - Returns + Tax + Tips + Gift Card Sales - Fees - Square Loan Payments - Square Savings

Hopefully this helps pinpoint any discrepancies you are seeing.

[DinisIceCream]

I do my transfers manually, not daily.  I take total CARD payments collected minus the FEES to get the total.  I have no loans or other deductions.  For the past 4+ years the totals have always matched.  In the past couple weeks, the balances were $1.50 short and 38 cents short.  I understand these are small amounts but Square has not given me any explanation as to why they don't match.  Their support team confirmed these should match.  So far, they have only said it has been escalated to the technical team.  My worry is that my busy season is starting soon and they discrepancies could get worse.  As of today, my balance available to transfer out is still $1.50 less than my Card sales for the recent time period.  I was trying to insert screen shots here but I am not sure how you embed pictures here.

[DinisIceCream]

How do you get to that Transfer Details screen?  I have never seen this before.

[TwinkleToes]

From the Dashboard, select the Banking menu item and then Balance. Click on the Location. There will be information displayed about any current and upcoming transfers. You can view the details of the upcoming transfer by clicking on it. There are two additional links under the upcoming transfers. Transfer settings will allow you to change the configuration for controlling the transfers (linked bank account, schedule, etc.) View all transfers will allow you to display the details of all historical transfers. This would be the first place you should check to see if the actual bank deposit matches the transfer amount Square is reporting.

[DinisIceCream]

After some more work with Square Support, I found that the "missing" money is the new Gift Cards Activation Fees.  These are not included in the Sales Reports.  I still am unable to locate the screen shot you posted above.  I have to export to Excel then look at the transactions individually.  I am wondering if the screen you show would include the Gift Card activation fees.  Thanks for your feedback!

[Candlestore]

@DinisIceCream ;

If this screen through Balance and Transfer settings does not show the Gift Card Fee, you might be able to see the Gift Card Fee in the Transactions area or export and see all fees associated with the transaction.  This might be where the Gift Card fees are also.  Since this is something new I do not currently have any Fees for a Gift Card sale, to confirm this.

[TwinkleToes]

@DinisIceCream;

Here's a transfer summary that contains just a gift card purchase. It shows the details of both the credit card processing fee and the gift card load fee. Looks like the fees are aggregated together when displaying some of the reporting (sales summary report, etc.), but you will get the breakout when looking at the details of the actual transfer.

[DinisIceCream]

Thank you.  I am hoping to get access to that screen.  Currently, support tells me it is only available for select accounts.  I have to Export all the transactions to Excel then search through the transactions.   They said they are working to roll out the above screen for all users.  So ridiculous.