Thank you for reaching out with your question, @gently_heldvint!
As a first step, I recommend contacting our Support Team. They can assist you in reviewing your net sales and transfers. You can reach them by signing in to your account and heading here.
In the meantime, here are some steps you can take to help identify discrepancies between your net sales and transfer amounts:
Review Your Sales Summary
- Sign in to your online Square Dashboard and navigate to Reporting > Reports > Sales Summary.
Square’s Reporting Terminology
- Gross Sales: This is the total product sales within a period, including modifiers. It excludes refunds, discounts, taxes, tips, and physical gift card sales, but includes sales paid with gift cards.
- Total Collected: The complete amount collected from customers, including net product sales, tax, tips, gift card sales, and cash rounding adjustments.
- Net Sales: Gross sales minus discounts and refunds. It excludes gift card sales, taxes, and tips.
- Net Total: The total collected amount after deducting Square’s fees.
- Cash and Other Payment Types: These payments are recorded in your Net Sales, but are not transferred to your bank account. Check the payment type breakdown in your Sales Summary under Total Collected.
- Processing Fees: Ensure you are accounting for Square’s processing fees when reconciling your accounts.
For more details, check out: Get started with Square Analytics and Reporting.
Transfer Cut-Off Times
- Ensure your transfer cut-off time covers your entire trading day. Payments accepted after this time will be included in the next day's transfer.
- For instance, if your transfer cut-off time is 3pm and you process a payment at 4pm, that 4pm payment will not be included in the same day's transfer. Instead, it will be processed in the next transfer cycle.
- To check your transfer cut-off times, sign in to your online Square Dashboard and navigate to Money > Balance > Transfer Settings.
Transfer Reports
- You can check your balance transfers and transfer details from your online Square Dashboard by navigating to Money > Balance > View all Transfers.
- Tap on any transfer in the list to view details, including the transfer mechanism, the last three digits of the bank account where the transfer was sent, the individual card payments included in the transfer and related trace details.
For additional guidance, visit: Match transfers to sales.
Feel free to reach out if you have any more questions!
