Adding another person to my account?

[Callcodd]

Hi, Newbie here!! Will be working an event whereby two of us will be collecting money and want a separate account for the other person's items as they sell. I have set up categories and items within the categories with her name however there appears to be a way to have her items sold go to her account and my items sold to my account? Is this correct? 

Thank you for your assistance!!

[JK_Fiber_Art]

Hi Callcodd,

Unfortunately you cannot simply add another person to your account and have it work the way you're thinking.  You could add the individual as an employee however, that's probably not a good solution for your scenario either.  What you have to consider is things like fees, taxes and bank deposits - anything the other individual sells is associated with your account and things like processing fees and taxes will be associated with you.  It's best for all that the other person to has their own account.  Just my thoughts of course.

jk

[Callcodd]

Thank you so much for your response. I had a feeling the information provided would be exactly as you discussed. Thank you. 🙂

[VanKalkerFarms]

@Callcodd The way I would do it is to have each of you be a "location".  You can have items shared across locations.  Each location can have its own bank account and TIN for taxes, so your money would be to your own bank account and your 1099-k will be to each of you AND you will still have the benefit of seeing all the info in one Square account.

This is how I have my wholesale and retail businesses separated.

[Candlestore · Accepted solution]

@Callcodd ;

My suggestion would be to have the other seller create a Square account.  And setup their account where your items are in a category with your name.  Then at the end of the day, weekend, week or month, each of you record payments to the other so neither of you get hit with extra taxes at the end of the year, you are just responsible for your own income taxes.  So each of you would be a vendor to the other person so you can sell each others items.  Each of you have your own funds being deposited into your own banks, and you each get your own 1099-k from square.  

If this was one business ein and all funds went to one account, and the other person was similar to your employee you could use the different locations to do this.  But my understanding from your original post is you both have your own business of items to sell and are trying to help the other out by sell your items and theirs.  So whoever has the square account would be hit with the 1099-k and show income for the two sites and the other person would show nothing as an income from Square.  

[Callcodd]

Hi Keith,

Thank you for the above information and discussion! Very Helpful!

Apparently, the other person is not interested in getting an account with Square and will be selling "cash only plus tax" for the craft show. I made the suggestion to start their own account and assist to set it up as you mentioned however, all of this "business stuff" is too daunting and overwhelming for them. I will remove the category, items and location as setup thus far to ensure safety for my account(s).

Again, thank you so much for your assistance!!

Coleen

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