Cash Payout (Band Merchandise)

[JazzYYC]

Hello,

We run concerts. We use our square to sell merchandise for our artists. We don't charge a fee so at the end of the night we pay them cash for what was sold. How can we track and reflect this in Square? Should we call this a refund? Can we name this something so that this doesn't affect our gross numbers but is something we can still see as a separate line item? Can we call this an expense somehow?

Thank you for your help. 

[Helen]

@JazzYYC Hi again! There isn't really a way to track how the funds you collect via Square are dispersed. You wouldn't want to refund a payment if you're not actually refunding the money to a cusotmer; and there isn't a way to track expenses with Square - for that you'd need to use third-party accounting software.

You can add a description when you Pay Out from the cash drawer though, would that help for the time being? 

[JazzYYC]

Thank you. That's a great suggestion.

[Helen]

Happy to help! 🙂 Feel free to post again if anything else comes up.