Match Transfers to Sales

[ScottShores]

Hello.  I'm trying to match the transactions that were included in transfers to my bank to the deposits in my bank account.  I've looked at the help files online, and the bread crumbs to the locations within Square don't seem to match up for me.  I'm not sure if the help files are outdated or if I am just not seeing things.  For instance, I've seen to go to Dashboard -> Balance -> Transfer Reports.  But when I do that, I'm taken to a section where I can see the balance of my Square balance, which is zero because I don't have a Square bank account, and there isn't a 'transfer reports' button.  I'm trying to see the transactions that were included in the transfer from my Square account to my EXTERNAL bank account.  How do I do that?

[ScottShores]

I just looked at my Square export again, as well as my Bank Account transactions, and there doesn't seem to be anything there that easily links the two accounts and respective transactions.  I can see in the Square transactions that there are deposit IDs that are identical, and I would think those would match something in my bank account, but they don't.  The date matches up, sometimes, but not all the time.  Sometimes it's a day off.  There has to be an easier way to match this stuff up.  

[Candlestore]

@ScottShores ;

Follow this link on a Computer :https://squareup.com/dashboard/balances 

Yes it Takes you to Square Balance from your Dashboard.  This Balance is not the Square Checking or Savings Balance this is The Balance of what Square owes you for your Credit Card Processing sales.

Once you follow the above link you will see something that states Locations and either your Locations listed below or Your single Business Location with Square.  Click the Location Name.  This will take you to another Screen.

You will see:

Choose View All Transfers.

Then you will get a screen that shows your last few transfers or you can select a date range to view.  You can also Export these transfers.  Warning the Transfers show each transaction that will need to be added up to = the amount deposited.  So each transaction will show Total sold, Taxes, Discounts, Fees and then finally the Net amount that will be deposited to your account (what Square sent you)  Then the next Transaction will do this for the Transaction so you would need to total all the Net amounts for the matching Deposit Ids to get the amount deposited to your Bank from Square.

As for the Dates being of a Day or two this is normal depending how you have your deposits setup.  For example mine is Next Day, so my Transfer Date might be Tuesdays Date, and my Bank gets the funds on Wednesday --1 day later.  Also my Friday deposits are held over the weekend so my Friday, Saturday and Sunday sales all go in on Monday as 3 deposits.  This is normal, the only time this may differ is because of Bank Holidays which delay deposits also.

[ScottShores]

Thank you, Keith.  I am able to export the transactions, and the export has the name, amount, and deposit ID.  The number of unique deposit IDs equals the number of Square deposits in my bank, and the dates sort of align, so that seems to be the best I can do.  I was just hoping to be able to definitively align a specific Square Deposit ID with the analogous deposit in my bank.  There doesn't seem to be a direct matching ID number.  It'll have to do.  Thank you.

[Candlestore]

Your welcome.

Are you any good with Excel or Google sheets?

You could download the Transactions for a month, open the csv file in either one of those and create a Pivot table based on the Deposit ID, Date and total of Deposits.  

I actually just did this today in Excel by downloading All my transactions since 2019 till now and created this table to show me all my Gross and net deposits and Fees for square.  It even was able to give totals for Months, Quarters, Years.  and now when I add another month to the Folder, I just Right click in a Cell then choose Refresh and it auto updates for me.  Again this is using Excel not Square, but all the data is right from Square.

What I have been doing is I have a program that takes my Square CSV files and imports them to QuickBooks... each sale... and then has the Square Fees deducted and a total for the sale to be placed in a Square Bank account till it hits my real bank account then is transferred to my Bank accounts.  If my Fake Square account ever has a Negative or a Positive number that is not = to todays sales then I have a problem.  So far mine have been right on $ for $.  

[ScottShores]

Hi Keith.  Yes, I'm very good with Excel and decent with Google sheets.  I applied the Unique formula to the downloaded transactions, and then compared that number with the number of Square deposits in the bank, and it was a direct match.  So, since there isn't a direct alphanumeric connection between what Square sent and what the Bank transactions show, I just sort both on date, do a cursory review for reasonable closeness (i.e., either same day or  1-2 days apart), then copy the unique deposit IDs from Square and paste into my Google sheets workbook for our homeowners association (I wish we were using Excel, but it's a small association, so we're using the free stuff).  Thanks for your help here!