🆕 Track external transactions with Custom Payment Methods

[#1]

Hello! I’m Sandhya, a product manager working on new tools for the Square Point of Sale!

I’m excited to announce the launch of a highly-requested feature, Custom Payment Methods. Custom Payment Methods allow you to capture and track payments received from external sources like 3P ordering and delivery providers, non-Square gift cards, memberships, and more. Rather than bucketing these all together under ‘Other’ payment methods, you can now track them on an individual level, keeping your sales, reporting, and staff commissions payouts more accurate and saving you time.

Learn how to set up Custom Payment Methods.

We’re looking forward to hearing how this feature is working for you, and any additional suggestions you may have. 

[ryanwanner]

Nice @SQ_SANDHYA ! This has been a long requested update.

[ehflower]

Excellent! 

[Makai]

I expect to be very happy to see this feature, but:

Question -- Are payments recorded using a Custom Payment Method reported on the Form 1099-K? The Support article on managing 1099-K forms says "Cash sales are not included in the total we report on the Form 1099-K . . ." but is silent on other payment forms (including any using the "other" payment option). If payments by a Custom Payment Method are reported on both the Square 1099-K and a 1099-K issued by the other payment method it could result in the IRS thinking we are under reporting taxable income.