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How to differentiate two different deposits in bank account
For our school boosters program, we currently take square for spiritwear. We would like to take credit cards for our concessions but need to be able to differentiate in our bank statements which deposits are from spiritwear and which are from concession sales. If we make a new store, will the deposits be marked different?
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I have multiple locations on my account, income is split based on location and deposited into different bank accounts. There are a few options to accommodate what you would like to do.
If you're operating out of a single bank account, I've not found a way to tell the difference from one deposit to the other. However, there is excellent reporting in Square, and you'll easily be able to identify monies belonging to concessions separate from income for spirit wear. Following a simple method Dashboard > Reports > Sales Summary (be certain to select time frame & location). From here, you'll be able to identify income by location and export as a spreadsheet if helpful.
Separately, if you are planning to use different bank accounts, it gets really easy. You can assign a deposit account at the location level. So, concession income would go to one account while spirit wear income would deposit to a different account. Happy to add more color, clarify, or assist further if helpful.
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