Square POS Retail and Quickbooks integration, lacking?

[itadminff]

Hello, We've signed up for Square POS Retail back in September. We're mostly in-store sales and have the Square Register.  All is going fairly well but there's one particular aspect that seems to be lacking on the back-office / accounting side. It is in regard to Square integration with our accounting software:  Quickbooks (in our case, desktop version). We’ve been trying out the CommerceSync.com integration and we can get the sales synced over to QB. However, a key piece of data that we were able to sync over in the past (with our former system, Intuit Quickbooks POS), were the inventory purchase orders so we could easily keep our books up to date with regard to inventory and payments to the vendor. It turns out this is not possible with CommerceSync.com. And as far as I know, it would not even be possible if we were using Quickbooks Online (rather than Desktop). This seems like a rather significant shortcoming. Why is this seemingly not possible? Does anyone know of any integrations that can do this, preferably with Quickbooks Desktop? Please share if you do. I'd appreciate any suggestions or thoughts.

[JJ_]

This sounds like a good question for our Square for Retail team, @itadminff

They can take a look at your account with you to help shine a light here, as they can look at your account alongside you to pinpoint what's going on here. Please reach out by phone or email when you have a moment by logging into your Square account and heading here.

P.S. Welcome to the Seller Community ✨

[homeprogreen]

This should accomplish at least part of what you are describing. I use QuickBooks online with the Square integration to import sales every day. It will let you import the sales including the items sold along with the dollar amount. Keep in mind that I haven’t tested this personally because I track inventory in Square for Retail and only use QuickBooks to track income and expenses. In order for it to work you would need to export your inventory from Square as a CSV file then import that file into your QuickBooks item list. Then when your daily sales syncs from Square every day it should also include the items and adjust the inventory in QuickBooks also. There isn’t any integration that I am aware of to sync the PO’s automatically so that would mean that you would have to enter the PO’s into QuickBooks also in order to keep everything accurate. I only use the Square integration to make the sales input automatic but it has saved me hours each week in book work 

[TwinkleToes]

@itadminff,

I too have recently migrated from QuickBooks POS to Square and would be interested in an affordable integration package to QuickBooks financials that handles both sales and inventory. Doing a more in depth search is something that I decided would have to wait while fine-tuning our day-to-day operations with Square as the foundation. During a quick search, leading up to going live with Square, I found that most of the larger integration packages that state they can handle any/all transactions (inventory as well as sales) were simply not worth the return on investment, especially if you don't need to replicate unnecessary details in your financial software (items, customers, etc.). The following were what led me to this decision while we smooth out the new processes and focus on enhancing our online presence.

With Square being the source of record for maintaining item level inventory, there's no need to keep detail item level inventory balances in QuickBooks. This is how I had the QuickBooks POS integration set up as well, with just a single Inventory asset account, so I concentrated on replicating the transactions based on the Square reporting. Without getting into all the details, the following are the "normal" daily in-store transactions:

• Single Sales Receipt created with aggregate totals for Sales, Discounts, Returns, Cash Payments, Gift Card Sales, Gift Card Payments, Credit Card Processing Fees, etc. The main source for the transaction is the Sales summary report. The sales receipt is set up so that the balance uses the Undeposited Funds account that Square will deposit.
• I actually don't wait to see the deposit before recording it because you know how many business days it will take for the deposit to be made from Square to your account based on your setup for Business/Transfers. I'll make the deposit from Undeposited Funds on the expected date. The confirmation is done when I download my bank's transactions into QuickBooks and match to the register.
• Create a memorized transaction for your Cost of Goods Sold journal entry to debit your Cost of Goods Sold and credit the aggregate inventory account. Enter the journal entry based on the Cost of Goods Sold report under Inventory Reports.
• Because Square doesn't have the same concept of receiving vouchers for the purchase orders, I utilize the notes section of the Square PO to record the information needed to generate the bill in QuickBooks. I copy a text template for each receiving transaction against the PO. The template includes the invoice number, date received, payment date due, inventory cost, vendor discount (when applying to the total invoice and not distributing across the item's unit cost), vendor freight and total invoice cost. It is duplicate effort to create the bill in QuickBooks, but by not requiring item level detail and using aggregate items mapped to the corresponding accounts then it's only a minutes per PO.

Like I stated previously, I would love to find an affordable integration tool that handled everything us small business owners need, but I refuse to pay for one that only does half the job. And because I have to do part of it manually anyway, I've just decided it's part of my daily business practice until I have more time to devote to alternatives. I have thought of spending some time with the Square reports and Excel to automate the QuickBooks transactions to import, but I fear that just the time spent running the report to Excel, running the macros and importing the resulting input file would not save much time in the long run.

The other consideration for me is that I want to stay on QuickBooks desktop as long as possible because my family runs 4 different businesses off the same subscription. There's no discount for multiple company files for the online versions so it would cost me at least triple the cost per year. Unfortunately most of the integration is being focused on everything in the world moving toward online subscriptions.

Sorry I'm not the bearer of better news, but figured I'd at least share my woes with another business bitten by Intuit's decision to sundown their POS software.

Regards,

Patti

[1mgregorek]

I enjoyed reading your reply.  It's 1 1/2 years later.  What is your procedure now I wonder.  I'm with an all volunteer non-profit who have retail sales, no inventory concerns, consignment sales mostly.  I have been manually entering and this needs to stop!  Square is the POS right now but the app available to Quickbooks Online sounds entirely undependable.

Wishing you the best.

Michelle