Connecting Square with Xero and your bank

[SCA_Fashion]

Hi. I know that Xero connects with a Square and that’s a plus for me. 

Xero also connects with my bank 

my q is: by connecting Xero with Square and my bank, will I be doubling up the feed into Xero? 

For example if I record a sale. Square will tell Xero. But my bank will also record the sale as money coming in and tell Xero. 

Does that mean a sale will be duplicated? Or is Xero clever enough to know it’s the same one? Thanks!

[Summer2024 · Accepted solution]

Hi @SCA_Fashion ! 

I am sorry for the delay in response here. 

When you connect both Square and your bank to Xero, there is potential for duplication because Square sends sales data to Xero, and your bank feed also records deposits from Square.

However, Xero is designed to help prevent this by allowing you to reconcile transactions. When your Square sales feed enters Xero, it records the transaction details. Then, when the bank deposit arrives (usually as a lump sum minus fees), you can match it to the Square transactions to avoid double counting.

To ensure accuracy, you may need to regularly reconcile transactions in Xero by matching the Square sales to the corresponding bank deposits. If you’re using Square’s automatic sync with Xero, it’s a good idea to review your settings to avoid duplications.

I hope this helps!