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August 16, 2022
Question

How do you connect your Square Profit First Accounts to QB Online?

  • August 16, 2022
  • 2 replies
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I use Square for all of my sales. They have a Savings Acct. that I have set up where I'm able to have Sub Account for things like COGS, Payroll, Utilities, etc.  So, in Square, I have $5000 saved, allocated to these separate accts. These accts do not show up in QB. I am wanting to know how to integrate the Square Savings Acct., into QB so that I can show the correct income for my P&L. I'm always showing a loss in QB because it is not showing what i have in the Square Savings Acct.  This is totally separate than integrating Square transactions into QB. That part works fine.

2 replies

JenoP
August 16, 2022

Thanks for checking this out in the Community! Let me answer your question about connecting bank accounts, Gwin50.

 

At the moment, you can only connect the main Square account in QuickBooks Online. However, you can set up the savings account in the program. Then, manually import the transactions as a CSV file to make sure everything is recorded. 

 

Here's how:

 

  1. Go to your Chart of Accounts and click New.
  2. Select Bank for Account Type and Savings in the Detail Type section.
  3. Enter all other required information.
  4. Choose Save and close once finished.

 

 

Once done, import the transactions as a CSV file. Here's how:

 

  1. Go to the Banking or Transactions menu and go straight to the Banking tab.
  2. Select Upload transactions and choose Select files.
  3. Look for the CSV file and choose Open.
  4. Click Continue and look for the savings account that you created.
  5. Choose Continue and select a format.
  6. Follow the next prompts to import the file.

 

 

Additional details are also shared in this article: Manually Upload Transactions Into QuickBooks Online.

 

After importing the transactions, you can either use the Add function to save them to your bank register. 

 


You can post reply to let me know if that let you add your transactions from Square Savings into QBO. We're always here to help if you have other questions for us.

Gwin50Author
August 16, 2022

Yes, this method does not work as I cannot export any kind of CSV for Square Savings. I just get a monthly statement of transfers, via a pdf file. What I need to be able to do is to add Square Savings as a bank acct., separately from the Square/QB Integration (that imports all transactions, payroll, square sales, etc.). If I could just add Square Savings as an additional bank acct., so that the balance is there, then I believe that would solve the problem.

Fiat Lux - ASIA
August 16, 2022

Explore pdf2qbo converter tool as a workaround for the time being

https://www.moneythumb.com/?ref=110

 

Fiat Lux - ASIA
August 16, 2022

@Gwin50 

This concept is new to accounting apps and you have to manually register it for each account in QBO. My team is exploring a 3rd party app to automatically integrate Square Savings and QBO for some clients to implement this method.