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emily-winding-wa
December 17, 2021
Question

How can I record Square fees in QB that are deducted from my sale BEFORE Square transfers it into my acct? (ex $100 sale - $2.45 Sq fee = $97.55 into QB acct).

  • December 17, 2021
  • 1 reply
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I have record of the fees I've paid to Square in my Square account, but they transfer the sales monies after they have deducted the fee. So the fees I've paid to Square are not being recorded in QB. Is there a trick to capturing that?

1 reply

J
JonpriL
December 19, 2021

I'm here to help record these fees, @emily-winding-wa.

 

Fees are captured mostly to the category of the download transactions. Namely, the Square account. Let's create an expense to record these fees. I'll show you how.

 

  1. Go to the +New button.
  2. Under VENDORS, select Expense..
  3. Below the CATEGORY column, choose the Square account.
  4. Enter the amount of the fees in question.
  5. Click Save and close.

 

However, I'd still suggest contacting your accountant if you still need the specific name of the category to use. If you haven't yet, you can use this link to find someone near you: Business is better with a ProAdvisor.

 

Also, I've included this article in case you need the reference all about the account used by your transactions from Square: Sync Square with QuickBooks Online.

 

If there's anything else that I can help you with aside from recording fees from Square, please let me know using the Reply option below. I'll surely be around and always ready to assist you. Take care and stay safe!

 

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