QB Issue Resolution:
Find answers to common questions about Square and QuickBooks Integration
How do I connect my Square account with QuickBooks?
The Square integration is available in the 2013 and 2014 versions of QuickBooks Desktop. If you are interested in integrating with square, and you do NOT have one of these versions, please update to the 2014 version of QuickBooks first.
*Note: The Square integration is not available for QuickBooks POS and QuickBooks for Mac.
Please be sure you are logged in as the QuickBooks company file ADMIN to successfully follow the steps below.
If you use the 2014 version of QuickBooks Desktop:
Click on the “My Company” icon in the top navigation toolbar.
In the “apps, services & subscriptions recommended for you” click on “Square QuickBooks Integration.”
If you use the 2013 version of QuickBooks Desktop:
Click on “My Apps” in the left navigation toolbar.
In the section “Recommended for you” click on “Square QuickBooks Integration.”
Then follow these steps:
Click “Connect my Square Account” and sign in with your Square username and password.
Give Intuit permission to access your Square account.
View and import your transactions following the onscreen instructions
After importing your Square transactions, you will see them recorded in QuickBooks.
Please note that transactions will only become available to import into QuickBooks, as of the day you connect. The application does not support the import of historical transactions.
You will see your Square transactions grouped by day, and the individual sales and refunds from each day. To see the individual transactions, click the triangle on the right side of the daily transaction summary. You have the option to select all transactions, all transactions in a day, or individual transactions. You will be able to import your new transactions once each day when a new batch is available at Midnight PST.
Once you have successfully connected your Square account to QuickBooks you can view transactions available for import by selecting “Square” in your “My Apps” section. A sales receipt will be created for each sale and a Check will be created for each refund processed.
Why do I only see one day of Square transactions available to import into QuickBooks?
The first time you connect your account, we look for the most recent day that you processed transactions. We show you one day of transactions so you can test-drive the import experience. Future transactions will appear the day after you process them with Square (see FAQ “How do I import transactions accepted before I connected my Square account to QuickBooks”). If you haven’t processed transactions within the last 15 days, you won’t see any sales or refunds to import until the day after you process using your Square account. For example, if you processed transactions yesterday, and also one day last week, we will only show your transactions from yesterday. Every day’s transactions thereafter will be available for import.
How do I import transactions accepted before I connected my Square account to QuickBooks?
When you connect your Square account with QuickBooks, you can import the transactions you take with Square going forward. When you first connect your account, we show you the most recent day’s transactions so you can give the experience a test drive. This feature is not able to sync older transactions you processed with Square before you integrated Square with QuickBooks.
How do Square transactions appear in QuickBooks?
Your sales will be recorded as Sales Receipts. You will see transaction amount, the date of the payment, payment method (Square- Card, Square- Cash, Square- Other) and the authorization ID of your transaction. If you applied tax, a tip or a discount to the sale, you will see those amounts as poart of your Sales Receipt as well.
If you processed refunds, these will be recorded as Checks. To view greater detail about your transactions in QuickBooks, you can view your Chart of Accounts to see sales, refunds (categorized as checks), tips, taxes and discounts you processed with Square. For a complete look at your transactions from Square, view your Chart of Accounts.
You can change which accounts you use for your Square transactions by accessing the Square QuickBooks Integration and clicking ‘Settings’ on the bottom of the browser. You can adjust the accounts to use for your Sales, Refunds, Tips and Discounts. Your sales will be automatically deposited into an Undeposited Funds account and you can choose which bank account you want to use for your refund checks.
Can I have multiple Square accounts in my QuickBooks account?
No. You can only have one Square account per QuickBooks account.
If you have multiple QuickBooks companies, you can connect a Square account to each of the QuickBooks companies.
There are no transactions available to download
Your Square transactions can be synced with QuickBooks once a day and will be available at Midnight PST.
If you don’t see any transactions available to import into QuickBooks, it may be that you already synced transactions from the last day or haven’t taken any transactions in the past day.
If you haven’t imported your transactions already, and you have taken transactions, check your account at https://squareup.com/ to confirm your transactions were processed successfully.
What is the “Square Funds” account?
We created the Square Funds asset account to hold your Square transactions until you are ready to transfer them to your bank. This is the default asset account used to account for your refunds. You can modify this in the ‘Settings’ of the Square QuickBooks Integration.
What is the “Square-Other” Payment method?
The Square-Other payment method captures all your Square payments that are not card or cash. For example: Square Gift Cards or checks.
What happens if I edit the transactions I imported from Square?
Once transactions are imported into QuickBooks, the only way to change them is to edit them within QuickBooks. Editing transactions outside of QuickBooks will not update your accounts. if you edit a sales receipt or check in QuickBooks.
How is my Square tax calculated?
If you have recorded taxes as part of your Square transactions, these will be imported into QuickBooks as part of your transactions.
QuickBooks imports the exact tax amount you recorded during the transaction you took with Square.
When you import Square transactions that include tax amounts, it is assumed your tax rate was 10%, but QuickBooks records the tax amount in your books rather than using the percentage to recalculate the tax amount. Therefore, if your tax rate was not 10%, this does not matter, as the correct tax dollar amount is imported from your Square transactions.
You will see a new tax rate if one does not already exist. If only one already exists, you will see that tax rate. If more than one tax rate exists, you will see a 10% tax rate.
Why does my sales receipt show “No Sales Tax Present” in the tax line?
Your sales receipt will show “No Sales Tax Present” in the tax line if you did not calculate tax when you processed a payment with Square.
Where are my Square Items or Customers?/Can I sync my Items or Customers from Square?
By syncing your Square account with QuickBooks, you can import your Square transactions into QuickBooks, but you must manage your Square customers and items separately.
When Can I import my Square transactions?
Square transactions will be available for imiport after Midnight PST on the day after you processed them. When you are ready to import them into QuickBooks, select “Square QuickBooks Integration” from your “My Apps” section and select your transactions to import. Note: Your transactions will sync with QuickBooks when Intuit Sync Manager completes syncing. You can modify your sync settings to sync on a more regular basis.
How can I modify my sync settings?
You can setup Intuit Sync Manager to run automatically to make your Square transactions import to QuickBooks more quickly. Find out how to manager your Intuit Sync Manager settings here.
Can I process transactions with Square inside of QuickBooks?
You can sync transactions you took with Square and import them into QuickBooks, but you cannot process transactions directly in QuickBooks using Square.
If you would like to process transactions in QuickBooks to receive payment on Sales Receipts and Invoices, you can sign up for QuickBooks Payments.
Can I have Square and GoPayment connected to QuickBooks?
Yes! You can import transactions into QuickBooks from both Square and GoPayment. Click here to learn how you can import your GoPayment transactions into QuickBooks.
Resolution for Issue 'Square and QuickBooks Integration FAQ' available: Yes (Solved).
Source: Intuit Community forum.
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