To change these settings, click the drop-down next to each setting and select from the list of available selections from your QuickBooks Online company. On the Review Your Settings page, select Import next to Import Past Transactions to sync past transactions from Square. If you have a QuickBooks Online company and a Square account, you’re ready to get started.

• You can bulk select incoming Square transactions to add or match them in QuickBooks.
• Sign in to your Square account after you have downloaded and installed the app.
• When the transaction is fully pre-filled, you can choose to add it with one action.
• And QuickBooks handles everything for you when it downloads new transactions.

That’s it, you’re one step closer to automating accounting in 5 steps. Create invoices, take photos of receipts or see your company’s activities from the QuickBooks mobile app anytime, anywhere. Every day, an invoice with your daily sales summary will be created in QuickBooks Online. QuickBooks will automatically transfer previous transactions from your Square account once you have finished configuring the settings. Transactions begin downloading into QuickBooks once a company connects to Square via the Connect to Square app.

Step 5: Sync Square inventory with QuickBooks

Here’s why more finance teams are making them part of their everyday toolkit. If you don’t already have them, follow the steps to create new accounts in QuickBooks. You’ll use these to track linking square to quickbooks your Square sales, expenses, and fees.

• Throughout the onboarding process, you’ll have access to Webgility’s expert support team.
• Flexible set-up – Customizable hardware and software products that meet your needs and meet customers wherever they shop – in person, online or social.
• Sales transactions synced from your Square account are recorded as Invoices with linked Payments in QuickBooks.
• At the moment, this integration does not support multiple Square integrations at once.

How does the integration handle reconciliations for Square Payouts, Deposits, and Processing Fees?

Continue exploring the features of Square and QuickBooks to take full advantage of their capabilities. Both platforms offer additional tools and functionalities, such as payroll management, expense tracking, and advanced reporting options. Take the time to familiarize yourself with these features to maximize the potential of your integration. Remember, as your business grows, it’s important to maintain regular updates and ensure that your Square and QuickBooks data stay in sync. Regular maintenance and reconciliations will help you catch any discrepancies or errors quickly, allowing you to address them promptly.

In this article, we’ll walk through what QuickBooks payment links are, how they work, how to set them up, and why they’re a smart choice for growing businesses. You’ll also learn how to use them effectively across your finance workflows and avoid common pitfalls. The global account that can help your company with all things cross-border. Keep in mind, if you don’t import your existing Square product and service items, everything gets a default “Square item” label.

When your Square transactions appear in QuickBooks, you can review and enter them into your accounting software. Fees charged by Square are recorded as line items on Deposits in QuickBooks. Running a report in QuickBooks on the Square Fees account configured in your app settings will give you a summarised view of all fees charged by Square. We recommend keeping the taxes you configure in Square identical to the taxes you configure in QuickBooks, to allow for more accurate matching.

Plus, you’ll have a clear audit trail in case of any questions from the IRS. Integrating Square and QuickBooks gives you real-time insights into your business performance. You can see how much revenue you’re generating, which products are selling best, and where your customers are coming from. This information can help you make data-driven decisions and optimize your operations for growth.

Webgility’s AI-powered assistant gives you instant answers to questions about your customers and business performance. You can ask questions like “What were my top-selling products last month?” or “Which customers have the highest lifetime value?” and get instant, accurate answers. This level of insight can help you make data-driven decisions and optimize your operations for growth. Every business is different, which is why Webgility offers customizable sync settings.

Can the Amaka team help me setting up the integration?

The app will now check your Square account several times per day for the most recent transactions. By using Sync with Square, all your Square transactions are automatically imported. QuickBooks and Intuit’s Sync with Square app are provided by Intuit, and any use of those products or issue arising therefrom is solely between you and Intuit. Square is not responsible for any accounting or tax compliance requirements arising from your use of QuickBooks or Sync with Square. Once a transaction is fully processed/completed through Square, it appears in the For Review tab of the banking screen, usually within 2 hours.

Your sales, fees, taxes, tips and discounts automatically import into QuickBooks overnight, saving you time. The transaction moves under the Reviewed tab once item is matched. Select the existing customer or item and select the Save button. Future transactions from that customer or item will now be mapped to that customer or item in QuickBooks. Going forward, the app checks your Square account several times a day for the latest transactions.

What happens if there’s an error during the syncing process?

Payment links let customers pay instantly, which means you get your money sooner and spend less time following up. A QuickBooks payment link is a simple, secure link that allows customers to pay you online, no invoice required. You can send a link directly to a customer via email, text, or even embed it on your website.

Typical payouts occur the next business day, so you’ll see a payout for each business day in your Square account and in your Square Connector by QuickBooks app. When importing transactions from Square, QuickBooks matches the items in a transaction to products/services within QuickBooks based on the item name. By completing this step, you’ve successfully matched your Square transactions with existing entries in QuickBooks.

Step 2: Click Connect to connect Webgility to QuickBooks Online

Once activated, the app monitors your Square account for all transactions, including sales, refunds, taxes, tips, and discounts. If you are a business owner looking to streamline your financial processes and manage your transactions efficiently, you’re in the right place. Square and QuickBooks, two powerful platforms, can work together seamlessly to help you automate your accounting tasks and simplify your business operations.