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Import Square Into Quickbooks

Import Square Into Quickbooks

If you’re like most business owners, you probably use a variety of software to run your company. QuickBooks Desktop, which helps you track your finances and manage your accounts, is one of the most popular pieces of software. We’ll show you how to quickly import your Square invoices and payments into QuickBooks Desktop in this quick tip.

Connecting your payment platforms to your bookkeeping software is a brilliant move that will propel your company to new heights. More information about Square QuickBooks Integration can be found here.

When it comes to QuickBooks Square Integration, you can achieve complete flexibility as well as neat and accurate automated results in terms of cash flow, profit margins, and other factors.

This article covers Square QuickBooks integration in detail; you can find answers to all your questions about the Square QuickBooks sync in this read.

What is the Square app?

If you’re unfamiliar with the Square app, it’s a mobile payments company that lets customers pay with their phones. Square can be used to purchase goods and services as well as to donate to charity.

Square recently released a QuickBooks Desktop app. This new app allows businesses to import transactions from their Square accounts into their QuickBooks accounts quickly and easily. This is fantastic news for small business owners who rely on QuickBooks to manage their finances.

The Benefits of Square QuickBooks Integration

Square integration with QuickBooks Online will provide numerous advantages to small business owners. Some of the features are as follows:

  • Square invoices, Square payments, and Square deposits can be easily imported into your QuickBooks account. It is not necessary to manually import the payments.
  • If the product name already exists in QuickBooks, you can easily save all the product’s data, including discounts, taxes, tips, and sales data.
  • Credit card payments can be entered as deposits in batches and thus easily reconciled.
  • Square refunds can also be imported into QuickBooks.

How does the Square QuickBooks Desktop software function?

Sign in to your Square account after you have downloaded and installed the app. Then, choose the transactions you want to import into your QuickBooks account. Next, select the “Import Transactions” option to import Square into the QuickBooks desktop. (You can also import transactions from your QuickBooks account into your Square account.) Finally, in QuickBooks, fill in the appropriate fields and click OK. The imported transactions will be added to your QuickBooks account in a matter of minutes.

Connect your Square account to QuickBooks Online by following these steps

Learn how to link your Square account to QuickBooks Online to easily import sales transactions.

Do you accept payments through Square? You can automatically import sales transactions into QuickBooks using the Connect to Square app. QuickBooks then categorizes and matches them to your bank account information. All that remains is for you to review and approve the work.

Here’s how to connect to Square and begin importing transactions.

Step 1: Install QuickBooks

Before you connect to Square, there are a few things you can do to make QuickBooks handle your Square transactions the way you want it to.

Steps to Connect your bank account to QuickBooks:

Connect the bank account that Square uses to deposit money from your sales if you haven’t already. QuickBooks can then sync your bank transactions with your Square transactions.

Square products and services can be imported:

In imported transactions, the Connect to Square app automatically enters “Square item” for product and service names. You only need to change a product or service name once, and the app remembers and uses it in future transactions for the same item. You can, however, avoid this work entirely by importing your product and service items from Square:

  • Open Square and create a CSV file with your products and services.
  • To import products and services from your CSV file, open QuickBooks and follow the steps.

This ensures that the product and service names in QuickBooks correspond exactly to those in Square.

Step 2: Download and install the Connect to Square app

Once QuickBooks is configured to your liking, you can connect it to your Square account.

  • Access your QuickBooks Online account.
  • In the QuickBooks Online app store, go to the Connect to Square page.
  • Choose to Get App Now.
  • Choose to Get Started.
  • You must grant QuickBooks and Square permission to share product details. Choose to Give permission.
  • Enter your Square account login credentials in the new tab that appears, then click Sign in.
  • Choose the Square locations to sync with QuickBooks. Then, using the dropdown menu, select the bank account into which you want to deposit sales from that location. Next should be selected.
  • Select a starting date for the transactions you want to bring in from the dropdown menu. Later, you’ll be able to select which transactions to import into QuickBooks.
  • Choose Finish.

When you have finished configuring the Connect to Square app, it will begin downloading your Square transactions to QuickBooks. The first import could take up to 30 minutes, depending on how many transactions you have.

The app will now check your Square account several times per day for the most recent transactions.

Step 3: Downloading Square transactions

Transactions begin downloading into QuickBooks once a company connects to Square via the Connect to Square app. Individual transactions are downloaded.

  • Keeping track of downloaded transactions
  • Under Banking, select the App Transactions option.
  • Users can examine the date, source, description, category, or match, as well as the amount received.
  • To review the details of transactions downloaded into Quickbooks from Square, click the transaction link under the Individual Transaction section.
  • Please keep in mind that you will be prompted to log into your Square account to view individual transaction details.

For each transaction, the default customer and product descriptions are Square Customer and Square Item, respectively.

Step 4: Go over all your Square transactions

When your Square transactions appear in QuickBooks, you can review and enter them into your accounting software.

  • Go to Bookkeeping, then to Transactions, and finally to App Transactions (Take me there).
  • Choose For review. Your Square transactions are displayed in the list, along with information such as product description, quantity, purchase price, and fee breakdowns.
  • Choose an action for each transaction based on its status:

Mix and match: This transaction is complete and ready to enter into your accounting system. If QuickBooks is linked to the bank account where you deposit Square payments, you can match it to an existing transaction in your books.

Step 4: Examine your Square transactions

When your Square transactions appear in QuickBooks, you can review and add them to your books.

  • Go to Bookkeeping, then Transactions, and finally App Transactions (Take me there).
  • Select Review. Your Square transactions appear in the list, along with details such as product description, quantity, purchase price, and fee breakdowns.
  • Select an action for each transaction based on its status:
  • Mix and Match: This transaction is complete and ready for entry into your accounting system. If QuickBooks is linked to the bank account into which you deposit Square payments, you can match it to an existing transaction in your books. 

Steps to enter historic square payments in QuickBooks Online

QuickBooks will automatically transfer previous transactions from your Square account once you have finished configuring the settings.

If you want to record historic Square Transactions prior to 30 days, you should be aware that if you use online banking to download some of these transactions, it can record up to 90 days of downloads from Square. By the way, you can import previous historical transactions from Square to QuickBooks Online.

How Do I Import Square Into QuickBooks Desktop Quickly?

If you use QuickBooks Desktop to handle your money, you might think about importing your Square transactions. Here’s how to import Square into QuickBooks quickly and effectively:

  • Launch QuickBooks Desktop and navigate to your transactions file.
  • Navigate to the “File” menu and click “Import.”
  • Click the “Square” tab on the “Import Transactions” screen.
  • Choose your bank account from the drop-down menu, and then input your login details.
  • Press the “Next” button.
  • Scroll down to the “Data Format” section on the “Configure Import Options” screen and pick “QFX/OFX.”
  • Click the “Next” button once more.
  • Click the “Finish” button on the “Review and Import Transactions” screen.
  • If any mistakes are found, click the “Fix Errors” option before re-importing the transactions.
  • To close the import window, click the “Close” button.
  • Your Square transactions will now be integrated into your QuickBooks Desktop account.

Things to Expect When You Import Square into QuickBooks Desktop

If you’re a Square user, you’ll be pleased to know that importing your data into QuickBooks Desktop is simple. What you can expect after importing your Square data is as follows:

  • As usual, your transactions will be imported into QuickBooks.
  • All your account information, including customer names and addresses, transactions, and balances, will be available to you.
  • If you require assistance with your QuickBooks data, you can continue to use Square’s excellent customer service.

Accounts receivable and payable will instantly sync, allowing you to begin tracking your finances. In addition, you can enter invoices and track payments in real-time. If you use Square for multiple businesses, you can easily merge your data with QuickBooks Desktop.

Import Square transactions into QuickBooks Desktop for Mac

Learn how to import Square transactions into QuickBooks Desktop for Mac.

QuickBooks allows you to import Square sales data. This way, you can see how your company is doing. Here’s how you do it.

Download your Square sales data

To begin, export your Square transactions:

Note: If you do business in multiple tax locations, export your Square transactions by location. This will generate a separate file for each tax location. When you import your Square transactions, you will be able to assign the correct sales tax.

  • Go to your Square account.
  • Select Sales from the left-hand menu.
  • Select the Transactions tab, then the transaction to be exported.
  • Select Transactions CSV from the Export menu.

Import your sales information into QuickBooks

Here’s how to transfer your Square sales data to QuickBooks:

  • Launch QuickBooks.
  • Navigate to File, then Import.
  • Choose Transactions, then Sales Receipts.
  • Select the Import from Square icon in the Import Sales Receipts window.
  • Choose the Square file you exported.
  • Choose the bank account linked to your Square account.
  • Choose a tax rate for the transactions. Make sure the tax rates you’ve configured in Square match the tax rate items you’ve configured in QuickBooks.
  • Select OK and then Import.

Conclusion:

Importing a square file in QuickBooks Desktop is simple. We’ll show you how to import a square file into your QuickBooks Desktop account in a few simple steps in this brief Import Square into QuickBooks tutorial. If you have any queries or have any problems while importing your square file, please contact our team of specialists, who are here to assist you 24×7.

Watch video to import Square into QuickBooks

FAQs

How do you review your imported transactions?

Here’s how to review your Square transactions in QuickBooks:

  • In QuickBooks, go to the Company menu.
  • Select Transactions Centre, then Sales Receipts.

How do I transfer Square sales data to QuickBooks?

Here’s how:

  • Navigate to your Square profile. Select Sales from the menu on the left.
  • Choose the Transactions tab, then the transaction to export.
  • Choose Transactions CSV from the Export menu.
  • QuickBooks will import your sales data.
  • Here’s how to get your Square sales data into QuickBooks.
  • Log in to QuickBooks.
  • Select File, then Import.

How do I integrate Square with QuickBooks Online?

Here’s how:

  1. Access your QuickBooks Online account.
  2. In the QuickBooks Online app store, go to the Connect to Square page.
  3. Choose ‘Get App Now’.
  4. Choose ‘Get started’.
  5. You must grant QuickBooks and Square permission to share product details.
  6. Choose to Give permission.

Can I import my Square transaction history into QuickBooks Desktop?

If you’ve made a Split Tender payment, you won’t be able to import your Square transaction history into QuickBooks Desktop. Square’s Multiple Location features is not supported by the QuickBooks Desktop integration.

Are there any Square transactions that the app does not import?

The app does not import Square Card “money out” transactions. To enter these transactions into your accounting software, get a CSV file from Square and submit it to QuickBooks.

In addition, disputed transactions are not currently supported by the app. QuickBooks urges you to exclude any transactions that have conflicts. You can enter a disputed transaction into QuickBooks manually or through the Banking page (if you linked the bank account where Square puts your money).

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