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Can business expenses, such as rent, be paid through square ?

Can business expenses, such as rent, be paid through square?

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Square Champion

Best Answer

yes, you can accept payments for rent through Square.  

 

you can read the payment TOS here.  Item 3 is about items excluded from sale.  https://squareup.com/us/en/legal/general/payment

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Square Champion

Best Answer

yes, you can accept payments for rent through Square.  

 

you can read the payment TOS here.  Item 3 is about items excluded from sale.  https://squareup.com/us/en/legal/general/payment

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This is the same question I have.  The answer is the opposite.  We are looking as an expense not an income

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Admin

Hey @plzhelp, welcome to the Seller Community!

 

To be sure I'm on the same page, are you looking to expense rental payments as a cost of business? If so, you might want to touch base with an accountant or tax professional for more clarity. If I'm missing the mark, feel free to reply with a bit more information on what you're looking for and we'll be happy to take a deeper look. 🙂

️ Tom | he/him
Seller Community Manager | Square, Inc.
Find step-by-step help in our Support Center
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Hello Tom,

Thanks for responding.  Yes we are on the same page.  I am looking at trying to record my rent expense that I pay each time we have an event.  The income is all recorded thru square which is then pulled into quickbooks online.  I am trying to record it all at one time so the bank deposits match.  This would make things much easier to match in Quickbooks.  

Thank you

plzhelp

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Admin

Got it—thanks for confirming. I'll be sure to surface why this reporting feature is important for your business with our Point of Sale team. In the meantime, it sounds like what you're doing with tracking the expenses in Quickbooks is the best workaround. In addition, we've partnered with a variety of accounting apps that may offer a suitable solution. For more information, have a look at the App Marketplace > Accounting & Tax.

 

Thanks for your patience as we work to improve and let us know if anything else comes up!

️ Tom | he/him
Seller Community Manager | Square, Inc.
Find step-by-step help in our Support Center
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I too would love to be able to track all of my expenses and income within Square. It seems only logical. Also, how are you pulling a true profit report without taking in monthly expenses?

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Beta Member

I would also like to be able to track my expenses inside of square. It would make it much easier to have it all in one place.

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Beta Member

I don't see why Square isn't capturing expenses?  It does everything else. 

 

After chatting with Quickbooks, Square does everything except capture expenses.  Come on Square, help a small business out...these trials, fees, third-party apps are getting expensive!

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