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Payment reference in bank statement

Hi - apologies if this is covered anywhere, but I can't find it . . .

 

Is it possible to include a reference on each transaction so that when I look at my bank statement I can see what individual payments are for?  At the moment all that appears on the statement is the total taken via Square.  I know I can write Notes & use Customers, but that info seems to stay within Square.

 

Thanks

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Hi @HopeOrganics, thank you for taking the time to follow up and provide that context!

 

I was able to look through your post and that's a fair request—given the tools that we have to work with right now, it sounds like the best way to surface these details to your treasurer is for them to access the online Square Dashboard. If I'm understanding correctly, you could include the membership number in a note with the payment, and then it will be accessible in the Transactions tab. The information on that page can be exported as well.

 

We are in the process of rolling our a new set of features that will allow you to create specific logins with access to specific functions within a Square account. Since we're in the early phase of that rollout, you may want to contact an account specialist directly on our Customer Success team. They'll be able to take a deeper dive into your settings and offer a bit more advice in real-time.

 

Otherwise, feel free to reply here with any other questions. I'll be sure to surface this post with our Point of Sale folks as well.

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

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Hi @HopeOrganics,

 

Welcome to the Seller Community! I think I know what may help you reconcile which payments are included with each deposit. Have a look at this article and let us know if that helps: Match Deposits To Sales.

 

Please don't hesitate to let us know if any questions remain!

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

 

Many thanks for your reply, which was very helpful.  I can see how being able to match deposits to sales in the way you describe would be useful, but the situation I'm envisaging is somewhat different, and my apologies for not making that clearer.

 

I am hoping to be able to use our Square reader (using a separate account) to take payments for a club we belong to.  Those payments could be for membership fees, event fees or physical items; the problem arises because our accounts are handled by our Club treasurer, and it's him who will be looking at the payments into the Club bank account and wondering who they're from and what they're for.  Normally (eg with BACS payments) we ask members to use their membership number etc as a reference to help with this, but if all he can see is one bulk payment into the Club account, with no references, he's not going to be able to do that.  Presumably one solution would be for him to have access to the Club Square account dashboard, so he could do the sales/deposit matching described in the article, but that would add a layer or work for him that I'd be keen to avoid - he has enough to do already!

 

I hope that makes things clearer

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Hi @HopeOrganics, thank you for taking the time to follow up and provide that context!

 

I was able to look through your post and that's a fair request—given the tools that we have to work with right now, it sounds like the best way to surface these details to your treasurer is for them to access the online Square Dashboard. If I'm understanding correctly, you could include the membership number in a note with the payment, and then it will be accessible in the Transactions tab. The information on that page can be exported as well.

 

We are in the process of rolling our a new set of features that will allow you to create specific logins with access to specific functions within a Square account. Since we're in the early phase of that rollout, you may want to contact an account specialist directly on our Customer Success team. They'll be able to take a deeper dive into your settings and offer a bit more advice in real-time.

 

Otherwise, feel free to reply here with any other questions. I'll be sure to surface this post with our Point of Sale folks as well.

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

 

Thanks for that - having the treasurer access the online dashboard certainly seems the best way to go; in fact, I've suggested to him that he sets up the account himself anf familiarises himself with the software.  Even if he never makes a sale himself he'll know how to get the information he needs from the Transactions tab, as you say.  We can also use Locations to identify which Club officer is taking each payment.

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Sounds great! We appreciate your flexibility and patience as we continue to iterate. 💯

️ Tom | he/him
Seller Community Manager | Square, Inc.
Find step-by-step help in our Support Center
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Hi following up on the conversation. Unfortunately, I could not find a useful way to match the bank statement with the square payments. This is a big problem as we have no control when receiving recurring payments with the same amount. It is very time-consuming and nearly impossible to match them due to a time delay in getting the funds in our account. We need to be able to put in a unique identifier (Client name, Invoice number ...) so it shows up in the bank statement for each transaction. Any Idea if this will be implemented?

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Square Community Moderator

Hi @CountryConsult,

 

Thanks for writing into the Seller Community! I noticed it's your first post, welcome 😊

 

At this time, Square deposits all transactions as a lump sum payment, rather than individual transactions. I'll highlight this suggestion to our payments team as a feature request for you.

 

In the meantime, the workaround would be using your transfer reports to match deposits to your sales. Each transfer report shows you the day of the transfer, and all transactions included in it to make matching what you see in your bank account to what you've taken. Take a look at this article for steps to downloading your reports, and more. 

 

 

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