Hello @ambernpm
You can definitely get reports for each transfer (aka Deposits) showing all fees removed. Capital payments are their own separate report, but it's relatively easy to get them all linked up.
For the Transfer Report:
Go to Balance -> Activity -> Transfers. If you have multiple locations, you can filter by location. Each transfer initiated by Square will be shown here depending on your date range. Clicking on each transfer will take you to a screen that will show your total transfer less any Square or delivery-related fees.
For the Capital Payment:
Go to Capital. All the Automatic Payment lines will be that day's payment.
Now here's the kicker: if you process credit cards beyond your end of day (which is set at 5 PST by default), the card sales will show up in the day, but the amount won't be transferred over to your account until the next day. These can be overridden in the Balance Settings, but by default this is how it's set up. This means there will be discrepancies with your deposits when reconciling your accounts. There isn't a way around this--this would be similar with all the "real system"s out there too.
Here's what I do when reconciling the deposits/transfers with my bank via Quickbooks:
For this day, my bank reported $383.13 in a deposit. My CC sales for the day equaled $434.42. In QB, you can split your deposit by editing it. This is where I report my CC fees (-14.35) and the Capital Loan (-35.08). Since I had a small sale hit after the EOD cutoff, my credit card sales didn't match the bank, to the tune of 1.86. I made an additional CC sales entry to make things match. Some accountants would probably rather see that 1.86 in an A/R entry instead of a CC sales entry, but this works. The next day, my deposit was off 1.86, which made up for this discrepancy.
Your accountant may want to see this recorded a different way, though, so I'd consult with them before locking in procedures off of what I say.
As for contacting customer service, you can do so at the link in my signature below. Click "More..." then "I don't see my issue" to get to your customer code and contact information.
Hello @ambernpm
You can definitely get reports for each transfer (aka Deposits) showing all fees removed. Capital payments are their own separate report, but it's relatively easy to get them all linked up.
For the Transfer Report:
Go to Balance -> Activity -> Transfers. If you have multiple locations, you can filter by location. Each transfer initiated by Square will be shown here depending on your date range. Clicking on each transfer will take you to a screen that will show your total transfer less any Square or delivery-related fees.
For the Capital Payment:
Go to Capital. All the Automatic Payment lines will be that day's payment.
Now here's the kicker: if you process credit cards beyond your end of day (which is set at 5 PST by default), the card sales will show up in the day, but the amount won't be transferred over to your account until the next day. These can be overridden in the Balance Settings, but by default this is how it's set up. This means there will be discrepancies with your deposits when reconciling your accounts. There isn't a way around this--this would be similar with all the "real system"s out there too.
Here's what I do when reconciling the deposits/transfers with my bank via Quickbooks:
For this day, my bank reported $383.13 in a deposit. My CC sales for the day equaled $434.42. In QB, you can split your deposit by editing it. This is where I report my CC fees (-14.35) and the Capital Loan (-35.08). Since I had a small sale hit after the EOD cutoff, my credit card sales didn't match the bank, to the tune of 1.86. I made an additional CC sales entry to make things match. Some accountants would probably rather see that 1.86 in an A/R entry instead of a CC sales entry, but this works. The next day, my deposit was off 1.86, which made up for this discrepancy.
Your accountant may want to see this recorded a different way, though, so I'd consult with them before locking in procedures off of what I say.
As for contacting customer service, you can do so at the link in my signature below. Click "More..." then "I don't see my issue" to get to your customer code and contact information.
