Send money to two bank accounts based on product

[DingosMate]

Hi,

I have a POS (market stall) where I am selling products for 2 different companies (I am the part owner of both); we don't want to set up 2 different Square accounts because we want to be able to share the POS devices, otherwise it just gets way too complicated at the store, especially if only one person is working.

Is there any way to have  a single Square account deposit the proceeds from sales of product to 2 different bank accounts depending on the product being sold? I see that it's possible to set up multiple "locations" so I could have one product range in one "location" and the other in another, but does that solve the problem?

Suggestions on this appreciated.

Thanks

[LLCafe]

@DingosMate, You can setup a bank account for each location if you did two different locations. The thing you'd want to test is how easy it is to switch between locations on the device based on your workflow and see if that works or not.

[MBL-Jacky]

Hi Dingo, there was a new feature added recently in November that may solve your issue. Here's a link to help you setup multiple bank accounts on one Square account.

https://www.sellercommunity.com/t5/Product-Updates/New-Add-Multiple-Bank-Accounts-to-Receive-Funds/t...

You'll have to do some math because it's not based on product but it'll save you from creating another square account. 

Maybe you can use Sales Summary tab in Reports to filter product sales to do the math.

[dingosmate1]

Thanks for the replies, I worked out a way to do it, but it is painful.

I added multiple bank accounts to Square, so that part was sorted (thanks for the info on that). But Each POS can only have one location at a time; to switch locations on the POS is a complicated task that we don't want to undertake while trying to sell product. So, practically, all the sales at the market go to the same location, we can't really change that. Each location can only have one bank account associated with it currently, so sales from that location can only go to one account. Here's what I'm currently doing:

• Set the transfers for the location to "manual" so that it doesn't transfer to the bank account automatically
• When I want to split the transfers to multiple accounts, I have to do a manual transfer periodically (once a week)
• First go to settings->locations and set the bank account for the location to one of the accounts
• Then got to balance->Transfer and transfer the correct amount to that account
• Then go back into settings->locations and set the bank account for that location to the other account
• Then go back to balance->transfer and transfer the remainder of the balance to the other account

If anyone has a better way, please let me know.