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RforM
06-23-2020
05:25 PM
What are the deposits from Square labeled Square P L into the bank account. Square Pp deposits=repor
I'm a bookkeeper jumping in for the first time with Square. I have matched certain deposits to the transfers reported in Square. However there are other numerous deposits that I don't know what they are. Anyone?
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3 REPLIES 3
Hi there. Transfers appear slightly different depending on your bank. I bank with PNC - transfers shows up as SQUARE INC DIRECT DEPOSIT on my bank statement. Other Seller might see SQ next to their deposit.
Justin
Community Moderator, Square
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Ok. Thank you. I'll look today to verify, but maybe the deposits look different because one is before 5pm and the other is for sales after 5 pm.
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@RforM -
Ah, I see. Yes - if sales were taken after 5pm PT, then transfers will be split up which makes it confusing to reconcile your deposits with the Daily Sales Summary.
Justin
Community Moderator, Square
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