Hello Claudia, thanks for the helpful video. I've got a quick question, we're a small business with multiple e-commerce channels trying to get everything under 1 roof. QB already has inventory items in it from our Shopify store and other platforms, Square is the final thing that we are syncing up. If we import inventory into QB from Square will it be creating duplicate items? The item names may not be exactly the same but they will have the same SKUs of items that we already have in the system. Any advice would be much appreciated, thanks!
Inventory does not work really well with Square. What I advise is to do as non inventory and do a Journal entry in QuickBooks. Is Shopify and Square integrated? The products and services need to match exactly what is in Square.
To reconcile the Square bank do you use the Square transaction report ? Does the app automatically map to items in your products and services? Thanks for the video it is very helpful.
To reconcile you will use Sales Summary not the transaction report. The app does not automatically you will need to add the products and services from Square and import to QuickBooks.
RE: Products/Services migration - All info refers to migration from Square to QBO, but what are the options to migrate QBs Products/Services to Square? ( QBs set up long before Square)
Anna I need help - I'm so new to QBO and Square both. We're using the Square debit card for buying gas for our work vehicle. But it's not showing those transactions. When I go to app settings for Square via QBO, and go to choose the 'Square balance account", it does not give me a 'square' account to select, only Cash, and then two other linked bank accounts that are personal. So when I go to add it as a new account type, I'm only given the option to create it as 'bank'.... But I don't know what detail type it is? Wouldn't it technically be a checking account? Would that be right? I'm so confused, help? :[
You will need to open a Square clearance account. When you charge on your Square credit cares it gets quite complex and you will need to add the expenses manually.
How do find when the last date we received updates from square in the old Sync with Square app? You mention around 3:30 making sure to do that before connecting with the new app, but don't say how?
On the left hand side click on app, then click on my apps, if Square shows up make sure to disconnect there. There are multiple ways that square transfer transactions, so I would only be able to say by looking in your books. But if you had Square transaction going into Undeposited Funds, go to the plus sign on the left hand side, click on deposits and the transaction should be there, unless you already matched them, if you had the transaction going into Square Bank, then go to square bank and verify when was the last transaction date. Hope this helps.
If you have individual transactions instead of lump some, remove the integration and all transactions. Then redo the integration and make sure to select transactions as lump some not individual.
Great video Claudia! I like the way you show the different steps of the process and how to capture the Square activity in Quickbooks Online. Well done!
I'm having trouble connecting to this app. Do I need to disconnect from the old sync to square app? Square and QB support has no idea why it is not working and keeps through the ball over the fence.
I just connected Square but when I try to add transactions it tell me that it couldn't add due to missing ledger account? I have square fees is there something else that I need to add?
You need to make sure the mapping is correct, your bank account, and all your products and services are added, also make that if you charge taxes in Square, that you set up taxes in QuickBooks Online, finally if you have inventory in Square, it needs to be set up properly in QuickBooks Online.
Great Tutorial. I have quickbooks online. I am not seeing the "Square Balance Account". I just installed the app the first of September, so I would assume that I have the latest version. Do you know why that option is not available?
If you have the latest version you will not see the Square account, it will automatically go into your checking account, once you add the transaction. You will reconcile your checking account to see if there are any discrepancies. Glad you liked it
There are different ways to set up your link if you route it go into Square Bank or directly to your checking account. If you set it up into checking, you will not see a square bank account.
You can make sure your products and services are set up to match square, so when the sales receipt imports from square it will remove the inventory. Save your products and services from square into an csv file format, go into QuickBooks Online and select products and services from the sales tab on the left hand side, click on the arrow next to the green New button on the right hand side, select import, select the csv file you saved from square. Keep in mind you still may have to manually adjust for lost inventory, or other loss of value, you keep track by reconciling your inventory on a constant basis.
@@88dbco it should match, if it is duplicating you can exclude on the new integration upgrade, but the amount should match the banking deposit, unless you are reporting cash sales that do not match what you deposited in the bank.
@@88dbco It is hard to see what is going on without getting in your books, if you want you can schedule a Zoom meeting, I charge $100.00 per hour, but for the first meeting is only $50.00. I will be on vacation starting tomorrow but we can set it up for when I came back. You can email me at qboxperts@gmail.com, just heads up I will be looking at it when I come back in 1 week
Hi, this video is really very helpful. Just a question, when we connect the Square to Quickbooks, should a Square balance account automatically be set up in Quickbooks? Or I should be adding this as a new account?
@@ClaudiaXperts This video was so helpful thank you! just to be clear, I am utilizing the Square checking/debit card and only have a separate bank account linked to transfer funds into. So, when I connect Square to QBO, I need to set up a bank account in QBO as a clearing account?
thanks for the video. i would suggest sizing your screen so that in your videos, we see the entire screen. sometimes you mention things or bring the cursor to an area that is "off" our viewable area. again, thanks, peter
I may have missed it, but I've been searching to see did you have OBE for your Square "bank" account? Does it not matter since it will always just wash as it flows in and back out?
@@CatherineBondsPabon Catherine, Opening Balance Equity account should always be zero, even if you have a prior balance you should zero it out into either owner's equity or retained earnings(depending on your CPA preference) You will want to start as a zero opening balance, and make sure at the end of the day the Square bank is zero since money will always flow into and out of Square bank.
Hello Claudia, thanks for the helpful video. I've got a quick question, we're a small business with multiple e-commerce channels trying to get everything under 1 roof. QB already has inventory items in it from our Shopify store and other platforms, Square is the final thing that we are syncing up. If we import inventory into QB from Square will it be creating duplicate items? The item names may not be exactly the same but they will have the same SKUs of items that we already have in the system. Any advice would be much appreciated, thanks!
Inventory does not work really well with Square. What I advise is to do as non inventory and do a Journal entry in QuickBooks. Is Shopify and Square integrated? The products and services need to match exactly what is in Square.
To reconcile the Square bank do you use the Square transaction report ? Does the app automatically map to items in your products and services? Thanks for the video it is very helpful.
To reconcile you will use Sales Summary not the transaction report. The app does not automatically you will need to add the products and services from Square and import to QuickBooks.
RE: Products/Services migration - All info refers to migration from Square to QBO, but what are the options to migrate QBs Products/Services to Square? ( QBs set up long before Square)
You may download your products and services from QuickBooks and import into Square
lets too good I loved it
Glad you loved it❤️❤️
Anna I need help - I'm so new to QBO and Square both. We're using the Square debit card for buying gas for our work vehicle. But it's not showing those transactions. When I go to app settings for Square via QBO, and go to choose the 'Square balance account", it does not give me a 'square' account to select, only Cash, and then two other linked bank accounts that are personal. So when I go to add it as a new account type, I'm only given the option to create it as 'bank'.... But I don't know what detail type it is? Wouldn't it technically be a checking account? Would that be right?
I'm so confused, help? :[
You will need to open a Square clearance account. When you charge on your Square credit cares it gets quite complex and you will need to add the expenses manually.
When you use your Square Bank the process to accept transaction is different so is the matching process
How do find when the last date we received updates from square in the old Sync with Square app? You mention around 3:30 making sure to do that before connecting with the new app, but don't say how?
On the left hand side click on app, then click on my apps, if Square shows up make sure to disconnect there. There are multiple ways that square transfer transactions, so I would only be able to say by looking in your books. But if you had Square transaction going into Undeposited Funds, go to the plus sign on the left hand side, click on deposits and the transaction should be there, unless you already matched them, if you had the transaction going into Square Bank, then go to square bank and verify when was the last transaction date. Hope this helps.
What happens when my item catalog is larger than the 1000 lines? Mine is almost doubled
If you have individual transactions instead of lump some, remove the integration and all transactions. Then redo the integration and make sure to select transactions as lump some not individual.
@@ClaudiaXperts I was talking about my item catalog importing. So I am confused by your response.
@@kristyelkins8302 You mean your products and services?
If it is products and services you can import the list into a CSV file into QuickBooks Online.
Great video Claudia! I like the way you show the different steps of the process and how to capture the Square activity in Quickbooks Online. Well done!
Thank you, I am so glad you liked!
I'm having trouble connecting to this app. Do I need to disconnect from the old sync to square app? Square and QB support has no idea why it is not working and keeps through the ball over the fence.
Yes, you do need to disconnect from the old sync first. Also make sure you clear all transactions already imported and not matched.
Great video! Thank you for sharing.
Glad you liked it Candice!
Do I need to set a square account in the COA ???
You will need to have Square fees, and your products, you do not have to open a Square Bank with the update
I just connected Square but when I try to add transactions it tell me that it couldn't add due to missing ledger account? I have square fees is there something else that I need to add?
You need to make sure the mapping is correct, your bank account, and all your products and services are added, also make that if you charge taxes in Square, that you set up taxes in QuickBooks Online, finally if you have inventory in Square, it needs to be set up properly in QuickBooks Online.
Great Tutorial. I have quickbooks online. I am not seeing the "Square Balance Account". I just installed the app the first of September, so I would assume that I have the latest version. Do you know why that option is not available?
If you have the latest version you will not see the Square account, it will automatically go into your checking account, once you add the transaction. You will reconcile your checking account to see if there are any discrepancies. Glad you liked it
There are different ways to set up your link if you route it go into Square Bank or directly to your checking account. If you set it up into checking, you will not see a square bank account.
Is there any sync between Square inventory and QBO inventory? Do I have to expire and import every time I add inventory in Square?
You can make sure your products and services are set up to match square, so when the sales receipt imports from square it will remove the inventory. Save your products and services from square into an csv file format, go into QuickBooks Online and select products and services from the sales tab on the left hand side, click on the arrow next to the green New button on the right hand side, select import, select the csv file you saved from square. Keep in mind you still may have to manually adjust for lost inventory, or other loss of value, you keep track by reconciling your inventory on a constant basis.
One more thing, keep in mind that inventory management is only available on QuickBooks Plus and Advance.
Hi Claudia, am new to square connect to qb online. Have you experienced where Square data is not consistent to what QB shows as sales receipt?
Yes, there are issues with integration. Did you select to migrate individual transactions or daily summary?
Summary only
@@88dbco it should match,
if it is duplicating you can exclude on the new integration upgrade, but the amount should match the banking deposit, unless you are reporting cash sales that do not match what you deposited in the bank.
Agree it should match but doesn’t…it is very curious to me…do you have an email I can show you?
@@88dbco It is hard to see what is going on without getting in your books, if you want you can schedule a Zoom meeting, I charge $100.00 per hour, but for the first meeting is only $50.00. I will be on vacation starting tomorrow but we can set it up for when I came back. You can email me at qboxperts@gmail.com, just heads up I will be looking at it when I come back in 1 week
Does it import the customer address and Customer name both ?
You can import the list in a CSV file and import onto QuickBooks online.
Hi, this video is really very helpful. Just a question, when we connect the Square to Quickbooks, should a Square balance account automatically be set up in Quickbooks? Or I should be adding this as a new account?
No opening balance should be entered, remember Square Account should zero out at the end of each billing cycle
@@ClaudiaXperts This video was so helpful thank you! just to be clear, I am utilizing the Square checking/debit card and only have a separate bank account linked to transfer funds into. So, when I connect Square to QBO, I need to set up a bank account in QBO as a clearing account?
@@annawolfenberger2318 Yes Anna, if you are using your Square as a bank account or credit card
@@annawolfenberger2318 Yes Anna, if you are using your Square debit card.
thanks for the video. i would suggest sizing your screen so that in your videos, we see the entire screen. sometimes you mention things or bring the cursor to an area that is "off" our viewable area. again, thanks, peter
Yes, thanks for the feedback. We will make sure to do it on our next video.
I may have missed it, but I've been searching to see did you have OBE for your Square "bank" account? Does it not matter since it will always just wash as it flows in and back out?
Sorry, can you be more specific with your question. Please define what you mean by OBE?
@@ClaudiaXperts Opening Balance Equity. Or would it just be zero? Will the first transactions you add be the first amount in the account?
@@CatherineBondsPabon Catherine, Opening Balance Equity account should always be zero, even if you have a prior balance you should zero it out into either owner's equity or retained earnings(depending on your CPA preference) You will want to start as a zero opening balance, and make sure at the end of the day the Square bank is zero since money will always flow into and out of Square bank.