How do I create a report that acts as a monthly statement?

[KDS1985]

Since Square inexplicably does not offer monthly statements, I spend an inordinate amount of time manually compiling necessary data in a spreadsheet for monthly reconciliation. Of course the use of a manually created statement is tenuous at best for this purpose but until I can transition away from using Square it is the best I can do, and it would be great if there was an easier way to download the following info in one report:

Transaction date, customer name, amount received, amount deposited, associated fees, and invoice number

Any help appreciated!

[Tom]

Hi @KDS1985,

Welcome to the Seller Community and thanks for bringing this up. I went to check for updates on this request and I'm afraid I don't have any new developments that we can share out right now. So that I can surface some more information with our Point of Sale team, can you let me know a bit more about why this information in a monthly cadence is important for your business?

In addition, I wanted to surface that we've partnered with a number of accounting apps that may offer an automated solution right away. To see what's available, head over to the App Marketplace > Accounting & Tax.

If any other sellers have a workaround or insight to offer, please don't hesitate to weigh in! 🙏

[2DG]

important if your triing to prove your income for a car loan...

[Candlestore]

@2DG 

Short answer: you cannot just show your deposits from Square, you would need to manipulate a CSV file or multiple ones to clean the data up.  The other alternative would be to show your bank statements with the deposits from Square.  You could show sales summaries for each individual month that would show monthly sales totals.  Then again this would be gross income and not show net income because of expenses for the items you sell.  You may need to look at your accounting software if you use any.  For this you can go to your Square Dashboard-Reports-Sales Summary-Then where you can choose daily, weekly, last week, last month, this month, etc... at the bottom you can put the months in you want as From date to Date and that would give you your total Sales report for the date frame you selected or entered.  Just this is exported to a CSV file that has 1 column labeled Sales..... no mention of Square so it would look like a spreadsheet you entered data in, unless you did it right at the bank.  

I have all my numbers (sales, expenses etc) in Quickbooks to get better data, since Square is more a way to accept Credit Cards and track inventory but is not a complete accounting package, which is the data most car lenders are looking for.  A P&L statement and a Balance Sheet at minimum from an accounting software program.  Your data can be imported into some accounting packages that are listed in the APP Integrations section on your Square Dashboard, but some may require fees to update automatically etc.

I would take my laptop to the bank if you can and show them what Square gives for a report of your income, if your doing it through an internet bank or need to email these reports .... I would send them what Square gives us and let them figure it out.  If they want to give you the loan and will earn income from your interest rate they may do it.  Sometimes its better to give them too much information.  🙂

[Candlestore]

@Tom ;

The biggest issue is a lot of small business do their sales reports and trying to reconcile their bank statements at the end of a month.  Squares reports that are downloaded are very detailed to the point of each transaction.  So on a bank statement there are about 29-31 deposits from Square a month.  On our reports if we average say 10 sales per day times 30 days per month that is 300 deposits on our statements from Square that do not match the amounts deposited into banks via direct deposit.  Business owners then have to go through 750 transactions, separate them by day, take the Gross income from Square and Subtract from it the Fees and Discounts etc to figure out what was deposited on a certain day.  When we export the balance transfer report it shows every sale, why cant it just put the "Deposit ID" for a day as a total. for the day. 

From the Square Dashboard  go to  Balance, Then click Locations Balance, View All Transfers...This shows The Location Date and the Total Transferred from Square to our Banks.  See image below.

I removed the Amount Column because I know it gets edited by Square.

You click Export, and you get EVERY transaction, 10 transactions per day as an average, us business owners need to go through and figure out which ones go together for the daily Deposit from Square. 

See this image of the Exported Data as a CSV file from the page above on the Square Dashboard.

I removed the CSV files that have the Gross, Square Fees and deposit amounts.  

Each color bar I added is for a different Day

Why can't Square give us what we want in the Dashboard views but when we hit export it does not match what is on the Screen?   All we are looking for from the Transfer Data is Dates, (Transaction and Deposit),  Type, (Payment or Refund),  Deposit IDs Total deposited.  As you can see in the above picture, the Deposit Date column by color matches the Deposit ID.  I know the Transaction Date and Deposit Date do not always match because of weekends and holiday deposits.  Then this data would match a Banks Credit and Debit numbers for Deposits from Square.    Your technicians already do this for the Square Dashboard but then export Too Much data.  There is no simple Export that shows us business owners a simple Total deposit transfer from Square to our bank.  If we have questions about a particular transaction from a particular date for a particular amount then we could go to the Transaction Details export file which has more details like items sold etc.  

Hope this gives a clarification why business owners have been asking for this feature for years.

[WonderWoman5]

Just unbelievable.  I am so done with Square!

[Candlestore]

@WonderWoman5 

These are older posts from 2022....

Now from your Square Dashboard you can go to Balance > (Name of business) > View all Transfers this will give you a list of deposits from Square to your bank but you got to scroll through them for a month.

Another way to do this if you can use Google Sheets or excel is to Download this as a csv, Open it with Excel or google Sheet then insert a Pivot table to another sheet.  Here is a video of me doing this with Google Sheets since it is Free.  

[WonderWoman5]

Thank you!  I'm older and technologically challenged and will probably find it difficult to do that.  Can't they just send me a list of my transactions for the year with out it being in the excel format? I'm so frustrated with Square that they never sent me or notified me that I had a 1099.  I didn't find out about it until I got a lovely letter from the IRS want a lot of money from me now do to the over sight!

Therese

[Candlestore]

[This reply has been edited from the original by a Seller Community moderator.]

I received an email from Square on Jan 20th telling me my 1099 was available.  Square does not email this but you can download it from your Square Dashboard.

You should be able to Download it here:  https://squareup.com/dashboard/business/taxes 

Anybody in the USA that gets over $500 worth of sales from Etsy, Ebay, or Credit card processing with in a Calendar year will be given a 1099 or have the ability to download one from the company they get paid from.  Square like most online businesses have you download the 1099 to save on paper and on postage of sending one to you by mail.