I just realized if you have your square account synced to QBO and you have Square Set to automatically deposit certain % of your sales that it registered it as fees instead because it doesn't sync to your savings, so I ran my report and was wondering why my fees were off by the thousands last year and this year.
Yes I tried to use square savings as well. It made a huge mess of my quickbooks. Thankfully I did not let it go very long once I realized it was not syncing. As a result I deleted all square accounts and just bank locally.
it is better to have a local checking and use the app to import transactions. Fees will be recorded correctly. For whatever reason nothing imports correctly when using square checking or savings.
Thanks for reaching out with this feedback. I do think it is a great suggestion and can see how helpful having the information go directly into Quickbooks would be. This step in the Feature Request process will be a time in which other sellers can add their use cases to your idea to make it stronger and demonstrate further how much it is needed. Later on, we'll re-visit the most popular feature requests in the "Open for Votes" status and bring them to product teams.
To other sellers that see this feature, please “like” the post and reply with a use case that your business would have. This will help to signal that this feature request is even more important to address. We appreciate your patience while our team tracks this request.
I would also like to add to request to have this added as a feature on Quickbooks. I agree with another poster that the fact that I can't sync this account is crazy.
My monthly bank statement for my Square Savings account is 28+ pages long each month, I'm not manually entering all of those transactions! Having a daily sync is an essential feature to help with bookkeeping.
We use QBO to manage our various accounts and track cash flow, so having it integrated with Square checking + savings is a critical feature. I will stop using Square banking unless this is solved soon.
I use all of the features of square including the bannking but I will have to stop soon if I can't even get a savings download of transactions. I can and will not manually enter all of the transactions into QBO. An integration is necessary!!! Accounting fail for square.
Like many here, we use BQO to manage our funds. We recently started using Square Checking and Savings after ditching one of those brick-and-mortar banks that love charging fees just to have the "privilege" of having an account. We've been using the Square integration to bring in all of our invoices and card transactions, but soon realized the critical feature of brining in the transactions from the Square banking side was absent. We're a tiny business that's just starting out, and the time it took to enter in all of the transactions cost a significant amount of time (money) that would be better spent doing other things.
