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Invoice and Payment Square Link - Double Income

Hello,

 

I have a question regarding double income. If I invoice a customer for $1000, but they use a payment square link separately to pay a portion of the invoice ($500) and then I manually enter that $500 as "Other Payment" on the invoice will Square count this as double income? Or, does Square only consider what actually hits the account as income?

 

Thank you

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I believe that's going to mess up your bookkeeping - you have an invoice and a payment link - it's basically two separate transactions.  You can collect a partial payment on an invoice however, manually entering the $500 that you received thru the payment link and later getting the balance due on the invoice - it's going to look like you received $1500 when you really only received $1000 total.  At least that's my logic.  Perhaps some of the other volunteer community members have a different view.

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Hi @DavidDavid19,

 

Thank you for reaching out.

 

If an invoice was issued, but the customer chose to pay through a separate payment link instead, as JK_Fiber_Art mentioned, it would indeed be treated as two separate transactions, which could affect your reporting.

 

Out of curiosity, was there a specific reason the customer opted not to pay directly through the invoice? I recommend discussing this situation with your accountant, as they can provide the best guidance on how to handle this transaction for accurate reporting.

 

 

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Best Answer

I believe that's going to mess up your bookkeeping - you have an invoice and a payment link - it's basically two separate transactions.  You can collect a partial payment on an invoice however, manually entering the $500 that you received thru the payment link and later getting the balance due on the invoice - it's going to look like you received $1500 when you really only received $1000 total.  At least that's my logic.  Perhaps some of the other volunteer community members have a different view.

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Square Community Moderator

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Hi @DavidDavid19,

 

Thank you for reaching out.

 

If an invoice was issued, but the customer chose to pay through a separate payment link instead, as JK_Fiber_Art mentioned, it would indeed be treated as two separate transactions, which could affect your reporting.

 

Out of curiosity, was there a specific reason the customer opted not to pay directly through the invoice? I recommend discussing this situation with your accountant, as they can provide the best guidance on how to handle this transaction for accurate reporting.

 

 

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