How are Square fees paid?

[TervClub]

I am the treasurer of a club. We are new to Square, and are using it to do the transactions of the dues payments. We have our database set up to debit the member's card the amount of the dues plus 2.9% plus $0.30. However, the amounts that are being sent to us as deposits are the total of the payments, with no Square fees being withheld. How are those Square fees accounted for?

[rtfulk]

Say the dues is 10.00 so when you charge them 10.00 plus the 2.9% & .30, the members are paying you 10.59. When Square takes their fee from the 10.00 2.9% plus .30 that would take the .59 away and you would end up with 10.00. The members are paying you the processing fee and you are keeping your total amount.

[TervClub]

So the deposits that are being made are not by date? The gross payments made on 6/3 is $383.20 and Square sent an email saying we were getting $380. Obviously this amount doesn't include the fees - how do I know which payments this deposit was for? 

[Candlestore · Accepted solution]

@TervClub ;

On a computer go to your Square Dash Board and look at Balance area, Click on your Business Name then View All Transfers.   The 6/3 for $383.20 will show a Date when Transferred to you.  I just looked at mine which Shows 6/2 $xxx.xx and another 6/2 $xxx.xx  because on Monday I get 2 deposits from sales on a Saturday and Sunday.  If I click the '>' next to the deposit amount I can see all deposits (sales) for that deposit.  the other way is to look at the Transacations I explained how to download above.  In the csv file there is a Column 'AN' labeled 

Deposit ID

This ID should match the Deposits in the Balance View Details button after pressing the > arrow.  

I am thinking the 6/3 Deposit is from 'Sales' on 6-2    1 day later and 6-4 deposit should be close to 6-3 sales.  

Hope this makes sense.

[Lovewell]

Perfectly said @rtfulk 

Unless they are looking at their transfers and not seeing any fees taken out at all? @TervClub 

But if you are seeing the amount of money that you are charging someone I.e. the $10 fee then boom! You did it.

[Candlestore]

@TervClub ;

If you are looking to see that the Fees are paid for your accounting program, I would look at your SquareDashboard - Transacations and the export the transacations to see the Square Fees from the csv or excel file.  Square will send a 1099 form if you take in over $500.00 I believe.  At least this will be recorded as Square may show your Gross Sales as $10.59 per taransacation even though they only deposited $10.00 to your account which is the fee your charging your customers.

A link to your Squaredashboard and Transactions page on a computer : https://squareup.com/dashboard/sales/transactions 

On the far right is an export button and 3 choices depending what all you need which will export the file(s) as a csv.  Column 'U' is titled Fee and that column has Red numbers to show a Negative or deduction towards your deposit amount.

This is a way for you to check your calcaulations for your dues to make sure your are collecting the right amount before Squares Fees.

The way you have everything setup sounds correct to collect the entire Dues.