When transfering money to our bank, the Square amount and the actual amount are not lining up.

[CommonThreads1]

Below you will see a table that shows a different amount being transferred to our bank from Square at both of our locations multiple times every month. We have been trying to resolve this, but haven't figured it out. Our transfer times are hours after end of business, so it isn't that. Has anyone else experienced this, and have a solution? It is maddening. 

	Our Bank	Square
2
6/28/2024	979.87	969.07	10.8
6/27/2024	2,300.73	2312.28	-11.55
6/24/2024	1,808.79	1809.29	-0.5
1
6/28/2024	1,673.51	1,673.76	-0.25
6/27/2024	6,158.85	6,154.90	3.95
6/26/2024	2,029.37	2,033.42	-4.05
6/24/2024	4,877.54	4,878.17	-0.63
6/17/2024	2,750.42	2,751.92	-1.5
6/17/2024	2,812.27	2,813.52	-1.25
6/17/2024	4,013.32	4,014.32	-1
6/12/2024	2,265.21	2,265.59	-0.38
6/3/2024	2,358.13	2,358.63	-0.5

[Candlestore]

@CommonThreads1 ;

As I see this is your first post welcome to the sellers community forum.

I never saw where our deposit amount was Higher than what Square reported.   Now depending on where your pulling your Square data from the lower amount in you bank is from Square charging you their processing Fee.

When I make a sale and report the transactions in QuickBooks Desktop, it looks more like:

Items              Quantity         Total Sold

Candle              2                     $43.00

Sales Tax                                  $  1.50

Total                                          $ 44.50

Square Fee                               (1.21)

So my Gross sale shows 44.50   but my deposit is $43.29 since Square takes out their fee before making the deposit.

If you look at your Transactions report you should see columns of Gross Sales, Quantity, Tax, Square Fee, and then a Net column.  This is simplified as you will have alot more columns but these will show you the amount pre transaction.  In the Balance Section you should be able to see what was transferred to your Bank and the Dollar amount.   These should match.  Even the way I do it in QuickBooks my deposits match to the penny.   I am thinking you missed the Transaction Fee and do not forget when there is a Refund square keeps the Processing fee.  So if I refunded the above example of $44.50 to the customer, Square is keeping the $1.21 Fee and I have a loss of $1.21.

[CommonThreads1]

Thank you very much for your response.

The refund makes some sense.... But as you see from the sheet above, it goes day to day and sometimes it is more, and sometimes it is less. Also, if you note, it is not everyday, so it isn't the processing fee. It is only 9 days in June for store 1 and 3 days in June for store 2 and of those days 2 of them are positive rather than negative differences. 

The refund thing is noteworthy though. I'll look into that part. Thanks again. Any thoughts on the positive balance? 

[Candlestore]

@CommonThreads1 ;

No ideas on the positive balance, and without seeing in your account I can not explain it either.  

Your best bet would be calling Support on Monday, their number is in my signature line.

If you log into your Square Dashboard and click Balance, Then Location with the $ sign of your Location; then all Transfers.

You will see a date with a $ amount of the Transfer.  If you click the Date you will get a small report showing how Square came up with the Transfer Amount.  If you Scroll to the bottom a list of all transaction of the transfer are listed.  Square does have alot of reports that gets confusing on which Report is being used.  

[CommonThreads1]

Thank you  very much. I'll do that!