Missing Money from available transfer, Sale and Transfer does not match ($400 missing)

[Stubbies4Us]

On one day of my sale, I made over $600 in transactions. Then, out of the blue, the transfer available was only $201. $400 is missing. My sale still says I made over $600. At the end of the day, I made nearly $900 on my sales record. But my available transfer was only $451. I waited the next day to see if the money would show up, but it was still $451. I transferred that $451 on that following day, before a new day of sale started, and had no issues for the rest of the week. 

However, I've been waiting over a week, and that missing $300-400 dollars never showed back up again, but my Sale on that day is still nearly $900. That's going to be reported on my taxes, but I didn't receive nearly that amount for the transfer. 

Does this happen a lot? Does Square just eat up money if the businesses don't check? I'm scared this is going to happen randomly, and I'm still missing $400. 

[TheRealChipA · Accepted solution]

Hi @Stubbies4Us.  So, first of all, no one (not even Square) just eats up money and hopes we don’t notice.  That would be illegal, immoral and such.  That doesn’t happen, and if there is an error it is just an error, not a conspiracy.  Most business owners (me included) do strict revenue accounting each day and can account for where every penny of sales went.  If you aren’t doing that yet, I would strongly recommend it because, sometimes, mistakes do happen and that is the only way to catch them immediately.  Now, let’s see if we can help you get to the bottom of this mystery.

1. You say that your sales for the day in question were $600.  What report are you getting that from — your Sales Summary or something else?
2. From your online dashboard, go to Balance > Select location.  Scroll down to the Balance overview section and scroll to the date in question.
3. Click the Payment processing line to expand it.  This will tell you how much you collected, fees taken out, money sent to savings (if you use savings), money used to pay your Square Loan (if you have one).  Look for anything high or unusual.
4. Look at the lines for debit card spend (if you have a Square debit card) and transfers.  The transfers line is what is left over to be deposited in your checking account.
5. Finally, at the bottom the Ending Balance should be zero for that day, IF all payments were accounted for.

Do you see anything unusual here?  I’ll leave it here for now.  This is enough to hopefully point out the issue, if there is one.

[Stubbies4Us]

It seems like no one here reads my post. I said final credit card sale the end of the day was nearly 900. 

I only got 451 on transfer available balance. It didn't change after 12 hours.  

Again. I noticed the missing 400 is when it was over $600 sale, then dropped to 200 during mid day.

[TheRealChipA]

@Stubbies4Us Keith was just bringing up another possibility, not an answer.  If cash wasn’t part of the issue, all you had to do was say so.  Attitude is not necessary or welcome.  Did you try the steps I outlined above to try to find the “missing” money?  Those should help point out what might have happened.

And if that did not work, you need to get on the phone with Square Support.  Since your question involves your money, they are the ones most equipped to help you since that is sensitive information.

[Stubbies4Us]

You have to forgive me when those responded with incorrect numbers, reducing my final sale, which is nearly $900 to $600, then $200. 

Do you understand how scary it is to see money disappear without notice? I just want to know if square is safe to use.

Like do I have to screenshot every transaction for every sale in case it happens again? There are no paper trail on my missing transfer credit of that day for the available balance from this week.  

Thanks eveyone, I'll call support. 

[Candlestore]

@Stubbies4Us ;

Did you check Your Transfer report?

https://app.squareup.com/dashboard/balances 

Then choose the Location or Business name, Then choose All Transfers.  

Scoll to the day Before, Day of, and Day after.

To the right of each of these darys are amonunts with > click the >

This will give you a Transfer summary.

Showing the Gross Total from Credit Cards

Then under that will be all of Square fees and costs that may explain why you did not get the amount your expecting. Then at the bottom should be the amount Square actually deposited.

The only other explination I can think of is if you signed up for a paid service or services that Square may have charged you for, if a Free Trial expired.

If none of this helps, call the support number in my signature line.  Since it is currently a weekend, you may have to call Monday.  They can look in your account, we are independent business owners and cannot see in your account or explain these figures to you without seeing in your account.  Our answers are based on the most likely events that may cause your experience, especially since Square has alot of different types of Reports and similar wording for things.  

The other thing to look at is how many Returns you have.  Square does not refund the Processing fee.  I have seen where this caused confusion, but not to the extent your showing.  This could be Part of the $400 fee but I do not see it as being the entire problem. This on top of monthly fees for Retail or other services sounds more likely to me.

Try and see you deposit details report, in the Balance section as described in this reply.   Because your deposit being off as much as your saying  (400) seems really odd.

[ryanwanner]

Hello @Stubbies4Us ! To add on to what @Candlestore and @TheRealChipA are saying...

If you are not using the Square Checking product and having your funds transferred to a brick and mortar bank, you may have run into the End of Day issue. If you take payments after Square's End of Day time, which is 5:00pm PST, those funds will show up on your sales but will not be transferred until the next business day. Since you posted on Saturday, I will assume that your sales were from Friday. Any sale you made after 5:00pm PST will have its funds transferred on Monday.

[Stubbies4Us]

That didn't happen for my other sales. 

But I'll note the timeline that timeline as you mentioned, but my sales are either 10 am to 10 pm and 4 pm to 10 pm pts. 

If this is the standard, then Square should alert its customers that their sales will disappear after 5 p.m., visibly as a popup notice, if that is the case for them. ON THE APP. 

[Candlestore]

@Stubbies4Us ;

Square does have this when you read more about how Square Transfer work.

Payments taken before 5 PM PT/8 PM ET will be available in your bank account the next business day. Payments accepted on Friday before 5 PM PT will post to your bank account by Monday morning (depending on your bank’s processing speeds).

Payments taken after 5 PM PT/8 PM ET will be available in your bank account by the second business day. Next business day transfers are not sent on Saturdays.

Which can be seen on this page of Square Deposit Option under Review Transfer Options :

 3807-deposit-options-with-square 

[Candlestore]

@Stubbies4Us ;

To add to what @TheRealChipA already has said, You said you had $600 in transaction and the Transfer was $200, so $400 was missing.

So If I had $600 in sales

and $200 in Credit Card sale

the rest was Cash $400.

Square would only transfer $200 - Square fees.

So look at the Sales Report for that day and Scroll down to see the $ amount for Credit Card sales and also look at the fees.

For a Quick view of this follow the link : https://app.squareup.com/dashboard/sales/reports/sales-summary 

Near the bottom it will show Gross Sales, Credit Card Sales, Cash Sales etc, Square Fees and then a Balance to deposit.

[TheRealChipA]

Good catch, Keith.  I just assumed that the OP meant all sales were card sales.  Duh.

[Stubbies4Us]

It's not cash sale. 

2 days before and 5 days after, I did not have any issues. 

[Stubbies4Us]

.

[Stubbies4Us]

How I know I made more that day than what I received is because I looked at the Sales report. $853, but transfer available is only $451.