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.
- 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?
- From your online dashboard, go to Balance > Select location. Scroll down to the Balance overview section and scroll to the date in question.
- 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.
- 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.
- 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.
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.
- 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?
- From your online dashboard, go to Balance > Select location. Scroll down to the Balance overview section and scroll to the date in question.
- 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.
- 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.
- 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 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.
Good catch, Keith. I just assumed that the OP meant all sales were card sales. Duh.
