Manual Entry of Square Sales and Square Deposits, including how to record Square fees (since Deposit is net, with fees already removed)

It's my top priority to help you manually enter all your Square transactions, nikndick.

You'll have to create a new account so you'll be able to track all the transactions including all your sales in QuickBooks Online. To do this, you can follow the steps below.

1. Click the  Gear ⚙ icon and select Chart of Accounts.
2. Select New to create a new account.
3. In the Account Type ▼ dropdown, choose an account type.
4. In the Detail Type ▼ dropdown, select the detail type that best fits the transactions you want to track. Learn more about detail types.
5. Give your new account a name. Tip: Use the detail type description to create a name that describes what you're tracking.
6. Add a description.
7. If this is a sub-account of an existing account, select Is sub-account and then enter the parent account. Learn more about parent accounts and subaccounts.
8. Now let's make sure the account in QuickBooks matches your real-life bank or credit card account. In the When do you want to start tracking your finances ▼ dropdown, choose when you want to start tracking the transactions:
   • Select Today to start tracking transactions as of today. In the Account Balance field, enter the balance of the account for today. 
   • Select Other to pick a specific date to start tracking transactions. In the Select a date field, choose the date you want to start tracking transactions for the account in QuickBooks. In the Account Balance field, enter the balance of the account for the date you pick.
9. Click Save and Close.

For Square fees, you can add a negative amount for the square fee in the line item when entering a bank deposit. Let me show you how:

1. Click + New
2. Select Bank Deposit.
3. Add the square fee (negative amount) to the line item.
   
4. Click Save and close.

If you're using the Sync with Square app to import sales into QuickBooks Online, you can check the mapping of the downloaded transactions. You can go to the app's setting to review the setup and ensure the transactions will sync correctly.

Here's how:

1. On the left panel, click My Apps.
2. Find Sync with Square.
3. Select Settings.

I'm adding the article for more information: Sync with Square Hub.

For more helpful articles, you can check out this link for your reference.

Reach out to us if you need further assistance about entering your Square transactions. I'll be here to help you.

Glad to have you in this thread, @nikndick. 

Allow me to give more details about entering square deposits and correcting past deposits in QuickBooks Online (QBO). 

If you're using online banking when adding deposits, you can just UNDO the deposits from the In QuickBooks tab. Once done, these transactions will be transferred to the For Review tab.

Here's how:

1. From the left menu, click Banking.
2. Click Banking.
3. Locate the deposit transaction and click Undo.

Once you record all the transactions correctly, you can now start matching downloaded transactions. 

In addition, to lessen the total amount deposited, you can add a negative amount for the square fee in the line item when entering a bank deposit.

Let me show you how:

1. Click the Plus icon (+) at the top.
2. Under Others, click Bank Deposits.
3. Enter the deposit. Under Account, choose Square Fees.
4. Enter a negative amount, under Amount.
5. Click Save and close.

After successfully recording the transactions in QBO, you should be able to match them to the downloaded Square deposit.

Please check out the article about syncing with Square. It explains the setup, the things you need to do in QBO, and the mapping of transactions. 

I'm still here to help you more if there's anything else you need. Just drop a comment below. Wishing you all the best! 

I've figured out how to post my square deposits and separate out the fees by splitting the transaction and posting the two amounts to Sales and then my account for Merchant Fees.  However I am finding out over time that QB is not tracking those "sales" as taxable sales.  How do we set this up so that you can show the "Sales" amount, split out the tax, and the merchant fees and have everything go to the right account and when it comes time to pay quarterly sales tax my totals are correct?  I CANNOT figure this out!!

If you’re doing it all manually, you can batch the monthly totals as journal entries or sales receipts and then add separate expense lines for Square fees so gross and net match up. If you want automation I load Square totals with Skyvia and create the daily entries in QBO. You can find more integration details here.