Square is basically a cloud-based point-of-sale (POS) accounting software that offers reliable and smooth POS-related services to its clients. Like QuickBooks, Square software also includes some key features like management of inventories, customer-relationship management, reporting, and employee handling. However, if you’re using both QuickBooks accounting software and the Square POS app then at some instances you will need to import your Square POS data to the QuickBooks Desktop. Importing data from Square to QuickBooks Desktop is a very simple task, all you need to do is to follow the given below steps.
Steps for importing Square into QuickBooks Desktop
There are two common steps that you may use to import your Square data to QuickBooks Desktop.
- Download the Data from Square POS
- Importing the Sales Data into QuickBooks Desktop
Downloading of Data from your Square POS
Fetching and downloading the needful Data from Square POS is a very simplistic process. For this, go through the given steps below sequentially.
- Initially, you need to open the Square account on your computer.
- Thereafter, navigate to the left menu tab and then choose the Sales option.
- Then from listed options, tap on the transactions tab.
- After that, you need to click on transactions that you want to export.
- Once you have selected the required transactions, then hit the Export option.
- At last, you need to select Transactions CSV.
- Now all your selected transactions are downloaded in CSV format.
Importing the Sales Data into QuickBooks Desktop
In this step, we will learn how to import the downloaded data into QuickBooks Desktop step by step.
- Firstly, you need to log in to your QuickBooks account on the computer.
- Then go to the file option> and then navigate to the Import option.
- After that, you need to tap on the transactions option.
- Now select the Sales receipts.
- Thereafter navigate to the Import sales receipt screen and then go to the Square icon. Now from the listed options, you need to click on the tap on the Import.
- Once you are done with the above-mentioned steps, now you need to select the data that you exported in the previous steps.
- Afterward, choose the bank account which is associated with your Square account. Note: For connecting the bank account you’re using in Square to the
- QuickBooks then you need to open your QuickBooks account and then go to the Banking menu tab. Then from available options, click on the Add Account.
- Now you follow the on-screen instructions to process Square sales payments.
- Then appropriately choose the tax rate of the transactions. (To turn on sales tax center then first go to Taxes menu tab> from listed options, choose Sales Tax> then choose the Set-up sales tax option. Once done, now follow all the pop-up instructions to set up the feature.
- Note: One thing you need to take care that the tax rate set up in a Square account must match with your QuickBooks account.
- After that hit the OK and Import button to proceed further.
- Now your Square app data is successfully imported into your QuickBooks Desktop.
Advantages of Importing Square date into QuickBooks
Importing Square data to QuickBooks allows users/clients to manage small and mid-sized businesses more efficiently. Some key benefits or features of importing Square to QuickBooks Desktop are as follows:
- It allows users to manage their invoices, payments, and deposits much efficiently.
- All the input details/data of credit card payments are batched together as deposits which you can reconcile with any hassle.
- You can easily import your refund information.
- Essential data of items, sales, discounts, and tips are preserved and you can access it any time.
- More than this, you can easily import transaction data for up to 18 months.
Hope you will find this article helpful material for import square into QuickBooks Desktop. However, if in case you encounter any issue while importing the Square into QuickBooks Desktop then you can seek expert help.
For more suggestions and support, you can visit the QuickBooks website where you can find the related links, topics, and video tutorials that would help you with the day-to-day accounting needs on Dancing Numbers.