In the current scenario of techno-infused lifestyle, small businesses irrespective of their sizes have adapted to new age automated accounting. With multiple benefits offered (which will be discussed in this article towards the end), automated accounting enables your company with increased sales guaranteed. When we talk about accounting solutions and bookkeeping, the first name that pops in our minds is Quickbooks Online.
And in this article, we will provide you an easy guide to sync Square with Quickbooks Online. Before we dive into the Square Quickbooks Integration, let us briefly know about Square and Quickbooks.
Square is a global payment processor where it lets customers pay easily using their mobile phones or tablets. It makes the merchant’s life easier by processing payments from the customers through online, credit cards and debit cards easily.
Meanwhile, Quickbooks Online is an online bookkeeping solution that helps you to manage all your transaction details and account data into your books.
How to connect Square with QuickBooks Online?
Syncing your Square account with Quickbooks is very easy and can be done in minutes, provided you have a Quickbooks and Square account well in hand. If you already have your accounts opened on both platforms, let’s start the syncing process. Shall we?
Integrating Square and Quickbooks using PayTraQer is a breeze and is just a few clicks away. You do not have to be a techno Spike to perform this integration procedure. Before jumping into the syncing procedure, let’s get to know some basics about PayTraQer. PayTraQer is a top-rated and Intuit trusted automation tool that synchronizes your Square data with Quickbooks.
Also, the tool is built exclusively for Quickbooks synchronization, therefore it’s completely trustworthy. PayTraQer synchronizes all the required details such as Square Customers, Sales, Payouts, Fees, and Taxes into your bookkeeping solution i.e Quickbooks Online, ensuring that your books are accurate. Also eliminating the hassles of manual data entry.
Steps to Integrate Square and QuickBooks
To begin with, you will have to link your Quickbooks account with PayTraQer. We have listed all the steps in detail,
You can add Quickbooks into Paytraqer in two different ways:
- Intuit App: Go to Intuit App Store and select the “Get App” button or simply type PayTraQer in the search bar. You will receive a prompt to authorize “PayTraQer” to connect with your QuickBooks Account. Follow the prompts.
- QuickBooks: Log in to your Quickbooks account and navigate to the Apps menu.
To start with, after heading to your Quickbooks account,
- Look out for the Apps button from the left side menu
- Click on Find Apps at the top
- Type ‘PayTraQer’ in the search bar, and then select the app listing
- Hit on the button that says “Get App Now”
- You will be guided with prompts to complete the installation procedure easily.
Once you have finished connecting your Quickbooks with PayTraQer, you will be piloted to the Payment Systems screen automatically.
Choose the ‘Square’ option and hit on the ‘Connect’ button. You will then be navigated to a new screen where you need to grant permission. Click the “Allow” button to grant the permission and you will be pivoted back to the PayTraQer page.
To obtain perfect sync, you will need to configure a few settings which are easy and completely user friendly. The settings include Sales Preferences, product settings, tax settings, fee settings, payout settings, and expense settings.
Congratulations you have successfully connected Quickbooks and Square using PayTraQer.
Once the installation is completed, Quickbooks looks for your historic/old/previous transactions processed from your Square account. You can import previous months worth of transaction data instantly. Nevertheless, in all cases, you can import all your future transaction data after connecting your Square payments with Quickbooks.
Configuring Square account settings
Here are the steps you need to follow to configure your Square bank accounts.
- Connect your bank account that Square uses to deposit the money.
- While adding your bank account, turn on the Sales Tax Center. This step is vital to ensure the sync works, even if you don’t use the sales tax option. Skip the sales tax rate input if it’s not necessary.
- Head to the Tax Menu, and select the Sales Tax option, and then select Set up tax settings. You will be guided with multiple prompts to set up this feature.
Importing Historic Square Payments in QuickBooks Online
If you remember you just read about syncing Square and Quickbooks using PayTraQer in this article. Well, after completing the sync settings configuration, PayTraQer will automatically pull your last 30 days’ transactions from your Square account.
If you want to enter historical transactions beyond 30 days, prefer entering the transactions one month at a time. Follow this with reconciling all the bank accounts, only then move to the next month.
Benefits of Integrating Square and QuickBooks
Square integration with Quickbooks comes with multiple benefits like time-saving, no manual efforts required, accuracy, and so on, but let us focus on the key benefits as to why Square Integration with Quickbooks can be your go-to choice.
- It imports your Square sales invoices, taxes, tips, and discounts automatically. You don’t have to buzz-in every time a transaction takes place and wait for the data to be recorded manually into your books.
- Reconciling your books is a breeze with matched bank statements of your deposits, payments, refunds, and fees.
- You can create invoices automatically. All your sales-related and item details, and product categories, are recorded so that this data can be viewed without any hindrance.
What are you waiting for?
Try out our 30-day free trial of PayTraQer Quickbooks Automation tool.
For any other queries or assistance, feel free to write to us at [email protected]