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Anonymous Accountant

Square Fees

Asked on July 7, 2020

Hi, I would like to know how do I account for Square fees? I currently use QBO and I haven't included the fees at all. The way I do it is I create an invoice & collect the amount that is deposited into my bank vs what was invoiced and received via square. Could someone provide some insight on the proper way to record this transaction?

Answers

Werner Reisacher's headshot
Werner Reisacher CEO • July 10, 2020

I hope this URL answers your question.

https://quickbooks.intuit.com/learn-support/en-us/install/square-processing-fee-question/00/194912

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Filed Under: Accounting
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