Hi gastronomicjourneyltd,
Welcome to Community! It's essential that your Square transactions can be automatically matched in QuickBooks Online. I would be happy to provide some insight here.
Based on the information you've provided, it sounds as though Square may be applying a processing fee from each transaction to use their service, which will alter the the total for the transaction.
Bank fees can throw your transaction amounts out of balance, making it difficult to match them to your books. QuickBooks enables you to manage the bank fees so your records match, and you can reconcile without discrepancies. First you'll need to create an expense account for the fees, if you haven't done so already. Here's how:
1. Open your Settings ⚙ and select Chart of accounts
2. Click New
3. Create an Expense account for bank charges and give it a name
4. Hit Save and close
Follow these steps to record the fees;
1. From the left menu, open +New, then select Receive payment
2. Checkmark the box next to the invoice you would like the payment to be applied to
3. Choose Undeposited funds from Deposit to ▼ dropdown
4. Hit Save and close
5. Select + New, then Bank deposit. You should see the payment you entered in the Select the payments included in this deposit section at the top.
6. Place a checkmark to select the payment you want to deposit
7. In the Add funds to this deposit section, enter the amount of the bank service fee charged to you, as a negative amount
8. From the Account section, select the account you created for tracking bank fees
9. Verify that the deposit amount is correct
10. Select Save and close to record the transaction
Should you require additional assistance, please don't hesitate to contact us.
Feel free to reach out again, if you have other questions. We would be happy to help!
