What is Quickbooks Square Payroll Integration & How does it works?
Integration of Square payroll with QuickBooks makes your business more flexible by importing expenses and sales automatically. Here’s a question for you before continuing to the blog, ‘Have you ever heard about the Square app or if you already know about Square and using it then why you don’t integrate with QuickBooks?
The integration of QuickBooks with Square will alter the way your company grows. And if you use Square and QuickBooks separately, it’s time to synchronize them. Let’s read the blog to make this done with much ease.
Benefits of square payroll integration with QuickBooks
When you connect Square to QuickBooks, it offers many features and benefits to its users of small or mid-size businesses.
Some of these features include:
- Without the need for additional software, users can import invoices, payments, and deposits from Square into their QuickBooks accounting tool automatically.
- Data can be entered in such a way that purchases by credit card are batched as deposits together and hence quickly reconciled.
- Taxes, discounts, and tips are maintained for descriptions of products and sales data, provided the item names exist inside QuickBooks.
- Refunds can be imported.
Let’s see how integrate Square with QuickBooks is better together
In QuickBooks, transactions from Square will automatically appear when both are synced.
- Easily reconcile your books: Sync features help to keep your books up to date, matching your bank balance with your deposits, purchases, refunds, and fees.
- Avoid manual data entry: Avoid manual data entry stress now because everything is automatically imported into QuickBooks overnight from sales, fees, taxes before discounts, saving your precious time.
- Invoices are automatically created: The sync function generates invoices automatically.
- Display all your payments in one place: It reveals all of your Square-related payment processing fees to you.
Limitations of the square and QuickBooks integration
It is also important to consider the drawbacks of this bond, as you already know that QuickBooks and Square integration make a powerful combination.
The following are the points indicated below:
- The regular transaction report is not available.
- You can’t import a buyer’s information such as name or email ID.
- A QuickBooks invoice cannot be charged with the assistance of Square.
- Square sails are imported in the form of invoices and transfers to QuickBooks.
- It is not possible to evaluate transactions before importing them.
Important pointers need to check before integration
- In QuickBooks, you must login as an Administrator along with single-user mode.
- Before running the software, it is advisable to reboot the PC.
- Make sure that your machine has QuickBooks installed.
- To do this integration, the system should have Windows 7, 8, or 10.
- During installation, the company files that you want to sync should be available.
Steps to integrate square payroll with QuickBooks
To integrate square payroll with quickbooks, You need to follow mentioned below steps:
Total Time: 12 minutes
In the beginning, go to the online Square Dashboard and sign in to Payroll section
Next, click Settings >> Intuit QuickBooks
Now, click Connect, if you’re already logged into your QuickBooks then you can login using QB login credentials
After that, click Authorize
Map each of the category of Square Payroll corresponding QuickBooks category
By default, subcategories for Square Payroll are combined with their parent categories and reported
Use the drop-down menu to pick the desired category if you would like a subcategory to be listed as a separate line item or reported in another QuickBooks Online category
Select Save when all the categories have been mapped.
Edit the Category mapping if required
- First, go to the online Square Dashboard and sign in to Payroll section
- Next, click Settings >> Intuit QuickBooks
- Now, click Edit
- And then edit the category mapping
- In the end, click Save.