{"id":11079,"date":"2019-07-02T20:45:58","date_gmt":"2019-07-02T20:45:58","guid":{"rendered":"https:\/\/cloudbusinessllc.com\/?p=11079"},"modified":"2026-06-10T16:46:52","modified_gmt":"2026-06-10T16:46:52","slug":"reconcile-square-payments-in-quickbooks","status":"publish","type":"post","link":"https:\/\/synder.com\/help\/reconcile-square-payments-in-quickbooks\/","title":{"rendered":"Per-Transaction: Square Clearing Account Reconciliation Guide (QuickBooks Online)"},"content":{"rendered":"\n

What are the steps necessary to reconcile a bank statement? Why is it important to reconcile your bank statements? Find the answers in this helpful article!<\/p>\n\n\n\n

Overview:<\/b><\/p>\n

    \n\t

  1. Reconciliation process by Synder<\/a><\/p><\/li>\n\t

  2. Customizing Your Synder Settings<\/a><\/p><\/li>\n\t

  3. How to reconcile in QuickBooks<\/a><\/p><\/li>\n<\/ol>\n\n\n\n

    Reconciliation process by Synder<\/strong><\/h2>\n\n\n\n

    In this guide, you can find out how to reconcile Square in QuickBooks with the help of Synder. 
    Our customers who process Square accounting have found that the most accurate way to record all Square sales, fees, and refunds is to sync everything into a Square (required for Synder) account in QuickBooks Chart of Accounts and enable payouts processing for     reconciliation<\/a> ready matches between Square payouts and withdrawals made to your checking.  So you basically reconcile Square deposits <\/strong>on your Checking account with the help of Square QuickBooks Online integration<\/a>.<\/p>\n\n\n\n

    Customizing Your Synder Settings<\/strong><\/h2>\n\n\n\n

    First, go to Settings<\/strong> in Synder and select Square in the Integration dropdown to make sure all the accounts are selected correctly.
    Make sure you have the clearing (Square (required for Synder) account) account selected as a Clearing account in the Sales<\/strong>, Fees <\/strong>and Application fees<\/strong> tabs.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    In case you don\u2019t have an account with \u201cSquare\u201d in it, the system will auto-create it. Check your Synder settings to make sure you have that account selected as Bank account in Sales, Fees and Application fees.<\/p>\n\n\n\n

    Enable the payouts feature<\/a> and select your Checking account into which you deposit actual funds from Square in Transfer Funds To<\/em> in order to automate the matching process to reconcile.<\/p>\n\n\n\n

    \"Enable<\/figure>\n\n\n\n

    Synchronize Square transactions with QuickBooks automatically<\/a> or turn on the manual mode.
    NB!<\/strong>: this will work for newly appearing transactions, historical ones are to be synchronized manually if that is needed. See how to     import historical transactions<\/a> into your accounting platform to reconcile in your accounting company.<\/p>\n\n\n\n

    How to reconcile in QuickBooks<\/strong><\/h2>\n\n\n\n

    Open For Review <\/em>list in QuickBooks Banking and click on match<\/em> next to Square withdrawals. 
    *Keep in mind that according to the way you set up your Square, in most cases real funds from Square are transferred to your checking reconcile account 3\u20137 days after the actual payment took place.<\/em><\/p>\n\n\n\n

    \"click<\/figure>\n\n\n\n

    Congratulations! You have successfully pulled in all Square data and can easily reconcile your checking account now avoiding manual data entry and having recorded all sales, fees, expenses, and refunds. Reconcile your account with Synder in one click!<\/p>\n\n\n\n

    Reach out to the Synder team<\/em><\/a> via online support chat, phone, or email with any questions you have \u2013 we\u2019re always happy to help you!<\/p>\n\n\n\n