Overview:

  1. General settings

  2. Sales

  3. Products/Services

  4. Taxes

  5. Fees

  6. Application fees

  7. Payouts

  8. Multicurrency

If you connected your company and your account it is high time to customize your settings. You can always find them by selecting the organization needed at the top right of the page – – > Settings button on the left menu of the app – – > find payment platform (if you have several connected) you want to customize settings for – – > click on the Configure button:

Your Default settings will work for all transaction types from Square. Use the “Create additional settings” option only in case you would like to set different configurations to specific types of transactions (used rarely for very specific flows).

1. General settings

1. Synchronize Automatically – when “ON”, the system will automatically synchronize transactions that come into the app after the setting has been enabled. When “OFF”, you can manually choose transactions to be synced.
Learn more about how to sync payments in auto-sync Synder mode.
2. Skip synchronization for duplicated transactions – when “ON”, transactions that already exist in your QuickBooks Online company will not be synced again.
3. Apply payments to unpaid Invoice/Bill transactions – when “ON”, once the system encounters a payment that matches an unpaid invoice, it will be automatically applied to it. For this setting to work properly, make sure the customer name matches on Square and QuickBooks ends.
4. Skip synchronization for transactions in a foreign currency – when “ON”, the system will synchronize transactions in your home currency only. Synchronization of transactions in other currencies will be skipped.
5. Shipping Item Name – if the app encounters this name in one of your invoice line items, it will parse it as shipping item and it will account for it accordingly.
6. Apply location – when ON, you may select the location associated with the payment, this location will be applied to any synced transaction. Please note, that tracking of the location should be enabled on the QuickBooks Online side.

2. Sales settings

1. Bank account – a buffer account that QuickBooks sales receipts, refund receipts and payments will be deposited into. In case you do not have an account with “Square” in its name, it will be auto-created in your Chart of Accounts with name “Square Bank Account”.
2. Enable QuickBooks Doc Numbers – by enabling this configuration your transactions will follow the standard QuickBooks Doc Number sequence.
3. Apply default customer – when “ON”, it assigns a default customer name to all of your transactions. Click on to select a name. Choose from existing ones or type in a custom name.
4. Payment Method – choose a payment method (cash, check, credit card or Square) that will be set for QuickBooks sales receipts, refund receipts, payments and expenses.

Connect Square with QuickBooks Online

3. Products and Services tab

This setting tab is targeted at NEW products and services which are created during the synchronization. Product/service type can only be non-inventory or service (no Quantity on hand information to create inventory items), however you can change created products to inventory later on QuickBooks side. Existing inventory products will be properly updated.

The income account specified here will be used for creating new products and services only. Learn more how to categorize transactions in Synder.

  1. Generic product when “ON”, it assigns a default product name to all of your transactions. Choose from existing ones under Default Product or type in a custom product name and press enter.
  2. Product/Service type – choose between Non-inventory or Service. This will be used for creating products and services which do not exist in your accounting company yet.
  3. Gift Card Liability Account – choose an account for gift cards and certificates. For more info please have a look at this guide [click here].
  4. Product mapping – Synder is able to identify existing products in your accounting company and apply them to transactions. If product names in your payment system and accounting company don’t match 100%, fill in the product names from your payment platform in the right field to map it to product names from your QuickBooks in the left field. Check out an additional guide about product mapping feature.
  5. Default product – choose or type in a name to be used if there is no product name to be found in your transaction.
  6. Product Income account – choose an account that will be used for creating new products and services which do not exist in your accounting company during the synchronization.

4. Taxes tab settings

This tab can be different based on the country version of your accounting company and taxation system there, so it is okay if you will not have some fields, the app automatically catch up with your company settings. Learn more how sales tax work in Synder.

  1. Apply taxes – when “ON”, the system will search for a matching tax code and apply taxes to taxable on Square end transactions onlн. In case it is “OFF”, a tax amount will be included in the total sum.
  2. Sales tax settings. Default tax code – available if the Apply generic tax code setting is “OFF”. Used only in case the tax name was not found or if something doesn’t work properly.
  3. Sales tax settings. Zero-rated tax code – choose a zero-rated tax code the app will apply to every item (line)/shipping line which doesn’t contain any other tax rate in the original transaction.
  4. Apply generic tax code – when ON the system will apply the tax you specified in the settings to any synced sales transaction (even if there is no tax code in the transaction on Square end).
  5. Expense tax settings. Apply generic tax code – when “ON”, the app will apply the tax rate you specify in the settings to both taxable and non-taxable Sales transaction you sync with the app.
Synder Taxes Tab for Square Settings

5. Fees tab settings

1. Bank account – this setting specifies the bank to which the Square fees are applied. We recommend to use the same account as in Sales – Bank Account, highly recommended to use Square Bank Account.
2. Vendor – the app will use this QuickBooks Vendor to store your Square fees. Select available, or type in a custom one.
3. Category – this setting specifies the category to which the Square fees are applied, people like to use something like “Bank Charges and Fees” category.

Synder Fees Tab for Square Settings

6. Application fees

  1. Bank account – this setting specifies the bank to which the application fees are applied. We recommend using the same account as in the Sales – Bank account.
  2. Generic Vendor – the app will use QuickBooks Vendor you select to store your application fees. Select available, or type in a custom one.
  3. Category – this setting specifies the category to which the application fees are applied.
  4. Default Vendor name – сhoose or type in a default name to be used if there is no vendor name to be found in your transaction.

7. Payouts

This tab allows you to track Settlements that Square deposits to your checking account. The app will record them in QuickBooks, allowing for a simple matching of your actual deposits from Square. The app will not duplicate your income, it will just create a matching record on the accounting system end for easy reconciliation.
It is matched under For Review tab in the QuickBooks Banking tab.
1. Process settlements – when “ON”, the app will track and create transfers reflecting Square payouts to your checking account (from your “Square Bank Account” to your checking account).
2. Transfer Funds To – Choose the checking account that your Square funds are actually deposited to. For example, “Checking” or “ Business Checking”.

Synder Payouts Tab for Square Settings

8. Multicurrency

You can find how to customize Multiple Currencies here in the Multicurrency tab. Learn how to enable multicurrency in QuickBooks.

You haven’t found your questions in the tips, ask our support team via online support chat.

Learn more about each integration:
Square QuickBooks Online integration
Square QuickBooks Desktop integration
Square Xero integration

Note: the Synder app can connect as many platforms as you need.


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