Once you sync the cash transaction from the payment processor into your accounting company the Sales Receipt for the total amount of sale will be created on QuickBooks/Xero side.
Sales Receipt is deposited into a clearing account (Square Bank Account) and is categorized according to your already existing in QuickBooks product’s income account categorization or according to your Synder settings (Products/Services tab) in case you have a new product in the transaction.
Cash Payments can be synced into a separate bank account (as opposed to default clearing one) and settings for them can be prepared according to your specific needs. You just need to create additional settings and specify a preferable account or any additional option there.
To create additional Settings for Cash Payment please follow the simple steps below:
- Go to Settings (Gear icon in the upper right corner of the app)
- From the drop-down select the Payment platform you want to import from (in case you have several Payment platforms)
- From the appeared left menu select General tab
- Select Create additional settings
- From the appeared drop-down select Cash payment
Congratulations! You have just successfully created additional settings for Cash Payments and can set up them according to your specific needs.