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Stuartt's avatar
Stuartt
Experienced Cover User
3 years ago

square and myob invoices

im not an accountant , a trady who does all the myob accounts. a few of my weekly invoices to clients are being paid on my square device. square take there fee so i get a differants amount to my original invoice. i need an easy way to reconcile this , if my clients ask for a reciept i want it to match there payment. Hope this makes sence. 

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  • ChrisMYOB's avatar
    ChrisMYOB
    Former Staff
    3 years ago

    Hello Stuartt 

     

    You would record these as a merchant fee. You should also check with your accounting advisor about how the tax on these transactions should be handled so it's reported correctly on your BAS/GST reports.

    I have attached a Help Article on how to record a payment made through PayPal, as this is the same way you would do so for Square.

    Please let me know how you go.

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