PLZ HELP - Completed Sales vs. Total Sales Discrep...

ample · ‎03-18-2022

I just started this week and all my transactions are keyed in. When I look at my Activity, it shows Sales $5300, which I transferred to my bank account. However, when I look at the Total Net Sales, it shows $6900. Under my Balance, it shows $0. So where did $1600 go? No Returns, no Discounts, no Chargebacks. Please tell me what I'm doing wrong and where to find the missing $1600.

Thank you guys so much,

A.

jjsmeatshak1 · ‎03-19-2022

Hi @ample So I think the difference is going to be fees that are being taken out! When you key a card in, you are generally paying more fees on that transaction due to the fact there is more room for error and chargebacks. So, I would recommend getting a reader or POS of some sort to run square. Square takes out their % before each time it is sent to the bank. I would run your report again and look for: See how ours breaks down below!

Fees:

($593.89)

Square

($534.10)

Delivery Related Fees

($59.79)

Jacob - He/ Him
JJs Meat Shak - Co-Owner& Operations Manager
Supper Seller- Here to help! Just Ask!
http://www.jjsmeatshak.com

Candlestore · ‎03-19-2022

@ample ;

1st - When entering a Credit Card and typing in the Card Number etc the fees are greater than using a card reader.

2nd - Did you take any Cash for a sale? That Cash would be in the $6900 total but not in the $5300 transfer.

3rd - you say You Transferred $5300 to your Bank account... Do you mean you did an instant Transfer? This also has a fee or % taken out of your earnings.

I have my Square sales set to transfer the next day or on Monday from the weekend, the money is always there the next day or Monday unless there is a Federal Holiday that the banks are closed. This way of transferring money from Square to my bank has no fees to transfer your balance from Square to your Bank.

If you follow this Link to Your square dashboard and sales summary you should see all the fees and cash etc. you received this week. it breaks it down By Cash, Taxes, Discounts, Fees (Squares).

Follow this link to Your Dashboards sales-summary report:

dashboard/sales/reports/sales-summary

Keith
Owner
Pocono Candle

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ample · ‎03-20-2022

Thank you for the detailed answer.

PLZ HELP - Completed Sales vs. Total Sales Discrepancy