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Looking for accounting platform suggestions

I've used square for a few years now so I'm familiar with the platform and setup but we've grown into a new venue that has new needs. Previously, I just did my accounting manually but now I'm looking for suggestions on a good platform that integrates with square and assist with a few specific needs

 

Myself and 3 other small businesses now have a physical storefront that we share. Everyone has their products in the system under our own category (each category is our individual business names). I need to be able to easily pull all the transactions for a month, see what each category has made (gross & net), what the square fee for each of each of their transactions was, then from the remaining totals, deduct the 5% they owe to the storefront for overhead, so that we can pay out each vendor. The storefront is handling sales tax as well so we need to provide each vendor with documentation for their own filings. 

 

It was simple enough when I did it for my own business but handling multiple vendors has me a little overwhelmed and I would definitely appreciate some suggestions on accounting software that will make my life easier in sorting this out. 

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Hello @Lynusan! This is a great question. While I don't have any accounting software that I can recomend for this scenario. 

 

Although, I do recommend creating separate Square accounts for each business. If your sales reach over 20k for the year, we will issue you a 1099-K. I could imagine this creating a nightmare come tax season, since three business incomes would be reported under one EIN or SSN. So I highly recommend creating separate accounts. 

 

Please let me know if I can help with anything else! 

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