Jaclyn Anku, ProAdvisor Training & Certification Leader: On today's episode of In the Know, we'll be exploring updates to the Square Connector by QuickBooks. Now, you can use the reimagined integration app that imports Square data into QuickBooks Online and save time by eliminating manual entry.
Hey, ProAdvisors! It's Jaclyn, and you're watching In the Know, where you get exclusive access to demos of Intuit product enhancements by the leaders who built them.
Let's jump right in with Pranith for a look at Square Connector by QuickBooks.
Pranith, welcome.
Pranith Vemula: Hi Jaclyn, and thank you so much for having me on the show. I'm super excited to take you on a quick walkthrough of the Square Connector by QuickBooks app. So, I'm Pranith, a product manager at QuickBooks, and I work on the app integrations with QuickBooks and how QuickBooks integrates with third-party apps. This app is specifically designed to make the lives of accountants and your clients easier.
First, I want to acknowledge that for several years, we had an app to import Square transactions to QuickBooks. However, the app had several shortcomings and frequent issues. Many accountants have reached out or even complained about the issues they were facing. I want to let them all know that we heard them loud and clear, and we have taken their concerns very seriously. In our efforts to address these issues and bring a delightful experience, we have been collaborating with Square. We have also closely partnered with several accountants, and some of them were also in the ProAdvisor Panel. We collaborated with these accountants right from the start, and have invested a lot of time and effort into making this the most comprehensive Intuit-built app ever.
Now let's see the app and product. Let's start from finding the app. So this is the apps overview page where you can see all your connected apps, and this, the nine dots icon on the top, is your apps fly out where you can see your connected apps and your recommendations. You might find the new Square app in your recommendations or you can also find it in QuickBooks App Store.
As we see the Square app in the recommendations. Let's go ahead and connect it. The connection flow is pretty simple. You enter credentials, you give consent, and then you review our settings. With this app, you can import data up to two years, and you can also pick and choose the Square locations you want to import. So once you have made these selections, you can click on save, click on sync now, and that's it. Your app is connected.
With the new app, the enhancement that we also added is to have a summary of the transaction import. So in your apps overview page, you can see the Activity Summary, and you can see the summary of transactions imported from the Square app. And if you have any transactions for web view, you can also see it under the tasks.
Now let's go and view our Square transactions. All the transactions from the new Square app will be in the app Transactions tab. The new app is highly configurable and allows you to change settings anytime, so you need not disconnect and reconnect the app to change any settings. In the new App, to make accounting easier and more accurate, we created some default charts of accounts. So these charts of accounts are created to correctly account for adjustments, holds, capital, payments, fees, etc. And as you can see, all of these are highly configurable. You can just change them anytime. Let’s say your client makes a mistake during connection flow; you can change it post connection. You don't need to disconnect and reconnect the app. You can change these settings anytime.
Now let's go to the transactions. As I said earlier in the new app, all the transactions will be imported almost immediately after the sale occurs. So, say a sale occurs in Square; within a few hours you will see a payment received in QuickBooks.
So we import both the individual sales and also the payout, and we link both of them, so the individual sales and the payout are all imported to QuickBooks. To make reconciliation easier in QuickBooks and to avoid needing to go into your client Square account, we import all the rich data from Square into QuickBooks, so customer name, sale amount, shipping, taxes, promotions, adjustments, fees, products and services, and every important information required for reconciliation is imported from Square into QuickBooks. For products and services, we not only import them, but we also try to find matches to existing products and services in QuickBooks. So say, for instance for this product, the aromatherapy candle set, we see that there are a couple of matches. I can see those matches. I can compare them. I can pick which one is right for me, and then that's it. I can link them to that product. So that way I can, you know, make sure all my products and services are correct, and then I can just confirm the transaction.
Now, say you have a lot of transactions coming from Square and you don't want to view all the individual transactions. You just want to view the payouts. You can just change this view here. You can go to View by you can just change it to summary and that's it. You'll only see the payout summary.
Now we’re coming to my favorite enhancement, the Payout view. I'm so grateful to be able to talk to some of you in the process of building the app, and a lot of you have mentioned that you need the ability to view both the payout and the individual sales link to it. Here it is. So with this payout view, we can show you all the details of the payout, and we also show all the individual transactions that are part of the payout.
So these are just some of the enhancements that we have done to the app. There are many more that we have added to make this the most comprehensive Intuit built app so far. We also have elaborate videos explaining how to connect and use the app, and if you are using the old app, we also have a video explaining the differences between the old and the new.
You can find all the videos and more information about the app in the Learn More About Square Connctor link. And as I said, we are still adding new features and enhancements to the app, and your feedback is very valuable to us. If you have any issues with the app, or if you want some new features to be added, you can give us feedback. You can just use this to give feedback. You can send us any issues that you face, or any positive or negative feedback about the app and it will directly come to our team. Our team will reach out to you as soon as possible.
Thank you so much. Jaclyn, this was great, and I hope the Square walkthrough was helpful.
Jaclyn Anku: Pranith, thank you so much for being on the show, and thank you for watching. If you find this update interesting or helpful, go ahead and like, comment, and subscribe. That's all we have for now. For more product updates and demos, check out our In the Know hub. We'll catch you next time.
