For US users, your Square earnings pull in as two transactions:
- The net income (total income before Square takes its fees) pulls in as an income transaction
- The associated Square Fee pulls in as an expense transaction (this fee is deductible and should be tagged as business)
If you subtract the expense that pulls into Hurdlr from the income that pulls into Hurdlr, it will match the income that Square deposits in your account.
For Canadian users, your Square earnings pull in as one transaction, which is your net income (ie. already reflects Square’s fees). The GST/HST (ie. sales tax) is also calculated on this income.
Additionally, for both the US and Canadian integrations, Square earnings in Hurdlr reflect your daily sales totals, net of refunds. So, for example, if you made 3 sales for $10 each on September 1st, the earning will appear in Hurdlr for $30. However, if you also processed a $10 refund for a purchase from September 1st, your September 1st earnings in Hurdlr will change to $20 ($30 sales - $10 refund). To summarize, if you issue customer refunds, the earning for that day is automatically adjusted to reflect your income after the refund.