Manage cashflow efficiently with Square: automate payments, inventory, and financial reporting
Square is a versatile payment processing and point-of-sale (POS) platform that helps businesses manage their sales, payments, and inventory with ease. Whether you’re running a small shop or managing multiple locations, Square provides the tools you need to streamline transactions, automate sales tracking, and integrate smoothly with accounting software.
For bookkeepers and accountants, Square simplifies financial workflows by ensuring every sale is accurately recorded, and all financial data is always up to date.
Why bookkeepers and accountants prefer Square:
1. Comprehensive payment processing
Square handles all payment types—credit cards, debit cards, contactless payments like Apple Pay, and even gift cards. This means bookkeepers don’t have to juggle multiple systems, and reconciliation becomes easier since every transaction, whether in-person or online, is automatically tracked in one place. By centralizing payment processing, Square helps bookkeepers save time and maintain accurate financial records.
2. Real-time sales reporting
Square gives bookkeepers and accountants real-time access to sales data. With detailed reports on sales, taxes, and discounts, financial professionals can quickly pull the data they need for accurate reporting without the hassle of manual tracking or entry. This real-time insight ensures better decision-making for both businesses and bookkeepers, making it easier to monitor financial performance and cash flow.
3. Easy inventory management
For businesses selling products, Square‘s inventory management tools make tracking stock simple. It alerts you when stock is low and allows for bulk uploads, ensuring that bookkeepers can sync inventory data with accounting systems and maintain accurate financial reports. By automating inventory tracking, Square helps bookkeepers minimize discrepancies and manage costs effectively.
4. Seamless accounting integration
Square integrates seamlessly with major accounting platforms like QuickBooks and Xero, eliminating the need for manual data entry. Sales, refunds, and expenses are automatically synced, allowing bookkeepers to focus on more valuable financial tasks instead of back-office headaches. This integration reduces errors and helps ensure financial records are always accurate.
5. Customizable invoicing and payments
Square lets businesses create and send professional invoices, with automatic reminders for overdue payments. For bookkeepers, this feature makes managing accounts receivable easier by ensuring payments are on time and reducing the need to chase down invoices. The platform also supports partial payments, which can be easily tracked, helping bookkeepers manage cash flow more effectively.
6. Automated sales tax calculation
Square automatically calculates sales tax based on the customer’s location, ensuring businesses comply with local tax laws. For bookkeepers, this eliminates the risk of errors in tax filings and makes sales tax management a breeze. Automated tax calculations save time and help avoid costly compliance issues.
Why CoCountant chooses Square
At CoCountant, we choose Square because it simplifies payment processing and keeps financial data accurate and easy to manage. Whether it’s tracking daily sales, automating tax calculations, or syncing with accounting software, Square helps us streamline our bookkeeping services and provide real-time insights to our clients. By using Square, we help our clients stay on top of their cash flow and ensure their financial records are always accurate.
If you’re looking for a partner to enhance your financial operations—whether it’s for efficient payment processing, automated sales tracking, or seamless software integration—CoCountant can help. Speak to us today to learn more about how our bookkeepers and accountants can support your business’s growth with Square.
Frequently asked questions
Why should I use Square for my business?
Square is an all-in-one solution for processing payments, managing inventory, and tracking sales.
It’s ideal for businesses of all sizes that want to simplify financial operations, accept various payment methods, and get real-time insights into their sales. With easy integration into accounting software, Square helps keep your finances organized.
What does Square cost?
Square has no monthly fees for basic payment processing. It charges 2.6% + 10¢ per transaction for in-person payments and 2.9% + 30¢ for online payments.
For businesses with high transaction volumes, custom pricing is available.Can Square integrate with my accounting software?
Yes, Square integrates with QuickBooks, Xero, and other accounting platforms. This automatic sync keeps your financial records accurate and reduces the need for manual entry.
Is Square secure for managing customer payments?
Yes, Square uses top-notch encryption and is PCI compliant, ensuring that all payments are securely processed. The platform also offers fraud detection tools and dispute management, providing peace of mind for businesses handling customer transactions.
How quickly can I set up Square for my business?
Setting up Square is quick and easy. After creating an account, you can start processing payments right away with Square’s card readers, POS app, or online store.
The platform is designed for fast onboarding, making it a great solution for businesses that need to get up and running quickly.
Can Square handle online and in-person payments?
Yes, Square supports both in-person and online payments, making it easy to manage all sales in one place. Whether you’re selling in-store or through your website, Square has you covered.
Does Square offer customer support?
Yes, Square offers customer support via phone, chat, and email. They also provide a wealth of online resources, including tutorials and guides, to help businesses and bookkeepers get the most out of the platform.