Convert Square Transactions CSV to QuickBooks Online
Complete step-by-step guide to converting Square transaction exports into QuickBooks journal entries with proper negative fee handling, refund accounting, and payout exclusion.
❓ Did you export the wrong file? Jump to the fix for "Wrong Square CSV export" error
Quick Answer: Convert Square CSV to QuickBooks in 3 Steps
- 1. Export from Square: Dashboard → Transactions → Export → Transactions CSV
- 2. Upload to TrestleFinance: Preview free (no signup) to verify conversion
- 3. Import to QuickBooks: Download journal CSV → QBO → Transactions → Journal Entries → Import
Why this works: Square uses a 52-column format with negative fees that QuickBooks can't process directly. TrestleFinance normalizes the data, handles the negative fee convention correctly, and outputs QBO-compatible journal entries.
📦 What You'll Get
You Upload
Square Transactions CSV (52 columns)
We Convert
QBO-ready journal CSV + reconciliation XLSX
Fees Handled
Negative fees converted to proper expense debits
What Square Transactions CSV Is and Why QuickBooks Rejects It
A Square Transactions CSV is Square's comprehensive export of all payment activity in your account:
- Card payments (completed, pending, canceled)
- Refunds (full and partial)
- Square processing fees (stored as negative numbers)
- Payouts and transfers to your bank
- Adjustments, chargebacks, and disputes
- Tips, taxes, discounts, and service charges
Why QuickBooks Rejects Raw Square CSVs
QuickBooks Online cannot import Square CSVs directly because:
- ❌ Column names don't match: Square uses "Gross Sales", QBO expects "*AccountName"
- ❌ Fees are negative: Square fees are -$0.33, QBO expects positive expense amounts
- ❌ Date format is split: Square has separate Date, Time, Time Zone columns, QBO needs one JournalDate column
- ❌ Debits/Credits not calculated: Square shows gross/fee/net, QBO needs explicit debit/credit entries
- ❌ Payouts mixed with revenue: Square includes internal transfers that should be excluded from revenue
Example comparison:
| What Square Gives You | What QuickBooks Needs |
|---|---|
Gross Sales: $10.00, Fees: -$0.33, Net: $9.67 | 3 journal lines: Debit Bank $9.67, Credit Revenue $10.00, Debit Fees $0.33 |
Date: 2025-11-20, Time: 14:05:48, Time Zone: America/Detroit | *JournalDate: 11/20/2025 |
Event Type: Payout, Net: $1000.00 | Excluded (internal transfer, not revenue) |
Exact Export Path in Square Dashboard
Follow these steps exactly to export the correct CSV:
- 1. Log in to Square Dashboard: squareup.com/dashboard
- 2. Navigate: Left sidebar → Transactions
- 3. Click the Export button: Top right corner (looks like a download icon)
- 4. Select date range: Choose the accounting period you want (e.g., last month)
- 5. Choose export type: "Transactions CSV" (NOT "Sales Summary" or "Items")
- 6. Click "Export": Square will email you a download link (usually within 5 minutes)
- 7. Download the CSV: Open the email from Square and download the file
💡 Trust Rail:
- ✅ Preview is free - see the converted output before paying
- ✅ Data not stored - your CSV is processed in memory and discarded
- ✅ Export only after you approve - review all transactions in the preview first
Wrong Export Types to Avoid
Square has multiple CSV exports that look similar but have different formats:
❌ Wrong: Sales Summary CSV
Contains summarized sales by category/item, not individual transactions. Missing Transaction ID and Payment ID columns.
❌ Wrong: Items CSV
Contains item/product catalog, not transaction history.
❌ Wrong: Payments Report
Similar to Transactions but may have different column names or missing fee details.
✅ Correct: Transactions CSV
52 columns including Transaction ID, Payment ID, Gross Sales, Fees (negative), Net Total, Event Type, Transaction Status.
Ready to convert your Square CSV?
Upload Square CSV to Preview Free →Square CSV Columns (Real Schema from Production Exports)
Square Transactions CSV exports contain 52 columns. Here are the 11 core columns required for QuickBooks import:
| Column Name | Description | Example Value |
|---|---|---|
Date | Transaction date (YYYY-MM-DD) | 2025-11-20 |
Time | Transaction time (HH:MM:SS) | 14:05:48 |
Time Zone | Timezone of transaction | America/Detroit |
Transaction ID | Unique transaction identifier | Hkx3e3jBdppwkz... |
Payment ID | Payment-specific ID | R2pBppZpuRm... |
Gross Sales | Total charge amount (positive for payments, negative for refunds) | $1.00 |
Fees | Square processing fee (stored as NEGATIVE number!) | -$0.33 |
Net Total | Net amount deposited (Gross + Fees) | $0.67 |
Total Collected | Actual amount collected (may differ from Gross if tips/taxes included) | $1.00 |
Event Type | Transaction category (Payment, Refund, Payout, etc.) | Payment |
Transaction Status | Current status (Complete, Pending, Canceled) | Complete |
Note: Square exports also include 41 optional columns like Card Brand, PAN Suffix, Device Name, Staff Name, Location, Customer ID, Tips, Taxes, Discounts, etc. These are preserved in TrestleFinance's normalized output but not required for basic QuickBooks import.
Fee Sign Convention (CRITICAL: Negative!)
⚠️ Square uses NEGATIVE fees (opposite of Stripe!)
Square stores fees as negative numbers (e.g., -$0.33) to represent a deduction from gross sales.
This is opposite of Stripe, which stores fees as positive numbers.
Square formula: Net = Gross + Fees (because fees are negative)
Stripe formula: Net = Gross - Fees (because fees are positive)
Identity Formula: Verified from Real Square Data
Example from a real Square transaction (verified 2025-11-20):
Gross Sales: $1.00 (revenue from customer)
Fees: -$0.33 (Square's processing fee - stored as negative)
Net Total: $0.67 (what you actually receive)
Validation: $1.00 + (-$0.33) = $0.67 ✓
In QuickBooks journal entries, fees must be converted to positive expense amounts. This is where most manual conversions fail.
How TrestleFinance Converts Square CSVs
TrestleFinance processes Square transactions CSV and outputs three files:
1. Normalized CSV (Universal Format)
Simplified 13-column format with standardized date, gross, fees (converted to positive), net, currency, and transaction type. Perfect for Excel analysis or importing into other accounting software.
Columns: date, type, type_recognized, currency, gross, fees, net, refunds, disputes, reserves, source_txn_id, source_provider, source_category
2. QuickBooks Bank Transaction CSV (Recommended)
Simple 3-column format (Date, Description, Amount) that imports directly into QuickBooks via Banking → Upload Transactions. Best for most users - QuickBooks categorizes automatically.
Import path: QBO → Banking → Upload Transactions → Match transactions
3. QuickBooks Journal CSV (Advanced)
Pre-categorized double-entry journal entries with debits and credits. Requires setting up Square-specific accounts in QuickBooks. Best for users who want full control over revenue/expense categorization.
Import path: QBO → Transactions → Journal Entries → Import
Transaction Grouping Rules:
- Transactions grouped by date + currency + category (Payment, Refund, etc.)
- Fees normalized to positive expense amounts
- Payouts and transfers automatically excluded (internal transfers, not revenue)
- Refunds show as negative revenue (contra-revenue)
- Unknown transaction types flagged with warning (included, not excluded)
Preview Walkthrough (Before You Export)
When you upload your Square CSV to TrestleFinance, you see a full preview of the converted output before paying:
📊 Summary Tab
Shows reconciliation: Total Gross, Total Fees, Calculated Net, Actual Net, Variance (should be ≤ $0.01). Confirms the math is correct.
📋 Normalized Rows Tab
Shows all transactions in standardized format. Look for type_recognized=false to identify unknown transaction types that need manual review.
🏦 Bank Transactions Tab
Shows the 3-column format for QuickBooks bank import. Simplest option - QuickBooks will ask you to categorize each transaction during import.
📖 Journal Entries Tab
Shows double-entry journal format with debits and credits. More advanced - requires setting up Square Clearing, Square Fees, and Revenue accounts in QuickBooks.
⚠️ Warnings Tab
Shows any issues found: unknown transaction types, multi-currency mixing, or identity validation failures. Review these before exporting.
See your Square data converted
Preview Your Square CSV Now →Required QuickBooks Accounts (Journal Mode Only)
If you're using the QuickBooks Journal CSV format (advanced users), you need to create these accounts in your QuickBooks Chart of Accounts:
| Account Name | Type | Purpose |
|---|---|---|
Square Clearing | Asset (Bank) | Tracks Square balance before payout |
Square Fees | Expense | Processing fees charged by Square |
Sales Revenue | Income | Gross revenue from sales |
Sales Returns and Allowances | Income (Contra-revenue) | Refunds issued to customers |
Chargeback Expense | Expense | Disputed transactions |
Note: If you're using the Bank Transaction CSV format (recommended for most users), you don't need to create these accounts. QuickBooks will handle categorization during the bank import process.
For detailed setup instructions, see our QuickBooks Bank Transaction Import Guide.
Common Errors and Fixes
Error: "Wrong CSV format - expected Transactions CSV"
Cause: You exported Sales Summary, Items, or Payments report instead of Transactions CSV
Fix: Go back to Square Dashboard → Transactions → Export and choose "Transactions CSV" specifically. Look for the email subject line "Your Square Transaction Export".
Error: "Debits and credits don't balance" (Journal Mode)
Cause: Fees were not converted from negative to positive, or fee amount was added instead of subtracted
Fix: TrestleFinance automatically handles this conversion. If you're doing it manually, remember: take absolute value of negative fee, then record as debit (expense).
Warning: "Unknown transaction type: Subscription Billing"
Cause: Square has event types beyond basic Payment/Refund that TrestleFinance hasn't seen before
Fix: These transactions are INCLUDED in the export with a warning flag. Review them in the preview and manually categorize in QuickBooks if needed. Report unknown types to TrestleFinance for future classification.
Error: "Multi-currency transactions not supported"
Cause: Your Square CSV contains multiple currencies (USD, CAD, EUR, etc.) and QuickBooks multi-currency is not enabled
Fix: Enable multi-currency in QuickBooks (Settings → Company Settings → Advanced → Currencies). TrestleFinance groups transactions by currency automatically.
Error: "Payouts showing as revenue"
Cause: Payout and Transfer event types were not excluded from revenue calculations
Fix: TrestleFinance automatically excludes Event Types: Payout, Transfer, Fee, Adjustment. These are internal account movements, not customer revenue.
Error: "Refund fees not reversed"
Cause: Expectation that Square refunds processing fees (they don't by default)
Fix: Square does NOT refund fees when you issue a refund. The Fees column shows $0.00 for refund rows. You lose both the refund amount AND the original processing fee. This is correct Square behavior.
Frequently Asked Questions
Why are Square fees negative in the CSV while Stripe fees are positive?
Square stores fees as negative numbers (e.g., -$0.33) to represent a deduction from your gross sales. Stripe stores fees as positive numbers. Both represent the same thing (processing cost), just with different sign conventions. Square formula: Net = Gross + Fees (because fees are negative). Stripe formula: Net = Gross - Fees (because fees are positive).
Does Square refund fees when I refund a payment?
No. Square does NOT refund processing fees when you issue a refund. The fee column shows $0.00 for refund transactions. You lose both the refunded amount AND the original processing fee.
What if I accidentally exported the wrong Square report?
Square has multiple CSV exports (Sales Summary, Items, Payments, etc.). You need the "Transactions" export specifically. If you see columns like "Order Number" or "Total Sales" instead of "Transaction ID" and "Payment ID", you exported the wrong report. Go back to Square Dashboard → Transactions → Export and choose "Transactions CSV".
How do I handle Square payouts in QuickBooks?
Square payouts (transfers to your bank) should be EXCLUDED from revenue journal entries. They are internal transfers, not income. TrestleFinance automatically filters out payout and transfer event types so they don't inflate your revenue.
What does "Event Type: Payment" vs "Transaction Status: Complete" mean?
Event Type describes what happened (Payment, Refund, Payout, etc.). Transaction Status describes the current state (Complete, Pending, Canceled). For QuickBooks import, you typically only want Event Type = Payment or Refund AND Transaction Status = Complete.
Can I import Square CSVs directly into QuickBooks?
No. Square's 52-column CSV format doesn't match QuickBooks Online's journal entry import format. You need to reformat columns, handle negative fees correctly, group transactions by date, and ensure debits equal credits for each journal entry.
What about multi-currency Square transactions?
Square supports multiple currencies, but each transaction is settled in one currency. When exporting to QuickBooks, transactions are grouped by currency. Make sure QuickBooks multi-currency is enabled if you process non-USD transactions.
What are "Subscription Billing" or "Gift Card Load" event types?
Square has many event types beyond basic Payment and Refund. If TrestleFinance encounters an unknown type, it includes the transaction with a warning flag for manual review. These transactions are NOT excluded - you can see them in the preview and decide how to categorize them.
Why does my Square export have 52 columns?
Square includes extensive transaction details: timestamps, location, staff, device, card details, tips, taxes, etc. For QuickBooks import, only 11 core columns are required: Date, Time, Transaction ID, Payment ID, Gross Sales, Fees, Net Total, Event Type, Transaction Status, Time Zone, and Total Collected. The rest are optional.
How long does Square take to process refunds?
Square refunds typically appear in the Transactions CSV within 24 hours. The refund shows as a separate row with negative Gross Sales and zero fees. The original payment row remains unchanged in the export.
What if my Square CSV has missing Net Total values?
Some Square exports have blank Net Total cells for certain transaction types (like adjustments). TrestleFinance calculates Net = Gross + Fees for these rows and flags any discrepancies where the formula doesn't balance.
Can I combine multiple months of Square exports?
Yes, but export each month separately first, then combine the CSV files manually (keeping only one header row). Do NOT overlap date ranges or you'll get duplicate transactions. TrestleFinance automatically deduplicates by Transaction ID if you accidentally include duplicates.
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Frequently Asked Questions
Why are Square fees negative in the CSV while Stripe fees are positive?
Square stores fees as negative numbers (e.g., -$0.33) to represent a deduction from your gross sales. Stripe stores fees as positive numbers. Both represent the same thing (processing cost), just with different sign conventions. Square formula: Net = Gross + Fees (because fees are negative). Stripe formula: Net = Gross - Fees (because fees are positive).
Does Square refund fees when I refund a payment?
No. Square does NOT refund processing fees when you issue a refund. The fee column shows $0.00 for refund transactions. You lose both the refunded amount AND the original processing fee.
What if I accidentally exported the wrong Square report?
Square has multiple CSV exports (Sales Summary, Items, Payments, etc.). You need the "Transactions" export specifically. If you see columns like "Order Number" or "Total Sales" instead of "Transaction ID" and "Payment ID", you exported the wrong report. Go back to Square Dashboard → Transactions → Export and choose "Transactions CSV".
How do I handle Square payouts in QuickBooks?
Square payouts (transfers to your bank) should be EXCLUDED from revenue journal entries. They are internal transfers, not income. TrestleFinance automatically filters out payout and transfer event types so they don't inflate your revenue.
What does "Event Type: Payment" vs "Transaction Status: Complete" mean?
Event Type describes what happened (Payment, Refund, Payout, etc.). Transaction Status describes the current state (Complete, Pending, Canceled). For QuickBooks import, you typically only want Event Type = Payment or Refund AND Transaction Status = Complete.
Can I import Square CSVs directly into QuickBooks?
No. Square's 52-column CSV format doesn't match QuickBooks Online's journal entry import format. You need to reformat columns, handle negative fees correctly, group transactions by date, and ensure debits equal credits for each journal entry.
What about multi-currency Square transactions?
Square supports multiple currencies, but each transaction is settled in one currency. When exporting to QuickBooks, transactions are grouped by currency. Make sure QuickBooks multi-currency is enabled if you process non-USD transactions.
What are "Subscription Billing" or "Gift Card Load" event types?
Square has many event types beyond basic Payment and Refund. If TrestleFinance encounters an unknown type, it includes the transaction with a warning flag for manual review. These transactions are NOT excluded - you can see them in the preview and decide how to categorize them.
Why does my Square export have 52 columns?
Square includes extensive transaction details: timestamps, location, staff, device, card details, tips, taxes, etc. For QuickBooks import, only 11 core columns are required: Date, Time, Transaction ID, Payment ID, Gross Sales, Fees, Net Total, Event Type, Transaction Status, Time Zone, and Total Collected. The rest are optional.
How long does Square take to process refunds?
Square refunds typically appear in the Transactions CSV within 24 hours. The refund shows as a separate row with negative Gross Sales and zero fees. The original payment row remains unchanged in the export.
What if my Square CSV has missing Net Total values?
Some Square exports have blank Net Total cells for certain transaction types (like adjustments). TrestleFinance calculates Net = Gross + Fees for these rows and flags any discrepancies where the formula doesn't balance.
Can I combine multiple months of Square exports?
Yes, but export each month separately first, then combine the CSV files manually (keeping only one header row). Do NOT overlap date ranges or you'll get duplicate transactions. TrestleFinance automatically deduplicates by Transaction ID if you accidentally include duplicates.
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