Square as ATM - how to record?

[John Ralls]

> On Aug 24, 2016, at 7:26 PM, trythis <grahamlane at gmail.com> wrote:
> 
> People go to a farmers market in my neighborhood and the non profit I do
> books for lets people get cash with Square.  
> 
> How do I correctly organize this transaction?
> 
> They give us money in the form of a credit card purchase, we give them cash
> from a box.
> 
> Sometimes they buy something and get cash out as well so the Square
> transaction is split.
> 
> FOr example:
> 
> 6/6/15 | John Doe |  gives us $82 with a credit card and the split looks
> like this
> Assets:Square $79.74 
> Expense:Square Fee $2.26 
> ####what do I do here?###  $62.00 (this is what we gave to the person)
> Income:Donation $20.00 
> 

You should have a cash account for the "money in the box", and you should credit it the $62 because that's what you did.

Regards,
John Ralls