Square as ATM - how to record?

trythis grahamlane at gmail.com
Wed Aug 24 22:45:37 EDT 2016


I think I may have it figured out.
If I increase a Liability:Square Cash account the amount they want to
withdraw and reduce the Asset:Currency the same amount, it seems to work and
I avoid the whole invoice, income expense paper trail that seems
inappropriate here.



trythis 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 
> 
> Thanks





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