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In the article, we hope to help you find what you need. This article will cover issues that may affect you if you use square. Square is an alternative form of payment developed by an American company. Square is a small device that can be plugged into a phone or tablet and used as a card reader, allowing small businesses to make credit card transactions.
Using Square, your payment card is linked to your private information and can complete the purchase and give you a receipt. Square functions almost exactly like a credit card, with the company acting as the middleman in the transaction. They charge a percentage.
While you receive all of your receipts automatically, finding and collecting them can be difficult.
To automate the whole system, all one has to do is
For Your Information – Some companies have closed portals and they don’t send you a receipt on the email. From those vendors, WellyBox automatically collects the receipt from the portal itself, all you need to do is click on the Sync button on the left-hand side of the WellyBox dashboard, find the company portal you want and click on “Connect”.
To manually keep track of all of your receipts require far more effort. To start with, you will need to create a filing system to log different expenses. You’re going to want further to organize these receipts between business and personal expenses, and then every time you get a receipt put it into the file. If it’s digital by saving the email contents, and if it’s a paper receipt, scanning the receipt or keeping it safely logged in a drawer.
Your receipt should show up in your email right after your transaction. There is also a way to recall them on the Square website.
Yes. You should receive an email update every time you handle a transaction via Square.
It would be best if you always kept all your receipts, both personal and business. Individual receipts will help you create a budget and better judge your fiscal situation.
In contrast, business receipts are needed if you want a refund or refunds from your employers for expenses.
Should any questions or difficulties arise from a transaction, you will want to be armed with as much information as possible.
Square may seem like an extension of your credit card, but it isn’t. It’s a system within a system and should be treated as such. You should keep track of what expenses you made through Square and which ones you made through normal credit card transactions to be later able to mark this for taxes. An expense management system does all this for you.