- If you’ve created an integration prior to the update that was released on 17 May 2023, the clearing accounts for Cash, Third Party Cards, and Other Payments have been replaced. You need to zero them out and reconcile any deposits to the new clearing accounts.
How it works
New clearing accounts were automatically created and mapped to the following payment types:
- Cash – Square Cash Clearing (account number starts with 570)
- Other and Third Party Card – Square Other Payments Clearing (account number starts with 572)
- Square Card – Square Balance (new) (account number starts with 572)
These payment types are now synced as payments instead of a line in the invoice
Before reconciling or allocating deposits to the new accounts, we recommend you to zero out the balances of the deprecated accounts. To do this, you may follow the steps below:
- Sign in to Holded.
- At the top menu, go to Analytics > Reporting.
- Click Finances and then Balance Sheet.
- Select the appropriate date range and show the subaccounts.
- Copy or take note of the balances of Square Cash Clearing and Square Other Payments Clearing under the 430 Clientes group. If your balances are in negative amounts, please do not proceed and consult your accountant or bookkeeper.
- Create a General Ledger entry by clicking Accounting > General Ledger > New Entry.
- Choose the appropriate date.
- Choose the new clearing account from the dropdown on the first line. The account code starts with 570, and the account name is Square Cash Clearing.
- Under the debit column, input the Square Cash Clearing Balance you’ve noted from the Balance Sheet.
- On the second line, choose the old clearing account which starts with the account code 430, and the account name is Square Cash Clearing.
- Under the credit column, input the same amount.
- Click Save.
- If there is a balance on the Square Other Payments account, repeat steps 6-12.
When you have transferred the balances to the new clearing accounts, you need to allocate or reconcile the cash and other deposits to these new accounts.