![]() You can change your choices at any time by visiting Cookie Preferences, as described in the Cookie Notice. Click ‘Customise Cookies’ to decline these cookies, make more detailed choices, or learn more. Third parties use cookies for their purposes of displaying and measuring personalised ads, generating audience insights, and developing and improving products. ![]() This includes using first- and third-party cookies, which store or access standard device information such as a unique identifier. If you agree, we’ll also use cookies to complement your shopping experience across the Amazon stores as described in our Cookie Notice. We also use these cookies to understand how customers use our services (for example, by measuring site visits) so we can make improvements. Hopefully this all makes sense, let me know if you have any questions or need clarificationWe use cookies and similar tools that are necessary to enable you to make purchases, to enhance your shopping experiences and to provide our services, as detailed in our Cookie Notice. If you'd like to turn GST off, simply follow the steps at h ttps:///help/au/en/article/5061-add-goods-and-services-tax-gst-and-modify-your-tax-setti. So having GST turned on or off has no practical impact on the amount of money you'll receive from transactions processed through Square. They key difference is that if GST is turned on your receipts will mention that the amount is GST inclusive (and we'll show this in your sales reports as above). If you're not registered to take GST then you won't need to set anything aside for the ATO - you'll just need to remember that the GST amount in your first transaction was included erroneously.īy default, GST is turned on for Australian Square accounts. We do display a net sales figure minus GST in your emailed sales report - however this amount is NOT deducted from your deposit. We highlight net sales minus GST for bookkeeping purposes only - so you know how much to put away for tax if you have it turned on. The good news is that you won't have been short changed for the transaction - Square does not take tax on behalf of the ATO, and we transfer the full amount of your transactions (minus our card processing fees) into your bank account in your deposits. Hope this helps, let me know if you have any questions! Using the above formulas accounts for this small change to the overall fee on transactions if you’re adding a surcharge. Square’s card processing fees are based on the overall transaction amount, so if you’re adding $1.90 to a $100 transaction, the transaction becomes $101.90, not $100. If you would like to pass on credit card processing charges to your customers, you can use the following to manually calculate what you would charge.įor transactions put through a Square Reader at 1.9%:Į.g. At the moment Square doesn't have an automatic surcharge feature - we actually advocate for going completely surcharge free, and simply build card processing costs into the overall price of your goods/services in the same way you would for general business operating costs such as staff, rent and utilities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |