Square’s partnerships to help businesses with their accounting

Square customers in Canada are now going to get access to three new accounting services, thanks to Square Inc.’s latest integrations.

This week, Square announced integrations with Intuit’s QuickBooks Online, Xero, and Stitch Labs. Canadian businesses using Square Register to collect payments will also be able to import and sync their sales and inventory data with these three other applications.

Square Register already allows businesses to accept credit card payments from Visa, MasterCard, and American Express, as well as to track all incoming payments via credit, debit, cheques, and cash. The product also makes business owners’ lives easier by depositing payments into their bank accounts within one or two business days.

However, what’s missing from that point-of-sales (POS) solution is the accounting side. By integrating with QuickBooks Online, Xero, and Stitch Labs, Square is saving itself the step of having to develop another accounting-related product. It also simplifies things for small businesses, as it allows them to sync their data into accounting and inventory management software by clicking.

Using QuickBooks Online and Xero, Square customers can now track their Square sales from within their accounting software to see how their finances are performing. And with the Stitch Labs integration, customers can get access to streamlined inventory and data across different sales channels, like through an online store or through their physical POS hardware. They can also track their item counts and build purchase orders, all in one spot.

Aside from Square Register, the company also provides business owners with tools like the Square Stand, which makes an iPad into a POS terminal. Business employees can use it to take orders, while swiveling it around to face customers, who can then sign off on a credit card purchase on the iPad screen.

Square has also built the Square Reader, a small dongle that fits into mobile devices like smartphones. It allows businesses to take credit card payments while on the go – for example, if they’re at a farmer’s market or a street sale.

Square’s Canadian office is based in Waterloo, Ont.

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Candice So
Candice Sohttp://www.itbusiness.ca
Candice is a graduate of Carleton University and has worked in several newsrooms as a freelance reporter and intern, including the Edmonton Journal, the Ottawa Citizen, the Globe and Mail, and the Windsor Star. Candice is a dog lover and a coffee drinker.

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