Square Accounting Software Review 2025
Square Accounting Software Plans & Pricing
Square Comparison
Expert Review
Pros
Cons
Square Accounting Software's Offerings
Square is free in terms of upfront or recurring fees. Instead, you only pay per transaction. This makes it easy to sign up for Square on your own schedule without worrying about wasting money.
With that said, they charge two different transaction fees depending on how the customer pays.
Customer Support
Square provides its customers with nearly every common support option, from phone to live chat to tutorials and blog posts. Customer support is generally pretty strong, too.
That said, the company nudges users towards the Square community, FAQs, and other resources to minimize the need for support agents.
Additional customer support:
Social Media
Square support will respond on social media channels such as Twitter.
Community
Join Square’s seller community to talk about Square and business with other users.
Blog
Square’s blog has more articles about software and small business in general.
Features & Functionality
General Features
Recurring Invoices
Service businesses are often on retained for some of their clients. Sending your retainer clients invoices every month can be a headache, which is only made worse when they seem to dodge around paying you.
However, thanks to Square, you can store client credit or debit cards and set up recurring billing quite easily. Their card will be charged automatically, so they won’t have to remember to pay, and you won’t have to stress about non-payment.
Payment Reminders
Another automation feature Square offers is payment reminders. When creating your invoice, you can schedule payment reminders ahead of time to increase your clients’ chances of paying on time.
Deposits
If you run a service business, you likely require your clients to put down a deposit upfront to reserve a spot in your calendar or protect yourself if they’re a bad client.
Square lets you set up deposits and other milestones, so you can get paid when you complete essential portions of each client project.
Estimate Management
Square provides excellent estimate creation and management features. You can create and send custom, multi-package estimates so that clients can pick the best one based on their needs and budget. Once they choose their package, you can convert the estimate into an invoice with a few clicks.
To streamline documents even further, Square offers numerous contract templates you can fill in and send with the invoice.
Track Expenses
Monitor and categorize expenses for accurate financial tracking.
Square’s accounting software offers a variety of tools tailored to streamline financial management:
- Income and Expense Tracking: Easily categorize transactions and monitor cash flow in real time.
- Invoicing: Create, send, and automate recurring invoices with professional templates that make client billing seamless.
- Bank Reconciliation: Automatically match transactions with bank statements to ensure financial records are accurate.
- Financial Reporting: Access detailed reports, including profit and loss statements, cash flow summaries, and balance sheets, to keep a pulse on your business’s financial health.
- Integration with Payments: All sales and payment data from the POS system syncs with the accounting software, ensuring accuracy without manual data entry.
Tax Preparation
Square makes tax preparation easier by automating key processes:
- Sales Tax Automation: Automatically calculates sales tax on transactions and provides detailed reports for filing.
- Tax-Friendly Reports: Access profit and loss statements, expense summaries, and transaction reports to simplify year-end tax filing.
- Integration with Tax Software: Square integrates with tools like QuickBooks and Xero, ensuring that your tax data is ready for filing without manual intervention.
Time-Saving Automations
Square’s automation tools are tailored to accounting management, reducing repetitive tasks and improving efficiency:
- Automated Invoices: Set up recurring invoices for regular clients, complete with payment reminders.
- Expense Categorization: Automatically sort expenses into predefined categories, simplifying bookkeeping.
- Bank Reconciliation: Match transactions with bank records automatically to avoid discrepancies and errors.
- Real-Time Syncing: All payment and sales data instantly syncs with accounting tools, providing an up-to-date financial view at all times.
Add-Ons
Square offers numerous other small business management beyond their invoicing. Some are free, while others cost money.
Additionally, Square integrates with several administrative and marketing tools to streamline your operations, such as Acuity scheduling software, ActiveCampaign, JotForm, Mailchimp, and TSheets.
Supported Devices
Access accounting tools seamlessly across various devices.
Performance:
Square accounting excels in accuracy and reliability. With its real-time syncing capabilities, data flows seamlessly from sales transactions to financial reports. The automated reconciliation of bank accounts and credit card payments ensures that your records remain consistent, even during high transaction volumes. The system’s robust performance minimizes errors and saves significant time in accounting processes.
Ease Of Use:
Square’s accounting tools are designed to make financial management simple, even for those with little to no accounting experience. The intuitive dashboard provides a clear view of income, expenses, and cash flow, while automated features like bank reconciliation and recurring invoices eliminate much of the manual work. The mobile app ensures you can manage your accounts from anywhere, keeping your finances at your fingertips.
Uniqueness:
Square’s biggest strength lies in its integration of accounting and payment systems. Unlike standalone accounting software, Square combines POS functionality, invoicing, and financial reporting into one platform. This unique integration means you get real-time updates on your financial data without needing to import or export records, reducing the chance of errors and duplication. It’s a holistic solution designed for business owners who want simplicity without sacrificing functionality.
Verdict:
Square accounting software is an excellent choice for small to medium-sized businesses that want an integrated system for managing their finances. Its ease of use, robust automation, and seamless integration with payment systems make it ideal for business owners who need accurate, real-time financial insights without the hassle of manual accounting. While its tax tools and transaction fees may not suit every business, Square’s ability to unify accounting, invoicing, and payment processing into one cohesive platform is a significant advantage for those looking to simplify their financial management processes.
User Review
Write a Review- I feel customer support can be more optimal
- The gift card service is fantastic and money is deposited in a day every time.
- I initially had issues connecting the card reader to my phone, but customer support solved that problem.
- I can email invoices, schedule payments, and re-bill clients.
