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What is Partial Payments Deferred Revenue (Square)?

In this article, we will summarize how Bookkeep customers can map Square Invoices data through our system.

"Deferred revenue" is a liability on any company's balance sheet, which represents prepayments for goods or services to be delivered on a future date.  Square Invoices allows Square customers to send invoices and estimates, schedule recurring invoices, schedule payments, and charge cards on file.

After you've connected your Square account to Bookkeep and you begin mapping your fields, you'll notice that we provide a field for "Partial Payment Deferred Revenue":

Once mapped, this field will capture any partial payments made through Square Invoices and classify them as Liabilities.  When an invoice is fully paid, Square will then recognize this as a Sale so that this data will then flow through accordingly.  

For more information, please contact [email protected]