Customize your Close of Day

Square will group and send payments based on the time you choose to close your business day. This is referred to as your “close of day.” Setting a close of day time ensures that a full day’s business activity is included in one deposit.  

Close of day is ideal for businesses that stay open after 5 p.m. PT/8 p.m. ET (or your time zone’s equivalent). If you choose a close of day time after 5 p.m. PT/8 p.m. ET (or your time zone’s equivalent), your deposit will be delayed one business day and you should receive your deposit two business days later (weekends and holidays excluded). 

Set a Close of Day Time

You can set a custom close of day time for each day of the week. To do so:

  1. Sign in to your online Square Dashboard > click Sales > select Deposits.
  2. Click and select a Close of Day time. It’s recommended that you set your close of day one hour after your actual closing time to provide a window for last minute sales.
  3. Click Apply Adjustment..

Note: Your set close of day time will be the same for each day. The ability to assign different times by day isn’t available. 

Below are two examples to further explain how close of day works.

Example #1

A casual-dining restaurant closes at 2 a.m. PT. The restaurant owner sets a 3 a.m. PT close of day time.

At the restaurant’s close of day (3 a.m. PT), Square will group all sales from the last 24 hours in a single deposit. For example, sales made in a 24 hour window, between Tuesday at 3 a.m. PT and Wednesday at 3 a.m. PT, will be grouped in one deposit on Wednesday at 3 a.m. PT. The deposit will automatically initiate on Wednesday at 8 p.m. PT and post Thursday morning. 

Example #2

A retail business closes at 10 p.m. PT Tuesday - Sunday, and has set an 11 p.m. PT close of day time.

On a typical Tuesday, the business owner accepts payments from opening at 12 p.m. to closing at 10 p.m PT. At the set close of day (11 p.m. PT), Square will group all payments accepted for this business day in a single deposit. The deposit will automatically initiate Wednesday evening and post to the owner’s account Thursday morning.

Example Deposit Schedule for 11 p.m. PT Close of Day Time

Transaction Date Deposit Initiated Deposit Completed
Sunday 11 p.m. PT to Monday 11 p.m. PT Tuesday 8 p.m. PT Wednesday morning
Monday 11 p.m. PT to Tuesday 11 p.m. PT Wednesday 8 p.m. PT Thursday morning
Tuesday 11 p.m. PT to Wednesday 11 p.m. PT Thursday 8 p.m. PT Friday morning
Wednesday 11 p.m. PT to Thursday 11 p.m. PT Friday 5 p.m. PT Monday morning
Thursday 11 p.m PT to Friday 11 p.m. PT Sunday 8 p.m. PT Monday morning
Friday 11 p.m. PT to Saturday 11 p.m. PT Sunday 8 p.m. PT Monday morning
Saturday 11 p.m. PT to Sunday 11 p.m. PT Monday 8 p.m. PT Tuesday morning

*Deposit times are approximate. 

Change Your Close of Day Time

  1. Visit Deposits in your online Square Dashboard.
  2. Click “Adjust Close of Day.”
  3. Confirm your time zone and set a new close of day time.
  4. Click Apply Adjustment.

Note: If you’ve customized your close of day time and you’d like to revert back to our standard deposit schedule, adjust your close of day to 5 p.m. PT or your time zone’s equivalent. 

Learn more about Square’s different deposit schedule options.