Manage balance folders
About balance folders
With balance folders you can set aside money from each of your location’s daily Square sales into different folders. When you set up a folder, you have the option to automatically set aside a percentage of your sales from one or multiple locations into a single folder.
Before you begin
There is no fee for using folders and no minimum balance requirement.
You can withdraw available funds from your folders at any time.
Automated contributions are applied to gross card sales including tips and taxes paid by customers using a credit or debit card. Automated contributions do not include Square payments made with cash, cheques or gift cards.
For terms and conditions that apply to Square Balances, including folders, refer to the Payment Terms.
Set up a balance folder
Sign in to Square Dashboard and click Balance > Get started with balance folders.
Click Next and verify your mobile phone number.
Select the type of folder you want to create.
For Your contribution, enter the percentage of sales you want to automatically transfer to this folder.
Toggle on Apply to all locations if you want to contribute the same percentage for all locations.
Click Confirm.
When you are setting up a folder, you have the option to set a goal. Goals are specific dollar amounts. Once you reach your goal for that folder, automated contributions will stop. You can select Contribute without a goal if you want to keep automatically contributing beyond that target amount.
Delete a folder
Sign in to Square Dashboard and click Balance.
Click the folder you want to delete.
Click the three dots > Delete folder.
Click Transfer out to manually transfer all the funds and delete the folder.
Click Done.
Note: You can't delete a folder if you have any pending transfers. Folders must have a $0 balance before being deleted.
Edit a folder
You will only be able to edit the name of custom folders.
Log in to your Square Dashboard and click Balance.
Click the folder you want to edit.
Click the three dots.
Click Edit folder name.
Click Confirm.
Transfer funds
To transfer funds from one folder to another or from your Square Card to a folder:
- Sign in to Square Dashboard and click Balance.
- Select the Location balance with your Square Card. This is the balance the money will come out of.
- Click Transfer > Another Square balance.
- Select the folder you would like to transfer funds into.
- Follow the step-by-step instructions to complete the transfer.
- Sign in to Square Dashboard and click Balance.
- Select the folder that you want to transfer funds out of.
- Click Transfer and follow the step-by-step instructions to complete the transfer.
Transfers sent to a linked bank account generally take 1-2 business days to be deposited. You can send transfers instantly to your external bank account using a linked debit card 24 hours a day, seven days a week, for a 1.5% fee per transfer. Check with your external bank if there are any bank policies or other factors that may affect the timing of these transfers.
