How do you match imported shopify sales to payouts received into the bank? I am trying to reconcile the bank account.

@weslaughton 

As another option, consider having a 3rd party app to help. The app summarizes all your Shopify orders and separates the fees. You get a simple journal entry with all the fees in the appropriate accounts in QuickBooks and the app checks your bank account to make sure the deposits match and reconcile.

Great thansk for your suggestion. Can you please recommend a third party app that does this?

@weslaughton 

Explore these apps

https://synder.grsm.io/quickbooks

https://bookkeep.grsm.io/quickbooks

https://www.a2xaccounting.com/shopify

for A2X, use the promo code FL_10_6MON_2021 to get 10%

Thanks 

Thanks for following up with me. I am still having trouble. I am just trying to match all Shopify sales with payouts in the bank. This is all new for me and I got disconnected from customer care. Is there anyway I can get a bookkeeper to help. Thanks, Wes 

Hi there, @wes.

To resolve this, I'd recommend getting in touch with our Customer Support Team again. This way, they can pull up your account securely and help check the cause of the issue.

Check this article on how to check when QuickBooks deposits customer payments into your bank account: Find out when QuickBooks Payments deposits customer payments.

You can also refer to this article how QuickBooks Payments deposits work in QBO and different information about QuickBooks Payments: Common questions about payments deposits in QuickBooks Online.

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

Great thanks

Hi, 

I think I set up something incorrectly because our actual bank balance is like 4 times less than what QBO is showing as the 'bank balance'. I wonder if it has to do with allocation of transactions/accounts?

So, as you know, individual orders filter in from Shopify (website) into QBO with no actual monies coming in, but then there is also the Shopify 'transfer' of those actual funds (minus their fees) into QBO. Could it be as the individual orders filter in,those items for sale are set as an 'income' account and then as the Shopify (and probably Paypal too) 'Transfer' shows in the Banking Review window, where I've set a Rule to categorize that shopify transfer under an income account, that I'M GETTING A COUPLE ENTRY OF THAT INCOME??? 

Because Shopify is transfering actual funds in, I thought that wouldn't just be set as a transfer, but it's 'Income' coming into our account, but something is way off because QBO shows like $250K as bank balance and it's actually only like $28K! 

We appreciate you for bringing your banking experience to our attention, diana. I'm here to help rule this out.

Your QuickBooks Online balance and real-life bank balance are off due to the following factors:

• Outstanding transactions
• New transactions for a connected account
• Duplicate transactions
• Edited or deleted transactions
• Credit card (liability) account

In your case, transactions are duplicated reason for the bank balance to show four times less than what your QBO bank balance is showing. 

If you connected your Shopify with QuickBooks, I recommend excluding the downloaded data on your QBO account to prevent double income from displaying. Additionally, since you added a rule to automatically add and categorize transactions, you'll have to Undo first and then Exclude them. I'll show you how:

To undo:

1. Open the Banking menu.
2. Select the Banking tab.
3. Go to the Categorized area, and pick the transactions you want to remove.
4. Once done, click on Undo. 

To exclude:

1. Open the Banking menu.
2. Select the Banking tab.
3. Go to the For review area and pick the transactions to exclude.
4. Once done, click on Exclude.

For more details about how to manage your data, see this: Categorize and match online bank transactions in QuickBooks Online.

If you're all good and you want to keep your accounts in order, read this for some useful details: Reconcile an account in QuickBooks Online.

Please get back to me if you need help with anything else with banking or QuickBooks. I'd be glad to help. Stay safe.