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sychan
Level 4

Shopify payment integration

We use One Saas App as the integration bridge between Shopify & Quickbooks,

 

We have the following settings:

1. All Shopify sales goes to 1 generic sales account in Quickbooks

2. Shopify charges goes to an expense account in Quickbooks.

 

For Payments (credit cards, etc) received from Shopify, we are unsure to use the "Bank" account or the "Undeposited Funds" account.  Also Is it better to create a separate bank account for PayPal payments?

 

Thank you very much for the advice.

 

Regards,

SY Chan 

2 Comments 2
Fiat Lux - ASIA
Level 15

Shopify payment integration

Explore this app to get an idea how to reconcile your payment data from Shopify and Paypal

https:// synder.grsm.io/quickbooks

 

AileneA
QuickBooks Team

Shopify payment integration

Hello, sychan.  

 

I'm here to guide you on how to enter the payments from Shopify in QuickBooks Online. 

 

To record a credit card transactions from a third-party provider. Here's how: 

 

Record the payment. 

  1. Select + New.
  2. Select Receive Payment.
  3. Fill out the necessary fields.
  4. Choose Undeposited funds as the deposit account.
  5. Select Save and close. 

 

Record the deposit:  ​​​​​​​

  1. Select + New.
  2. Select Bank Deposit.
  3. Add a check to the box before the payment that you want to deposit.
  4. Enter the fee charged to you by the credit card company as a negative amount in the Add funds to this deposit section.
  5. Select the Expense account you use to track these fees.
  6. Verify that the deposit amount is correct.
  7. Select Save and close. 

This method helps to ensure that the payments from Shopify are accurately recorded. For an overview of this process, I suggest visiting this article: Can QuickBooks Online directly integrate with third-party merchant services? 

 

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

 

In case you need further assistance, please let me know so I can help you. Have a great day, and stay safe!

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