General Ledger codes for products and reconciliation

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Tourist
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Hi - we've recently set up a store and thus far are really appreciating the speed and simplicity of Shopify.

One challenge I'm trying to resolve however is reconciliation for our accounting team. In our accounting system (which lacks an API or an easy way to integrate) our products are coded against different projects so their sale needs to be recorded against the appropriate income stream. For example products we publish ourselves are coded 4200 while other publishers books are coded 4220m, additionally membership and donations are coded against unique project codes.

As a part of monthly reconciliation we need to:

  • Match daily transactions with Paypal Settlement totals and bank deposits 
  • Code shipping, GST (sales tax) and GST exclusive amount totals to appropriate revenue streams
  • Ensure total income accounted for from Shopify matches deposits from Paypal

We are on the Professional/monthly plan and I am aware the unlimited plan offers advanced reporting but cannot see if it would help us track GL codes at a product and order level. I've also tried tagging products and had a look at apps to add GL codes as metafields and other order exporting apps but this far haven't found anything straight forward.

Down the track we may integrate with an inventory management platform and accounting platform like Xero to act as an intermediary but I'm looking for a solution in the shortterm. Does anyone have any experience or advice in this area they would be happy to share?

TGB

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