Matching in Xero & batch payouts

Tourist
4 0 1

Hi, everyone:

 

Can anyone offer suggestions on the issue we have? We use Shopify Payments, which sends batch payouts: we have it set to daily payouts. We use Xero for accounting (and TradeGecko for inventory). This makes the process of matching (reconciling) TradeGecko invoices to Shopify payouts very tedious because we have to fish through the batch because there is not enough information and resolution in the batch for Xero to make a good guess at the match. If the Shopify order number came through with the batch, it would be much better, but since the batch has many orders, the Shopify order number is not used in the Reference field of the batch.

 

To describe it another way, those orders paid with PayPal are easy to match because the payout from PayPal is sent one per order. How can we get payouts to on each order instead of in a batch? Is there a different payment provider that might work better for us?

 

Thank you very much!

Ryan

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Shopify Partner
33 1 3

Hi Ryan,

We work on intergrating Shopify to Xero and QuickBooks through an app.

While the QuickBooks app is live and is used by many clients already, Xero app is under review and should be out later this month.

 

I have suggestions to answer to your questions and simplify your work. We can get you specific information related to a payout as well.

Each transaction of a payout and the fees for each.

 

Please email me at kumar@parextech.com and we can discuss more in email/phone.

Thank you.

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New Member
2 0 0

Hi Ryan,

 

I wrote an article about reconciliations in Xero: 

 
It is around a particular integration but it explains all required accounting ins and outs.
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Highlighted
Tourist
4 0 1

Thanks! Since my set-up involves an inventory management software in between Shopify and Xero, I developed this Google Sheets spreadsheet that splits a Shopify batch into single bank statement transactions. Instructions:

 

  1. Export from Shopify then import the CSV of the Shopify batch into Sheet 1.1.
    Screen Shot 2019-11-18 at 1.02.43 PM.png
  2. Export from Shopify then import a CSV of the Shopify orders that are in the batch. (Choose dates that encompass the orders in in the batch.)
    Screen Shot 2019-11-18 at 1.02.48 PM.png
  3. (There are some hidden worksheets that transform the data into the format Xero needs and output it into Sheet 5.)
  4. Verify that the sum in Sheet 5 matches the payout; export that worksheet.
  5. Import the CSV of Sheet 5 into Xero.
    Screen Shot 2019-11-18 at 1.13.35 PM.png
  6. Reconcile the transactions individually, and delete the single-line payout-sum.

 

If you would like to work with this file, please make a copy of it for yourself (File > Make a copy) in your own Google Drive because the link is read-only. I hope that helps someone!

 

— Ryan

 

 

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