I need to match the 1099-k to Shopfiy sales on Quickbooks. After much searching I discovered the 1099-k matches the amount of the transfers from Shopfiy to our bank, before fees were deducted. So far, so good. However, when I look at the Finance report for the month, the report indicates a lot more in sales than is on the 1099-k.
The Finance report breaks down the sales channels, ie, Amazon, Cash, COD, Paypal, and Shopify payments. The amount for Shopify Payments is a lot more than the transfers to the bank. I can't figure out what the difference is. It's way too much for fees. Where are the other sales coming from? I've spent hours on this.
For example, in June the report says Shopify sales $9,802.67. The 1099-k reports $7,473.87. A difference of $2,328.60. Why is there a difference?
I called support, they are useless. Anyone else had this problem?