Reconciliation of Bank Account after using Intuit Quickbooks online app

Joshua_Gartler
New Member
1 0 0

What's the easiest/most accurate way to reconcile bank and paypal accounts when exporting sales data to quickbooks? Is there another app for this or is there a report or reports that layout the data in a way that is clearly marked for every sale?

Using Shopify payments... Currently if a gross sale is say, $25.53 the funds go into an account in quickbooks called "Shopify holding" the fees are deducted ($-1.04 in this example)  and $24.49 is deposited into the bank account. How do I reconcile the deposit on my bank account of $24.49 with the sale of $25.53? Do I  print out and match each transaction in a payout with the shopify holding account and my bank account?

Paypal transactions are equally time consuming but at least all the fees are listed in the same account.

there must be an easier way. Help!

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John__S
Excursionist
78 0 4

Hi Joshua,

This is John from Data Export.

Data Export can report fields related to each Shopify Payout Deposit to your Bank account. You can report fields like transaction fee for each order, SKUs, Taxes collected, Refunds, Discounts, Shipping and many more.

You can use this report to reconcile the Bank statement.

If you have any questions, please contact me at john@dayspringlabs.com

Thanks!!

 

 

Data Export is rated by Shopify Sellers as the best and cost-effective reporting application on Shopify.
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Kevin_Schmidt
New Member
1 0 1

Did you ever figure out anything here?  I have a BUNCH of transactions that were downloaded for the entire year in the shopify holding account.  I think there might be duplicates or something missing...any ideas to best match what the holding account balance shows in qbo vs what the shopify dashboard shows?

JRWhyte
New Member
1 0 0

It seems very strange to me that Shopify and Bold Commerce put out an app that seems to me to be a non-standard application of a "undeposited funds" account and into something called "Shopify Holding" which was Automatically set up as a bank account in my system while not providing clear, concise instructions for how to deal with this account and reconcile it!  So frustrating!

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jaylor510
New Member
3 0 0

Was this every resolved?

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BJsPJs
New Member
1 0 0

OMG - this is the most confusing weird accounting set up I've ever encountered ........ please help!!!!!!

 

What the heck is the holding account for, it just makes it so complicated, difficult and creates more work - is there some easy solution to turn of the holding account or something please??? PLEASE HELP I'm going nuts!!!!

 

Thanks Belinda

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