How to match daily sales with bank deposits?

[nwillaman]

How can I reconcile daily total sales to Shopify deposits to my bank account?

[Victor]

Hi @nwillaman,

This depends on which payment provider(s) you have enabled on your store and how you are accepting payments. If you're using Shopify Payments, for example, you can track your payouts through the Shopify admin. However, these payouts won't reconcile with your total sales directly as processing fees are deducted from the order totals before being paid out to your bank account.

If you're accepting payments through other gateways or payment methods, such as PayPal, then these payouts would be handled separately from Shopify Payments or your third-party payment provider. In an example where a merchant was accepting payments through both Shopify Payments and PayPal, they'd need to refer to payouts from both providers when reconciling these payouts to their total sales (while also considering the payment processing fees paid via both gateways).

There are services that can help you manage this reconciliation, such as Quickbooks. They have an app you can use that connects your Shopify and Quickbooks accounts together for this purpose.

I hope this helps but please let me know if you have questions.

[nwillaman]

It seems silly that Shopify cannot provide reports for this, no? They have all the data...why not provide it to the customer? Are they hiding something in their fees? So a customer is required to pay for yet another app...doesn't seem right.

[Victor]

Hi @nwillaman,

If you use a third-party gateway to process payments, any processing fees are charged on the payment processor's end. They also handle payouts to your bank account. This happens outside of Shopify and as such this information cannot be found within the Shopify admin.

If you use Shopify Payments then details of your processing fees and payout amounts can be found within the admin. We have more information about getting paid with Shopify Payments on our Help Center. You can also find details of your other payments to Shopify (e.g. subscription fees, shipping label purchases, transaction fees) within the admin.