Shopify Payments Balance

evobastep
New Member
1 0 0

Hello,

 

My accountant is requesting proof of pending funds (the balance) at a specified date from my shopify store. This would seem like a pretty typical request, as shopify is acting essentially as a short term bank, holding our funds. The accountant wants to know what the amount of pending funds was at year end, so that he can report appropriately on our balance sheet.

 

Where can I determine this? Surely I can't be the only one that requires a report on this. I can get a report on just about everything else, but unable to find anywhere that I can get my balance, except the current balance as of today.

Replies 6 (6)
eCommAccountant
Explorer
72 1 11

You'll find these details in your payments report, and your Accountant should be pulling these details for you, this process should be included in their services. I do this for all of my eCommerce clients!

mikkelbjensen
New Member
1 0 0

Do you mind explaining where exactly you find this report?

Travel111
Excursionist
25 0 5

I also cannot see the right amount or a column called 'Balance'. 

I went to Analytics > Reports > Payments - and the column headers I see are:

Payment Method - Accelerated Checkout - Credit Card - Sales Channel - Transactions - Gross Payments - Refunds - Net Payments

None of these say BALANCE and none of the amounts = what shows as the Shopify Balance in Freeagent. 

 

Willwors
New Member
1 0 0

I am having exactly the same issue - I need to check what the balance due from Shopify was at year end.

Did this ever get resolved?

Travel111
Excursionist
25 0 5

Not really. 

The Shopify balance shows in the payments >payouts section but it will not match your accounting software. 

I removed Shopify as a 'bank account' from Freeagent so it was irrelevant. I just use one feed now from my bank to my accounting software to keep things simple. Then I just say the bank balance on the bank statement (nothing to do with Shopify) was X on that particular date. 

whittier_bk
New Member
1 0 0

There's no easy report, but you can find it on your own with some work. When you go to payouts, view 'Transactions' at the top, and you will see what date each transaction was paid out to you. There is lag time between transactions + payouts, so some of my transactions on 12/29 were not paid out until 1/1, etc. I export those + add up all the transactions completed at the end of December that were not paid out by 12/31. That total should be included in your assets for the year.