Which portion of payout is subject to sales tax?

gdfood
New Member
2 0 0

Hi, in order to balance our books we need to find out which portion of each payout in our bank account constitutes HST (canadian sales tax).   Every company that uses accrual account must need this so it has to exist, as a deposit into the cash triggers a debit to the cash account and a credit to liability account called HST and an debit to the expense account called fees. 

We have contacted Shopify support, but they keep pointing us to the Finance reports, which is not what we need.  There simply *has* to be a simple way to balance the books per payout given that there must be thousands of companies in the same boat as us.  

Is there a level of support at shopify that specializes in accounting issue?

Thanks,

 

Peter (Ottawa)

Replies 2 (2)
HelloDay
New Member
6 0 0

Hi Peter

Did you ever manage to find a solution for this? We need to know the same - what portion of a payout is tax (VAT in the UK).

Thanks

Kirsten

Shirley-PWS
New Member
2 0 0

I'm a recent user of Shopify as an accountant and I, too, am frustrated that the Payout reports don't separate out the sales tax.  I have to create a different sales report in Analytics which won't allow searching by Invoice range, only dates.  

The payouts often share the same cutoff dates, so that's a problem.

I don't want to have to go through this anymore -- so labor intensive.

 

Hoping someone has a solution to this.