How does payment reconciliation work with online purchases?

Godshaw · ‎08-06-2021

Hello, new to Shopify 🙂

I wondered if anyone knows how and when payment lands in your account from an online purchase, and if it's the full amount for the item or if it's minus Shopify's transaction fees?

If I sell a bracelet for £55, does £55 go into my account and I pay Shopify the transaction fee in my next billing cycle? Or does it happen at the point of purchase, they take their transaction fee and £53.59 goes into my account?

Just trying to work out how to put the purchase through the till system in store, as our physical shop and online shop are not yet integrated.

Thank you so much to anyone who can help!

Best wishes, Georgina

Helen · ‎08-06-2021

Hi, @Godshaw. Welcome to the Community! Which payment gateway are you using?

If you’re using a third party payment gateway, then please reach out to the provider directly to discuss how their payouts operate.

However if it’s Shopify Payments that you are using to process payments on your store, then you can schedule your payouts to be as frequent as you’d like, to go into the bank account that you connect during the setup process. Requirements for the type of bank account you can use are found here.

Once a customer pays for their order, the amount that will be paid out to you will have the credit card fees deducted from it. The details and amounts of each payout can be found by going to ‘Settings > Payments > View Payouts’ in your admin.

Does that help?

To learn more visit the Shopify Help Center or the Community Blog.

View solution in original post

Helen · ‎08-06-2021

Hi, @Godshaw. Welcome to the Community! Which payment gateway are you using?

If you’re using a third party payment gateway, then please reach out to the provider directly to discuss how their payouts operate.

However if it’s Shopify Payments that you are using to process payments on your store, then you can schedule your payouts to be as frequent as you’d like, to go into the bank account that you connect during the setup process. Requirements for the type of bank account you can use are found here.

Once a customer pays for their order, the amount that will be paid out to you will have the credit card fees deducted from it. The details and amounts of each payout can be found by going to ‘Settings > Payments > View Payouts’ in your admin.

Does that help?

To learn more visit the Shopify Help Center or the Community Blog.

Godshaw · ‎08-10-2021

Hi Helen,

Thank you so much for you help! We are sing Shopify payments, your information has clarified my confusion and given me the answer I needed, thank you!

Best wishes

Godshaws

Helen · ‎08-11-2021

You're welcome, @Godshaw! Thanks for letting me know your questions were answered. Please don’t hesitate to reach out again if I can help with anything else.

To learn more visit the Shopify Help Center or the Community Blog.

Britt2025 · ‎10-23-2024

Hello Helen, Is there a report within Shopify or using a third-party app that allows a one-to-one comparison of each transaction between a Shopify report and our ERP's 'Shopify Clearing' GL account. Our GL account shows every payment, deposit and refund. Thousands for a month whereas the PayOut account doesn't show this same level of detail. For instance, it doesn't show refunds.