I'm a bookkeeper and have to deal with this too. Welcome to my world.
First, let me sort out your question. You want to know if Quickbooks will recognize sales tax. I assume you mean when the transaction is entered into QB from Shopify thru the bank feed process. The answer is no. All you get is the net daily deposit, which do not include fees. I've been making monthly journal entries based on the Shopify reports. (Which are anemic at best.) Now I'm looking for an easier way. I just hooked up the Sync with Quickbooks Online,which is supposed to include sales tax, but I haven't researched it yet.
My issue is the the reports. The sales on the Finance reports don't match the 1099-k and I can't figure out why.
Mu advise is to research the Sync with Quickbooks Online in the Apps. You cam choose what dates you want to enter, so maybe just do a small chunk of tranactions to see how it goes. You can also choose what accounts to sync to (choose carefully), and if you want to import each customer (I vote no. You don't need a billion customer names clogging up your database). It also is suppose to override the bank feed and not dupe transactions, if you have bank feeks already have that set up.
Or you may just want to make an easy, peasy JE every month.
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I need to match the 1099-k to Shopfiy sales on Quickbooks. After much searching I discovered the 1099-k matches the amount of the transfers from Shopfiy to our bank, before fees were deducted. So far, so good. However, when I look at the Finance report for the month, the report indicates a lot more in sales than is on the 1099-k.
The Finance report breaks down the sales channels, ie, Amazon, Cash, COD, Paypal, and Shopify payments. The amount for Shopify Payments is a lot more than the transfers to the bank. I can't figure out what the difference is. It's way too much for fees. Where are the other sales coming from? I've spent hours on this.
For example, in June the report says Shopify sales $9,802.67. The 1099-k reports $7,473.87. A difference of $2,328.60. Why is there a difference?
I called support, they are useless. Anyone else had this problem?
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