Best way to match the Shopify payouts with the Sales Receipts of each order in QBO?

Accounting & Taxes
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1

Each order in Shopify is automatically created a Sales Receipt in QBO via integration with SOS.

The current process of reconciling the Shopify and TikTok payouts to the sales receipts in QBO is by matching them to each sales receipt. However, a surge in Retail orders has made the reconciliation very difficult since you have to identify many sales receipts included in one payout.

What is the best way to match or reconcile the Shopify payouts with the Sales Receipts for each order in QBO?

We would love to explore plug-ins or any process to streamline this concern.

2

We use a service from Bookkeep.com that enters the payout into QBO and then when the payout deposits to the bank, QBO matches it to the Bookkeep entry. It’s really helped us. We don’t use QBO in quite the normal fashion though because of the sheer volume of transactions. We make summary entries only. Check Bookkeep out. I don’t work for them or get a commission. I’ve just been very impressed with their service and support.

3

Stop matching each payout directly to individual sales receipts in your bank feed. Instead, use the Undeposited Funds workflow in QuickBooks Online (QBO) to streamline the process.

Here’s how to set it up:

  1. Configure your integration to sync all sales receipts to QBO’s Undeposited Funds account (a special clearing account used to temporarily hold funds).

  2. When a payout hits your bank, use QBO’s Bank Deposit feature. From there, select all the sales receipts included in that payout, and then add a line to account for Shopify fees.

  3. The total deposit should now match exactly what was deposited into your bank account. This makes reconciliation fast and accurate.

If your order volume is growing and syncing each sale individually becomes unmanageable, consider switching to a daily summary or payout-level sync. Tools are available that automatically post Shopify payouts (net of refunds and fees) into QBO while still keeping all your order-level data safe in Shopify.

This workflow gives you a clean accounting process without the hassle of matching every transaction by hand.