Bookkeepping: starting and ending balances for each month

Accounting & Taxes
1

Hi there,

We’re a small business handling our own bookkeeping, and we’ve been trying to figure out how to calculate the starting and ending balances for each month. This, along with tracking payouts, is crucial for reconciling and ensuring everything aligns.

However, we’ve been told that Shopify doesn’t provide this information.

Has anyone else encountered this issue? If so, how did you resolve it or find a workaround?

Thanks in advance!

2

Hi Aldasms,

Shopify doesn’t show starting or ending balances, but here’s a quick fix:

  1. Export Payouts: Go to Shopify Admin > Payments > View Payouts, and download the data.
  2. Use a Spreadsheet: Add up transactions for each month to calculate balances.
  3. Check Your Bank: Match Shopify payouts with your bank deposits.
  4. Try Tools: Apps like QuickBooks or Xero can make this easier.

If this feels like too much work, I offer bookkeeping services and can handle this for you! Let me know if you’d like help.

Cheers!

1 Like