Shopify Balance

Accounting & Taxes

Topic summary

A user requested help understanding their Shopify Balance account statement, which showed a current balance of $3.05.

Initial Balance Breakdown:

  • Starting balance: $59.82
  • Deposits and credits: $78.23
  • Withdrawals and debits: $135.00
  • Resulting current balance: $3.05

Transaction Details (Second Screenshot):

  1. Shopify Payments Payout: $68.08 deposited from store sales
  2. ACH Transfer In: $10.00 added from Union Bank & Trust Company
  3. APY Interest: $0.15 earned in April 2025
  4. ACH Transfer Out: $135.00 withdrawn to Union Bank & Trust Company

The helper explained the formula: Starting Balance + Deposits - Withdrawals = Current Balance. The account received payments from Shopify sales and a personal bank transfer, earned minimal interest, then had most funds transferred back to the user’s personal bank account, leaving the small remaining balance.

The question was fully resolved with the user expressing gratitude.

Summarized with AI on October 27. AI used: claude-sonnet-4-5-20250929.
1

Can someone please explain this balances please

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2

Here’s a quick breakdown of those balances:

  • Your starting balance was $59.82 , that’s what you had before any new activity.

  • Then you had deposits and credits totaling $78.23, money added to your account.

  • You also had withdrawals and debits of $135, money taken out or spent.

  • So when you add the deposits to your starting balance and subtract the withdrawals, your current account balance comes to $3.05.

It’s basically:
Starting Balance + Deposits - Withdrawals = Current Balance

Hope that clears it up

1 Like
3

sorry i mis look there’s a 2nd page.. can you please explain also..

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4

No worries, here’s a simple breakdown of that second page

  1. Shopify Payments Payout

Amount: $68.08
Balance: $127.90
This means you got paid $68.08 from your Shopify store — it’s the money from customer orders that got deposited into your payout account, bringing your balance up to $127.90.

  1. ACG transfer from Union Bank & Trust Company

Amount: $10.00
Balance: $137.90
You manually transferred $10.00 from your personal bank account (ending in 7280) into this account. Now your balance increased to $137.90.

  1. APY Earned in April 2025

Amount: $0.15
Balance: $138.05
This is interest earned on your account for the month of April. It’s small (0.15), but it added to your balance, bringing it up to $138.05.

  1. ACH Transfer to Union Bank & Trust Company

Amount: -$135.00
Balance: $3.05
You sent $135.00 out from this account back into your personal bank account (ending in 7280), so your remaining balance is now $3.05.

Sp now the $56.77 “Total Amount” probably reflects the net increase/decrease of the account within that period (after all deposits and withdrawals were considered).

1 Like
5

Thank you!

6

No problem friend, you can reach out anytime !!