Shopify is a popular online selling platform. However, Shopify bookkeeping presents some unique challenges. The main issue is that customers can pay in a variety of ways, each of which deposits to your bank differently and charges different fees. In this post, I'll go over the best practices for recording Shopify sales and fees in QuickBooks Online. When selling on an ecommerce platform like Shopify, you should make sure that your ecommerce bookkeeper or ecommerce accountant understands how revenue and fees are paid. It is critical that all revenue be recorded, as well as all fees. The cash deposits you receive are usually net after fees have been deducted. You may also be using Shopify's payment plan options, which require you to record the transactions in accordance with how the funds are received. An ecommerce bookkeeper should be familiar with the Shopify reports. They should be able to pull the reports and enter the necessary data without your assistance. They should also be able to advise you on the permission levels they require to work independently.

1. Bookkeeping for Shopify Sales
1. Enteringall the transactionsone byone intoShopify:
a. Shopifywouldbe integratedwithQBonlineandall the saleswouldbe enteredone
by one intoshopifyautomaticallyandtheyshall be importedtoQBonline
b. Shopifysalesinvoiceswouldbe matchedone byone withbankfeeds
c. All the salesare markedas paidwithbankfeeds.
2. Enteringviaclearingaccount:
a. All the bankfeedswouldbe enteredintoShopifyclearingaccount.
i. Bank Dr. to Shopifyclearing
b. Saleswouldbe enteredviajournal entry
i. ShopifyclearingDr.tobank account
c. Salestax to be recorded includedin thisjournal only.
d. How to make upa journal entry:
i. For makingupjournal,CSV file wouldbe exportedfromShopifyandapivot
table wouldbe created forall the sales.
ii. The journal entrywouldbe