How Does the Payout Class Mapping Work Between Shopify and QuickBooks Online

Overview:

When syncing Shopify payouts to QuickBooks Online using our QuickBooks Bridge by Parex integration app, our app creates journal entries in QuickBooks to represent each payout. To give merchants more control and accurate financial categorization, our app supports Class Mapping in the journal entry.

This means you can now assign a specific class in QuickBooks to different lines of a Shopify payout, but it will be the same class in all lines. This feature is particularly useful for businesses that use class tracking in QuickBooks to manage department-level or location-based reporting.

Detailed Information:

How Payout Sync Works:

• When Shopify transfers funds to your bank account, it creates a payout that consists of various financial activities, such as order payments, Shopify fees, and adjustments.

• Our app captures these payout details and creates a journal entry in QuickBooks Online.

• Each line item in the journal entry represents a component of the payout (e.g., Shopify Payments sales, fees, adjustments).

• The total of the journal entry matches the payout amount deposited to your bank.
   

What’s New – Class Mapping for Payouts:

• Our app “QuickBooks Bridge” can now assign specific QuickBooks Classes to each line in the payout journal entry.

• For example:

  • Shopify Holding → Class: “Online Sales”

  • Bank → Class: “Online Sales”

• Shopify Fees → Class: “Online Sales”

This detailed class-based breakdown helps you:

• Analyze your financials by class in QuickBooks

• Simplify location or department-level P&L reporting
   

How to Enable This Feature:

• Class mapping is configured on our backend. Reach out to our support team with the desired class detail.

Once configured, the journal entries created for each payout will include class information on every line item automatically.