Shopify Payouts Sync to QuickBooks Online

Overview:

Our app helps you seamlessly sync your Shopify payouts to QuickBooks. This helps you keep track of sales and fees and ensures smooth reconciliation against the deposits received in QuickBooks.

How It Works:

1. Shopify Payments and the Holding Account

• When a sale is made via Shopify Payments (Credit Card method), the funds are first deposited into a Holding Account in QuickBooks.

• This is the account you mapped under “QuickBooks Account for Payouts (Shopify Payments)” in the app settings.

• The holding account temporarily holds the funds until Shopify issues a payout.

2. Transferring Payouts to Your Bank

• When Shopify sends a payout to your bank, our app transfers the funds from the Holding Account to your Bank Account, which you mapped under “QuickBooks Account for Payment Deposit” in the app settings.

• A journal entry is created that records:

  • The transfer to your bank account

  • Any Shopify fees included in the payout

3. Easy Bank Reconciliation

• If your bank feed is connected to QuickBooks, the journal entry will match the bank deposit automatically.

• This makes reconciliation simple and saves you time.

4. Summary

• Payout Flow ON: Funds move from Shopify → Holding Account → Bank Account, with fees accounted for. QuickBooks will match your deposits automatically.

• Payout Flow OFF: Shopify Payments go directly to your bank account in QuickBooks. Manual reconciliation is required.