Why there is discrepancy in tax amount by few cents between Shopify and QuickBooks?
The discrepancy in the tax amount between Shopify and QuickBooks may occur sometimes due to both Shopify and QuickBooks calculating the tax differently in an order. We have noticed that Shopify calculates tax on each item separately, whereas QuickBooks calculates the tax based on the entire order's total amount. Hence, this results in a discrepancy of 0.01, 0.02, or 0.03 for the tax amount between Shopify and QuickBooks.
So we have come up with this workaround after speaking with the bookkeepers and accountants to balance out the order by entering a rounding adjustment line in the Sales Receipt/Invoice. To create the adjustment line we will need to set up a feature for your store from the backend. If you would like to use this feature then please contact our team and provide the confirmation.