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Finally, math-free reconciliation with eCC Cloud




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    We use Shopify Payments as our payments gateway. Shopify Payments batches transactions and pays out the total amount, net of fees, usually daily. (These payouts can be found on the Home Page of the Shopify Admin by clicking the button, View All Payouts.) This produces a page with the Payout date, Status (Paid of Pending) Charges, Refunds, Adjustments, Fees, and Total (the net amount of the payout deposited in our bank account). In the payout report you can find the Transaction Type, Transaction Date, Order number, Amount, Fee, and Net for each transaction in the payout.

    In order to correctly record the payout in Quick Books Online (QBO), we must daily in QBO create a bill, pay the bill, and transfer the amount of the Shopify Payments payout to our bank account. This permits us Match each downloaded payout transactions and reconcile out back statement each month.

    This new payment processor integration does net yet work for me, and I can not fathom how the reconciliation of our QBO bank register and our bank account statement can be math free.

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    Ashish , Dharmendra has explained the new system to me and I now understand how fees are handled and the net payouts are downloaded to our Wells Fargo bank account.

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    This new feature is not yet complete.

    After downloading a batched Shopify Payments payout that contains multiple transactions, we must Match these transactions to various unmatched Sales Receipts. In QBO we go to Transactions->Banking and click on the line with the Shopify Payments transfer. This opens up a line with a radio button Match. Clicking on this radio button opens up a page with a list of all unmatched Sales Receipts and Invoices. (We are only interested in matching sales receipts.)

    The open invoices have the invoice number in the reference column, but there is nothing in this column for the sales receipts. When there are many sales receipts, it is difficult to pick out and mark the sales receipts in the batch.

    I have requested that eCC Cloud sync the order number to the Reference Number field in each sales receipt. This will put the sales receipt number on this page where we select the sales receipts in the batch.
    I have tested this by manually adding the sales receipt number in the Reference no. field of a sales receipt and does then appear on this matching page.

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