Shopify Add Ons? Shopify to Xero or QuickBooks Online

hey, it's patti scharf, CPA and co-founder of catching clouds, the leader in e-commerce accounting, and today we're going to tok about Shopify. it seems like every single day I see on some kind of forum or something where somebody is asking me: hey, what is the best integration to use with Shopify and Xero or QuickBooks Online? and I always kind of cringe because I want to make sure that everybody understands what the potential problems are with there, because there are like seven different issues and I never know which one somebody's gonna have. so let's go through this pretty quickly. if you log in as Shopify and you go to the payout screen, you'll see this total here, and this total is the amount that actually lands in your bank account. this is the amount that you want to make sure that you got, because these are the orders that were made and this is the amount that landed in your bank. people who are less familiar with accounting, they will just see these deposits in their bank account and just go sales, sale, sale, sale, sale, sales done, and that's actually not right. as you can see, it's broken out between your the gross sales and their refunds. in there. there are adjustments for the refunds, there are fees associated with this and all of that needs to be recorded separately in your accounting so that it makes sense. so then people are like, okay, then I'll just record these boom, boom, boom, boom, boom. it's also not quite that easy because if you look at any one of these payout dates- so let's say April 10th- you will look and see that there are like a gazillion orders in here and some of them were made yesterday and some are on Sunday and some were on Saturday and you really need to record those in the right period and the the gross charges that they have here. there might be shipping income that you want to keep track of. that's in addition to the cost of the product or something like that. so you, you really want to break these out into more detail. okay, but I don't care how much you love accounting, nobody wants to go in and record these one-by-one. I mean that is just too much brain damage for anybody's. let's say: you're really simple. you're just starting out. you have maybe one sale a day or a few sales a week. it's really easy to stay on top of. you would just go into your payout screen, you, you click on your specific order and in your quickbooks online file or your Xero file you can setup, let's say, for quickbooks online. you would set up a recurring sales receipt that has the basic information that you typically are selling and then you just have to update the amounts and the date. you have the the payee, go to Shopify and you're done. boom. in Xero you would set up a repeating invoice. same thing: have your customer be Shopify and just record the details of your sale the way you want it done. if you want to keep track of your inventory in there, great. if you don't, don't, it does it, it doesn't really matter. but let's say you are now up to ten transactions a day and it's kind of starting to take some time and it's annoying you and and you want to automate it some way. I think this is where most of the questions come from. how do i automate it? and I would say, at 10 orders a day or less, okay, you could probably use the Shopify integration. if you go to the App Store, you'll see something for Xero. you'll also see one for into a QuickBooks Online and you'll notike that when you go through the reviews, you get lots of ones, twos, ones, 5/5, like they either love it or hate it, and this is for both both systems. the reason is it really depends on the complexity of the store whether it's going to work for you well or not if you have a lot of payment processors. so if you're using stripe and Shopify payments and PayPal, the integration is only going to reconcile Shopify payments, the others it'll record the orders, but then you still have to reconcile the other stuff by hand. you have to record the other fees by hand, and people who don't understand that get this kind of jumbled mess and they don't know how to reconcile it and don't know what to do with it. accountants might be able to handle that more easily than, say, just somebody who's never touched accounting before, but that's something to be aware of. the other problem is if you're selling more than a thousand orders a day, zero in partikular will not pull in more than a thousand orders a day, and even if QuickBooks Online does- which I'm not convinced that it does- it will start overloading the system, because neither systems were built to be a database like that. they weren't built to hold that much data. all that information already lives in Shopify. you don't need it in your accounting system also, so you should really just be recording everything as a summary amount of information. the other problem is if you're selling like 3,000 SKUs, a stok keeping unit, so the different types of products you're selling, if you're selling like a gazillion different different types of product, then it's going to overwhelm QuickBooks Online. it's gonna overwhelm 0. so what do you do? the short answer is that you should really be recording everything as summary information. we have yet to find a tool that really handles this well, except for in unique circumstances, but we have a method that we've created that works pretty well. if you want to get more information about that, you can look down below in our links, we've included a link to our accounting for Shopify course. it's about four and a half hours long and covers the cost of goods sold in addition to post, how to post income from your Shopify store. so I hope you like this video. if you did, please hit the like button, share it with your friends, comment and subscribe if you haven't already, and we'll catch you next time. you.

Shopify + Xero | Setup Guide | Free Accounting Integration | Amaka

connect shopify with xero and automate the data entry for sales cost of goods sold and more. each day. the integration syncs an invoice to summarize the shopify transactions, giving you complete visibility of your total sales and the payments you receive from various payment methods. reconciling shopify deposits has been made easy, with payout details also synced to match the deposits. start the integration setup via appamacadio. you can create a new account, log in to an existing account or log in with xero. enter the selections accordingly for country and business type. create a new integration and, from the list, select shopify xero. authorize the requested permissions by connecting your shopify account and connect your xero account. select the file you would like to use. then save and continue. proceed with express setup for free and the integration will automatikally create default accounts and preset mapping. upgrade to a premium subscription to access the full customization options and features. the premium subscription allows you to enable multiple locations, create up to 10 integrations and access business trackers. other features include selecting an invoice format, grouping sales by product or location and applying customized mapping for accounts, payment types and tax types. we recommend proceeding with the express setup so that the integration will create all necessary accounts and apply preset mapping. here's the preset mapping for the shopify transaction times. with premium you can customize the mapping and use existing accounts in xero. you also have the option to change the invoice format to categorize and group the sales by product or by location. you can map a revenue account for each product. otherwise the integration will use the sales mapping as fullback accounts. if you wish to track sales for each location or product using tracking categories, you may create the tracking categories and tracking options in xero. activate the tracking category option and proceed with the mapping. map your payment types to the corresponding clearing accounts in xero so that when you reconcile your bank account, you can then allocate the deposits to the relevant clearing account. shopify deposits will automatikally match to bank transfer transactions and you only have to click ok to accept the matches. if you enable the synchronization of cost of goods sold module in features, you need to map the cost of goods sold account and the inventory account. the integration will then automatikally create a journal entry for the product sold. set the scheduler from the date when you would like your transactions to feed into xero. by default, the sync covers the sales from 3 am to 3 am the next day. scheduling the sync after trading hours allows the integration to capture all sales transactions from the previous trading day. backdating the sync allows the integration to start syncing the data within a few minutes. if you set the date to present, the sink will run the next day. with your free subscription level, you can backdate this thing for up to 30 days. you can upgrade to premium if you need to backdate for more than 30 days. save and continue to activate the integration. here is an example of a summarized invoice synced by the integration in express mode, summarizing all sales. here is an example of a categorized invoice synced by the integration in the advanced mode, grouping sales by product. and here's how the shopify payment fees are entered in xero, allocated to the expense account. in banking. allocating the shopify deposits is easy: click ok when a bank feed entry in xero suggests a match to a transfer transaction from shopify payments balance. make sure that your clearing accounts, such as your shopify payments balance and cash clearing accounts, maintain a zero balance to make sure all deposits are accounted for and you're all done. automate your data entry and save time with a reliable and flexible accounting integration software designed by professional accountants: amika seamless accounting integrations.

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How to Integrate Xero with Shopify 2022

hello guys, my name is Matthew and in today's video we are going to tok about Integrations of xero with Spotify. doesn't provide us with any ways of integration straight away. so we can. we have to help ourselves and create those beautiful Integrations. so, first of all, we have to log in into our xero account and you see that we pretty much set up it and uh, yeah, obviously I haven't put my um, I mean put my real card information and stuff like that, and I'm showing it on, uh, the free account. but uh, how are we going to create these Integrations with Shopify? we are going to use well-known zapier for this part or for this reason. so, first of all, we go to zapiercom and login into our account there and uh, first things first, we want to click on this plus icon: create zap. once we click there, there is the first trigger event. so we are starting with zero. we shot with xero. we have to, uh, we have to pick an event which will be like, for example, new bill, continue. choose an account. let's go with this one. we have to reconnect it because I already created uh, some more. allow access. okay, we hit: continue organization. let's go with MK tutorial status. let's go with uh, with all continue, and now we can test the trigger. it's not mandatory, but it's always nice to get all the green dots and we hit the testing uh, uh trigger again. or we can just skip: test uh, as I said before, and as you can see, we hit all all the green uh point. and right now, on the other hand, we have to pick an action. so we are going with Shopify. we hit Shopify option, create block entry, for example, or create a customer, or many more options. let's go with the first one. we hit continue. here we have to hit an account again. so, yeah, we have to reconnect it. I'm not really. yeah, I already lost it because I created couple of uh, couple of um Integrations with them already. but, uh, it's the same thing. you just hit uh, Shopify, uh account. let's go with MK tutorials, I believe. yes, continue, but I'm not really sure. okay, let's connect it with, like this, with the Gmail password. hopefully I get that right. III. this is just getting too long and too boring. we are just two steps away. we hit the continue and then we are pretty much done. so, uh, if you have any types of questions, please leave them underneath this video. thanks for watching and see you in the next one. have a great day and goodbye.

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Reconciling A2X for Shopify PayPal payouts in Xero

[Music]. in this tutorial we will demonstrate how to account for your sales paid through shopify's many other payment gateways into xero. we will be focusing on paypal. however, you can apply the same guidance for other gateways. we will demonstrate two different options. both of them use a clearing account to reconcile the sales. the first option is if you have the paypal feed activated in xero. this is suited to small to medium-sized sellers. if you have a large volume of individual sales that go through paypal each day, you will want to skip ahead to option two. so let's take a look at a live paypal feed coming into xero. you can see that each sale comes through individually and the fees paypal have charged also come through per individual sale. we want to send all our sales straight to a clearing account. we have used clear out to xero at month end. if you have multiple different payment gateways going through your shopify account, we would suggest you create a separate current asset clearing account for each gateway. so back to our paypal feed. we are going to set up a rule in xero to send all of our sales straight to the clearing account. we do this by clicking on options, then select create bank rule. we want to change this to contains, so that it picks up all the sales and removes any personal names. we can set the contact to paypal sales, fill in the description and, as this is going to the clearing account and not the sales account, we'll apply a no vat rate here. finally, we can give the rule a name. if you have any refunds coming in, you can do the exact same thing and send them to the clearing account. you can also set up a rule in xero for this too, as a spend money rule [Music]. now let's look at the fees. we need to send these to an expense account. as shown here, we can set up a rule for these two by clicking option create bank rule and follow through the same steps to send this to an expense account. so now that we've set our rules in xero app, let's head back to our a2x account and follow through in example payouts. we will use this one for 39.99. let's click review and see what will be posted to xero. we can see that the actual value of the invoice posted will be zero. it's going to post our gross sales to the sales account with the correct tax rates on. there was also some shipping income included, so that gross amount will be posted to the shipping revenue account with the correct vat rate. then we see the total of these gross sales is going to be reversed out to the clearing account, making this a nil value invoice. as with all our invoices sent from a2x to xero, this will appear in your draft invoices tab, ready for you to approve. once approved, it will post those figures to the relevant accounts. so let's take a look at our clearing account now. so, looking back at our clearing account, we can see that it clears itself out, because we posted gross sales from the feed here and gross sales from our nil value invoice here too. we also know that our fees and sales have been accounted for, so we don't need to do anything else as it all balances out. when we get a net payment received into the bank account, it just transfers to the paypal feed and that's it. job done. for the second method, we don't have the live feed enabled in xero, so first of all, we need to find the net payment we receive from paypal into our bank account and post this to the clearing account that we discussed earlier. [Music]. now let's take a look at the invoice again. we will use the same example: payout of 39.99. let's click review and see what will be posted to xero [Music]. we can see that the actual value of the invoice posted will be zero. it's going to post our gross sales to the sales account with the correct tax rates on. there was also some shipping income included, so that gross amount will be posted to the shipping revenue account with the correct vat rate. then we see the total of these gross sales is going to be reversed out to the clearing account, making this a nil value invoice. as with all our invoices sent from a2x to xero, this will appear in your draft invoices tab, ready for you to approve. once approved, it will post those figures to the relevant accounts. so let's take a look at our clearing account now so we can see that our net sales are in here from the bank payment and our gross sales are in here from our a2x invoice. the difference is the amount deducted from paypal for their fees, so we need to add in a journal entry to account for these fees and clear down the clearing account. you may want to do this once a month rather than per payout. we would also recommend that you check that this amount does correspond to your paypal fees using the reports within paypal and that it doesn't contain any pending balances being held back by paypal. if you are not sure how to do this or where to access the reports, please read through our support artikle entitled a2x for shopify and paypal: reconciling payouts and accounting for paypal fees monthly. this will guide you through the process. so let's create a journal entry in xero to account for these fees. go to accounting manual journals- new journal. we can enter our description here. we need to debit our expense account for paypal fees and credit the clearing account. then click post. now let's go back to our clearing account. we can see that it's cleared down to zero, so no further action is needed. we've reconciled this account. this concludes the tutorial on how to account for sales through shopify's other payment gateways using a clearing account. if you have any more questions, please feel free to contact our support team or browse our support artikles.

Bean Ninjas - Shopify Integration with Xero

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How To Integrate Shopify With Xero - How To Create Invoices In Xero By Shopify

hey everybody, my name is marcus and in this video i'm going to show simple way how you can integrate shopify and x0. so let's start. the first thing you want to do is just scroll down below to the description and click on the link. when you will do it, let's just go to the site you will get on this site called automated idea. ultimate idea is a really good website for connecting multiple apps together and what you want to do is go to right top corner to sign up. you want to sign into gmail, facebook or normal mail- it's really up to you- and then you're gonna see here bots, right, and when you're gonna see all bots, you just wanna simply click here, create a bot, and then you're gonna select a trigger application and this is like when something will happen on shopify, you need to also authorize those apps. it's safe. so when there is going to be a new order, we are going to go to xero and we just need to authorize sarah. also, give it a second. so when there is going to be a new order, i'll just log into x0 and i will authorize it. allow access, save. in x0. we will add or update the content. add a payment, add a bill, add a sales invoice or update an invoice or add credit note. then you can really choose, uh, how you can do it on what you can do, right, so we can make like i don't know, add or update a contact. so now we can go with the contact name and you just like add here plus first name, and now we are going to find custom last name. or we can go like this and you just fill it like this: okay, that's it, and you just need to fill everything: contact id, account number, first name, also primary person. or you can like simple: add a bill or add a payment or write a sales invoice. you need to also add a code here and you need to set up your zero. so first we are going to do and we are going to go name again, we will go to customer first name, customer last name, email address. you just added here customer email address or contact email address. then you just add here the date, the currency, currency, url, line item code, any. this is how you can set it up so you can really choose which one you actually want and what kind of what do you actually want. so you can go also here and add your new paid order, let me show you. and then you just like click save and the trigger is on new paid order. so when there is going to be a new order we are going to search a contact and based on that we can add sales invoice and yeah, and this is pretty much it how you do it now. you just like add what you need to like here in everything- contact id, contact nemo address, invoice id- you can go it as order id and if have a great day, goodbye guys, see ya.