Shopify Payouts include a Breakdown by Sales Day

For Shopify payouts to your bank account, a decrease in your Shopify balance occurs since your bank account is receiving money. Bookkeep posts these deposits with a breakdown by sales day, which helps reconcile your books. Each sales day impacted is shown as a separate line in the journal entry, representing the reduction in the Shopify balance. See below for an example:

In the example above, the checking account receives $769.33 after fees. The reduction of the Shopify balance is related to three days of sales. The 1/20 and 1/19 sales days show credit amounts, representing a decrease in the Shopify balance as it is being paid out to the bank account. For the 1/21 sales day (top line), the amount is shown as a debit, indicating an increase in the Shopify balance due to money being withheld, likely for refunds. The sum of the three Shopify balance lines represents the amount being paid out to the bank account before fees. This breakdown by sales day provides clarity on what the deposit represents, aiding in reconciliation.

In some instances, the deposit is reduced due to sales tax withheld and transferred to third-party marketplaces such as Facebook/Instagram. If you have any questions, please contact support@bookkeep.com.