In Part 1 of this tutorial, I showed you how to record Shopify sales in QuickBooks Online using a journal entry. Now, you may be wondering what to do with those clearing accounts we set up in Part 1, and how to work with the bank feed transactions that come through. To find out, watch Part 2 of my tutorial to learn how to record Shopify sales in QuickBooks Online, and find out what to do with the clearing accounts, to ensure that you do not have duplicate income and have properly recorded the transaction fees.
In my video tutorial, I show you step-by-step :
- How to use the payments and fees from Shopify to zero out the Shopify payments clearing account in QuickBooks Online – I’ll show you the transactions that make that happen.
- How to review your Shopify payments clearing account to make sure the transactions are clearing out over time.
- How to use the Shopify PayPal clearing account to record transactions processed via PayPal as deposits in QuickBooks Online.
- Finally, I’ll show you how the Connect to PayPal app makes it easier to record the fees in QuickBooks so the PayPal clearing account can clear out properly, and will match to the net amounts found in the bank feeds.
Click on the link below to watch my video: How to record Shopify sales in QuickBooks Online – clearing accounts (Part 2)
Closing
I hope that you found this 2-part tutorial on how to record Shopify sales in QuickBooks Online helpful, and that you can now confidently record your Shopify sales with a journal entry and know just what to do with the clearing accounts in QuickBooks Online. If you have any questions on how to record Shopify sales in QuickBooks or any other topics you’d like me to cover in the future, make sure to leave me a comment. I have planned even more content on Shopify and QuickBooks Online to share with you, so watch for future related articles here!
If you would like to reach out to me, my firm VM Wasek specializes in e-commerce for Shopify, Amazon, and Walmart sellers. Click on this link to learn more about my services and see if my team is a good fit to help you elevate your e-commerce business and reach your goals.
