QB/Xero

Online retail

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I have a client who sells online via shopify. She has now registered for VAT and we need to get the accounting sorted.  She signed up for QB and set up the feeds from shopify for the sales receipts and from paypal for the bank receipts.   All sounds good and efficient! However, she has a massive volume of transactions and each sales receipt has to be manually matched with the bank receipt and the system doesnt guess them correctly as there are so many transactions with similar prices.

I've called QB today and they don't seem to have a solution. I wondered about bringing in daily totals but as the sales are 24 x 7 I think we would struggle to match the receipts due to timing differences.

Has anyone set the accounting up efficiently for a similar type of client.

 

Many thanks

 

Help!

 

Replies (2)

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Teignmouth
By Paul Scholes
09th Dec 2016 16:57

Hi - Your question mentions Xero as well as QB and, for what it's worth, Xero's community site is full of similar questions.

None of my clients use Shopify but, from what you say, and what I read, I'm wondering whether it might be better to skip the integration and do what my clients do selling on Not on the High Street. They download/upload a weekly CSV to a dummy NOTHS bank account and use rules to put the transactions straight to sales, charges, discounts etc.

Then money coming in from whatever source, to settle these sales, is just posted as transfers to Paypal etc, from the NOTHS bank account.

So there's no reconciliation of every sale with the cash (one client has 600 transactions a week) but they do need to reconcile the balance on the NOTHS bank account at month end with money yet to arrive.

Just a thought in case you can't use the integration.

Thanks (1)
Replying to Paul Scholes:
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By thomas
09th Dec 2016 17:08

Thanks Paul, I am tempted to agree that the duplication of sales invoices from Shopify in the accounting system just adds complication with no real value to the client who is satisfied that Shopify works.

I had thought this would be easy.....

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