Shopify Bookkeeping: Payout Mapping, Fees, Refunds & Reserves
Map Shopify payouts the right way: gross sales, fees, refunds/chargebacks, reserves and releases → net deposit. Reconcile to bank, stabilize margins, CPA-reviewed month-end.
If Shopify deposits don’t reconcile, your margins aren’t real. We implement a Shopify bookkeeping flow that converts every settlement into gross sales – platform fees – payment gateway fees – refunds/chargebacks ± reserves/releases = net deposit, and tie this to your bank statement each month. We normalize SKUs, map discounts/taxes/shipping, and decide item-level or periodic COGS so inventory matches sales timing. Chargebacks and refunds hit the right contra accounts; reserves are tracked separately and released properly; Undeposited Funds is cleared to zero. Each month we reconcile bank/credit/loan accounts, validate fees against statements, and deliver a CPA-reviewed reporting pack with variance notes and a period-lock recommendation, so you can trust channel margins and scale with confidence.
The Shopify Payout Mapping You Actually Need
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Gross sales (items × qty) and discounts mapped to Revenue/Discounts - Taxes mapped to Sales Tax Payable (direct cart) or facilitator logic (if app-based)
- Shipping income/expense mapped consistently
- Platform and gateway fees (Shopify Payments, Stripe) mapped to fee accounts
- Refunds and chargebacks mapped to contra income/expense
- Reserves and reserve releases tracked on separate balance-sheet accounts
- Net deposit reconciled to bank (one payout = one bank line)
Inventory & COGS Timing
- Item-level COGS (perpetual) or periodic COGS (from IMS export)
- Landed cost options (freight/duty capitalization)
- Month-end valuation tie: Inventory Asset ↔ IMS/Report; COGS ↔ sales period
Sales-Tax Reality for Shopify
- Direct cart: you collect/remit where you have nexus; liability must reconcile to returns
- Facilitator apps/marketplaces: don’t double-book tax the platform remits
Monthly Close Checklist (Shopify Channel)
- Import settlements; confirm mapping table
- Reconcile payouts to bank; UF = 0
- Validate fee totals vs statements
- Post inventory/COGS timing entries
- CPA review; variance note; period-lock guidance
Reports You’ll Trust
- Channel P&L (Shopify) with gross→net bridge
- Fees/chargebacks analysis and trend
- Inventory valuation and COGS trend by month
Frequently Asked Questions
We separate platform vs gateway fees and validate totals against statements each close.
Either item mapping isn’t consistent or periodic COGS wasn’t aligned to sales timing. We standardize mapping and align timing entries monthly.
We post reserves to a balance-sheet account and releases when the platform pays them out, both tied to payout IDs and bank lines.
Yes, FX remeasured at period-end with CPA-reviewed adjustments; payouts reconciled at bank-settlement currency.