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Why are my payouts from Shopify Payments not lining up with the Shopify Finance Summary report?
Why are my payouts from Shopify Payments not lining up with the Shopify Finance Summary report?

Reconciling the Shopify Finance Summary Report with Xero or QuickBooks data

Rachel Jones avatar
Written by Rachel Jones
Updated over a week ago

If you are struggling to understand small differences in your Shopify data between the Shopify Finances Report and the data showing in Xero or QuickBooks that has been sent from Link My Books then it's likely one of a few things:

  1. Check to make sure you have sent all your settlements over to Xero or QuickBooks from Link My Books.

  2. Ensure there are no duplicate entries that you have accidentally sent over twice.

What if I still see differences?

If you are still seeing a small difference then it is likely because of one of the following reasons:

Purchased vs Processed dates

Shopify Finance Summary reports use the purchase date to display the monthly data, Link My Books uses the processed date.

In 99.9% of cases, transactions have identical purchase and processed dates, but in a few cases refunds can take longer to process on Shopify and thus the two dates can be different.

This means that the refunds could in theory be a "purchase date" of 31/10/2023 23:59:37 but a processed date of 01/11/2023 00:00:07.

Even though the dates are only 30 seconds apart, Shopify would class this as a refund from October and Link My Books would class it as a refund from November.

The good news is that the end result is the same, the only difference is which month the data is shown in on each platform.

Your accounting is still accurate and this is not a cause for concern.

Shopify Payments Transactions with no order information

In very rare instances Shopify provides no order information on sales via the API or in their admin.

Here is an example from inside the Shopify admin. This payout shows a transaction with no order ID:

When this happens Link My Books has no way of working out the details of the transaction and we have to instead create a fictitious order and SKU.

Shopify do not include these transactions in their Finance Summary, but they do form part of the payout. As such Link My Books has to account for them as a sale and this means that they cause a variance between Shopify's Finance Summary report and the data we send to your bookkeeping platform.

Other gateway transactions missing order details

If transactions from other payment gateways are missing their order information on Shopify then unfortunately Link My Books has no way of knowing those orders exist at all and as such they are not accounted for.

See this example of a Klarna transaction missing order details directly inside Shopify Admin:

For other payment gateways we fetch from Shopify a list of every single order for each month/week and check their gateway. We then group these orders by gateway and those form our gateway summaries.

When a transaction from an other gateway does not have an order associated to it, that transaction is not shown in the list of orders from Shopify and as such is not included in our summaries.

Unfortunately, we have no workaround for this. If you see orders like this you would need to manually account for them in Xero or QuickBooks directly and mark them as paid via the relevant gateway clearing account.

Shop Pay Instalments orders

Shop Pay Instalments orders are displayed separately on the Shopify Finance Summary report but they are still paid out with your Shopify Payments payouts:

Since these orders are paid out along with your regular orders via Shopify Payments, you need to add them together to compare against your figures showing in Xero or QuickBooks.

Markets Pro orders

Markets Pro orders are reported on the Shopify Finance Summary reports in your home currency but since they are foreign orders and often paid for in different currencies, Link My Books accounts for them in their native currency.

Markets Pro orders fall under the Flow Commerce gateway.

If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].

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