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Accounting for Shopify App - A2X
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- Опубликовано: 4 авг 2024
- For YEARS we've been waiting for an Accounting for Shopify app to come along, and finally, one of our favorite tools, A2X, has risen to the challenge with their new app, A2X for Shopify.If you're a Shopify seller, you probably know how difficult Shopify bookkeeping can be when accounting for your Shopify store. You have multiple payment processors, and the money that lands in your bank is impossible to match up to the dozens (or even thousands) of transactions that are swimming in your QuickBooks Online or Xero accounting file. This video talks about the new A2X for Shopify app and how it helps get you streamline your bookkeeping.
📊📞For help with your ecommerce accounting needs, book a free consultation with sales here: acuity.co/ecommerce-accountin...
🕰️Timestamps:
0:00: Intro
1:09: Why Shopify
6:09: How it Works
8:26: Outro
💡✔️Helpful Resources
A2X Amazon Seller Help for Bookkeeping
• A2X Amazon Seller Help...
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Thanks for watching! Have you tried out the new A2X for Shopify app yet? What do you think about it?
Have you been able to add this information to the class yet? Also, will those who have purchased your course get the update?
Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!
Glad you enjoyed it!
Tons of valuable information, thank you so much. It helped me a lot.
Glad to hear it!
Thanks for the great information Patty!! Love your videos!!
Thank you!
Hi Patti! Thank you for the great information. I'm excited to watch your other videos! :-)
Yay! Thank you!
(Catching clouds..) means the next level of accounting understanding.
👍
Thanks
Hi Patti, thank you for all the great information you have posted over the years! These automatic Shopify to Xero apps have really improved in the last couple of years. It seems they have the Shopify payments worked out except for one thing. They use a Shopify holding account in Xero and will then batch transfer those "funds" over to your actual receiving bank in Xero when Shopify sends payment over. So now your holding account shows a zero balance, but the true bank account in Xero has a double entry and I can't reconcile it. It shows the actual transfer from Shopify AND the one from the holding account. How do you reconcile this?
In the case of A2X and Xero (which we use), they don't use a holding account... they use a sales invoice. So the income is reported in the right period whether or not funds have been received.
Would this work for the Shopify pos as well? That would add more payment methods like store credit, cash and gift cards. Sometimes all in the same order.
I would give A2X a shout. Let them know what you're trying to do, and they can guide you.
Really enjoy your videos! Here is a question and like tonget your thoughts. A2X requires a one-to-one match between the SKUs in Shopify and Xero. So we have created distinct SKUs in both Shopify and Xero and A2X pulls this info from Shopify into Xero no problem. We have 482 individual sku's and it works perfectly.
Here is an example of the typical problem were having. When I sell springs on Shopify I have a LHW spring, a RHW spring and a PAIR of springs. When a PAIR is sold how can I set this this up so a LHW and RHW spring sku's are shown under a PAIR so inventory is calculated properly. I have tried bundling this with an app on shopify and when A2X pulls this info for a PAIR into Xero the 2 sku's show as NO SKU.
We want to track inventory on Xero. Talking with tech support I am told that to work properly bundling inventory needs to be tracked in Shopify and not on Xero. I am now beginning to think there is no solution for this. What do you figure? Thanks for your help
I do have one workaround for you. You could try setting up a unique SKU in Xero for the PAIR as a "service" item (so it's not tracked). This would be a zero cost item. The same SKU should be used for the listing in Shopify. Then, you can manually adjust the quantities in Xero at month end for the tracked inventory SKUs.
It's still manual and not ideal, but it's better than nothing....
Can't wait to meet you at #SNH19! I'll be at your session. I'm super excited about the new A2X to Shopify app. I'll definitely check it out.
See you there!
Hi Patti, can a2x be used with Wave Accounting? Also Does your course Accounting for Shopify also work with Wave Accounting?
No and no, BUT... it does talk about how to account for Shopify without A2X (it's just harder because it's manual), so it gives you an understanding of how to do it from a fundamental level. I hope that helps!
Hi Patti. We are trying to integrate Shopify with a QBO database that uses classes and multiple revenue accounts. Does A2X support this functionality? If so, what fields in Shopify can be used for mapping ? Thank you
Yep.
support.a2xaccounting.com/en/articles/3044953-how-do-i-get-started-with-a2x-for-shopify-step-4-set-up-account-and-tax-mapping
Thank you for the video
You're welcome
Great video. Is A2X compatible with cloud inventory systems?
Not that I'm aware of, unfortunately. :(
@@AcuityEcommerce So if you had to pick between the benefits of A2X and the benefits of cloud inventory, which one would you choose? Or is there a way to have the best of both worlds?
I think it depends on what your biggest pain point is and how much time you have to dedicate to fixing the problem, because each tool solves different problems.
For me, A2X is a no-brainer because it ALWAYS solves the problem of income posting and reconciliation. Cloud inventory takes research, elbow grease, and often, specialized expertise & outside consulting. It's not set and forget by any means. But it's also usually an online seller's biggest problem, so if you can get it right, it's a big win.
Hi, does A2X bring in ALL payments or only Shopify Payments? What if I accept Stripe, or PayPal or Apple Pay or any number of other payment processing methods. Does A2X bring in all those or ONLY Shopify Payments? thanks
ALL payments, but it only automatically reconciles Shopify Payments because it only has access to the merchant fees for Shopify Payments. For the other payments, they'll identify them as Stripe or PayPal or Apple Pay so you can segregate them, post the related fees, and reconcile them yourself.
@@AcuityEcommerce Since PayPal will be the vast majority of payments, any way to do a video on using A2X and the steps that one would need to do to reconcile PP when using A2x? It seems like A2X is being misleading making it seem like its a breeze using it with Shopify but I still have to do a lot of work on all the other payment methods.
My biggest concern is sales tax all across 50 states due to Wayfair ruling. Can the app separate the batched sales per state per county per city? And will the app record the Shopify / PayPal merchant fees? I plan to sell high volume products in thousands of transactions. Reconciling the sales tax, revenue minus merchant expenses in one easy automation is my biggest problem to solve
We don't make our general ledger (i.e., Xero) keep track of all the sales tax details. You don't need that level of detail in the accounting system... you need it in your shopping cart (i.e., Shopify) and sales tax systems (i.e., TaxJar, Taxify, Avalara). We use Taxify for sales tax & make sure the detailed information that lands there matches what we've reported in the accounting system in total, and we're good to go. As far as merchant fees, yes, the app records Shopify Payments fees, but no, it doesn't record the fees for the other payment processors. You'll need to reconcile that separately, but it's not difficult to do in bulk.
Is taxify and ax2 both needed for shopify. One to do acct one tk set tax and remit money
Very informative
Glad you liked it
Reconciling the shopify, it is really truly accurate, it goes pear shape when there are dispute and credit notes or imbalance. Also this is the sales side. The purchase side is a nightmare, extracting data from your supplier and matching that with credit card payments. Then the next stage is matching if you can. Next is matching the payment going out from Shopify to Paypal or stripes, then that needs to reconcile back to the bank. You will see a big delay from Shopify when paying out to stripe or Paypal. Basically, relying on those apps and not really truly understand the double entry is dangerous, as you Shopify can delay payments ie cashflow, and you need to get the whole picture. To be honest, once you setup all these via excel, it only takes 6 hours with accuracy.
I'm not really sure I get what you're saying. You would use this app with QuickBooks Online or Xero which are double-entry accounting systems. Yes, you will still need to reconcile any additional merchant accounts, but this system makes that easier to do and with less clutter and in much less time than 6 hours.
A2x still work in shopify?
Yes. Better than ever. I'll be rebuilding the training in our Accounting for Shopify course in July to show everyone. :)
Catching Clouds Academy so excited to know it maam thnks