By the Books: Step-by-step guide to Shopify and QuickBooks bookkeeping with A2X

Shopify bookkeeping can be complicated. Between payment gateways, different transaction types, COGS, and more, it can be tricky to quickly and confidently close the books each month.
Fortunately, Brittany Brown from LedgerGurus is here to help!
Watch this webinar recording to learn:
- What makes Shopify bookkeeping complicated
- What you need to complete monthly Shopify bookkeeping
- How to complete monthly Shopify bookkeeping in QuickBooks Online
Download the Shopify QBO Bookkeeping Checklist handout mentioned in the webinar:
go.a2xaccounting.com/shopify-...
Additional resources:
How to integrate Shopify and QuickBooks Online with A2X: • How to integrate Shopi...
Review the steps in this video in A2X's guide: www.a2xaccounting.com/blog/sh...
Brittany Brown is speaking at Camp A2X 2024, where ecommerce accounting experts come together to learn, connect, and have fun: a2xaccounting.com/camp-a2x-2024
Get in touch:
- Get in touch with LedgerGurus - ledgergurus.com/
- Get in touch with A2X - [e-mail]
00:00 By the Books: A step-by-step guide to Shopify and QuickBooks
00:19 Meet Brittany Brown, Founder & CEO of LedgerGurus
02:35 Agenda
03:48 Why is accurate Shopify bookkeeping important?
07:34 What makes Shopify bookkeeping complicated?
12:04 How A2X makes Shopify bookkeeping easy & accurate
18:06 What you need for Shopify bookkeeping
22:27 Step-by-step guide to Shopify bookkeeping
55:36 Get in touch with LedgerGurus
56:03 Q&A
The information provided in our webinars and resources is meant to be general in nature. Please consult a certified expert to get advice for your specific business requirements.

[@user-hb2iu1ii2p]

Thanks for the reminder to be patient, paypal is crazy.

[@adventureish]

Brittany/Amy - we have Sales Tax nexus and remit sales tax in 9 different states monthly. Can/does A2X split up sales taxes by jurisdictions and/or states?

[@A2Xaccounting]

Hi there! Thanks for your question. Canadian and US A2X users can use a 'No Tax' or 'Tax Exempt' sales tax rate in A2X and map tax transaction lines to a Sales Tax Liability account. A2X tells you exactly how much sales tax was collected per bank deposit.
A2X will show the total sales tax for each settlement (sales, refunds, fees, etc.) in the Sales Tax Liability account it is mapped to.
In order to break down the sales tax collected for each state, you will need to utilize the sales channel (e.g., Shopify) tax report or a tax app (such as Taxjar and Avalara).

[@adventureish]

@@A2Xaccounting ok I think I get what you're saying: so A2X will bring Sales Tax into just ONE Sales Tax Liability GL account in our QBO financials. From there it's up to us individually to remit sales tax to all states using reports from Shopify to know what those splits are. Then when reconciling those payments in QBO, just match those individual payments to that one Sales Tax Liability GL again in QBO. I think that's what you're saying? If so, sounds good. Thanks!

[@A2Xaccounting]

@@adventureish Yes, that's correct! A2X users will need to individually remit sales tax to all states using the Shopify tax reports, and A2X will have the total sales tax collected on the Balance Sheet. A2X users can select their preferred Sales Tax Liability GL in the Accounts and Taxes mapping page. (Note: Please speak to a tax professional for specific tax advice.) Thank you!