Why you should be using Clearing Accounts for your Shopify bookkeeping

In this video, I'll share with you why you need to be using clearing accounts for your Shopify bookkeeping.
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Chapters
0:00 Intro
0:24 What are e-commerce clearing accounts?
0:57 E-commerce timing differences
1:26 Chart of accounts set up
2:06 A2X setup
2:49 Clearing account workflow
3:49 Clearing account example
4:41 The reality of hundreds of transactions
5:10 Categorizing deposits received from payment processors
5:52 QBO bank feeds and deposits from payment processors
7:07 Reconciling clearing accounts
7:59 Download my free Shopify Bookkeeping Blueprint
Our e-commerce accounting videos have moved to a brand new channel. Visit us at the Mavency channel for new content and be sure to hit that subscribe button / @wearemavency
Ready to take on your Shopify financials like a pro while helping your e-commerce business grow? Download your free Shopify Bookkeeping Blueprint where I share the step-by-step processes you need to succeed: bit.ly/SHBKBlueprint
Are you ready to work with a trusted and reliable Shopify bookkeeping pro? Learn more about my bookkeeping, coaching, and integration services and pricing: mavency.com/request-info_ecom... notified about all my latest content, webinars, courses, and more: mavency.ck.page/content
Join my Facebook community of like-minded eCom sellers and bookkeepers and we'll be happy to help: bit.ly/2Am1lLQ
**Special discount: Get 50% off the monthly price of QuickBooks Online for the first 3 months with this link: quickbooks.grsm.io/VeronicaWasek
Save time and effort every month by automating your Shopify and QuickBooks integration with A2X:
www.a2xaccounting.com/signup **Get 20% off your first 6 months with A2X by using this discount code**: VM_20_6MON_2021
Follow us on Instagram @WeAreMavency for e-commerce bookkeeping tips, inspiration, and some behind-the-scenes looks at what we're up to: / wearemavency
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e-commerce accounting: bit.ly/36SDaRV
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