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sychan
July 24, 2022
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Payment Clearing account for e-shop channel

  • July 24, 2022
  • 1 reply
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Hello quickbooks team,

 

We are selling on Shopify and use OneSass to sync the data (inventory and Sales).

 

Since Shopify pay-out is usually scheduled few days after order placed, we created a Shopify pay out clearing account (under other assets) to hold these payments temporary before bank receipts, for easier checking the amount.

 

Please advise when we receive the payment from bank, is it necessary to change the payment method in each of the order, or we can simply transfer the payment lump sum (usually for a batch of orders) from this clearing account to Bank account.  And leave the payment method as it is in the original e-shop channel order.

 

Thank you for your advice.

 

Regards,

Jacky

 

Best answer by MichelleBh

Happy to help, @sychan.

 

Thanks for sharing complete information about your concern. Let me share some details about what you should do with your Shopify payments on QuickBooks Online (QBO).

 

QBO is for recording purposes only. That said, you can either change the order's payment method or transfer the payment lump sum from the clearing account to the Bank account. It depends on you which option you prefer to use.

 

Also, if you need some references in the future, you can always access our site: Help articles for QuickBooks Online.

 

Should you need further assistance in using the clearing account, please let me know. I'm always here to help.

1 reply

MichelleBh
MichelleBhAnswer
July 24, 2022

Happy to help, @sychan.

 

Thanks for sharing complete information about your concern. Let me share some details about what you should do with your Shopify payments on QuickBooks Online (QBO).

 

QBO is for recording purposes only. That said, you can either change the order's payment method or transfer the payment lump sum from the clearing account to the Bank account. It depends on you which option you prefer to use.

 

Also, if you need some references in the future, you can always access our site: Help articles for QuickBooks Online.

 

Should you need further assistance in using the clearing account, please let me know. I'm always here to help.

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