Reconciling Shopify

Shopify is a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. Shopify offers a complete commerce platform that lets users start, grow, and manage a business.

At a high level, it’s the process of matching customer orders and refunds to a payment, and ultimately to a payout in the bank account. This ensures that the data used to book key financial metrics can be accurately traced to a cash conclusion.

Use Blue Onion with Shopify to eliminate the manual and repetitive process of matching each order to a payout and booking payment processor fees.

• Limited visibility into cash-in-transit and how an order translates to a cash payout.
• Significant accounting complexity with foreign currency transactions, gift cards, return services, and loyalty programs that can be difficult to trace and reconcile.  
• Multiple payment processors can exponentially increase the time to manually reconcile transactions and investigate discrepancies.