Hi again,
Relating to my previous post about shopify payouts, I created a sales invoice like suggested.
My question this time, if you don’t mind, is what do I do about shopify fees that they charge per transaction?
For example, my total sales for the day that I issued the invoice was £264.06 and Shopify charged me £7.29 in fees. Thus, the payout that I received in my bank account was only £256.77
If I put the sales invoice as the larger amount of £264.06 then my income is overstated which isn’t good. I can create an expense to shopify for £7.29, but then I can’t reconcile that payment because it wasn’t ever made, it was simply deducted from my payout.
If I put the invoice amount as the larger amount of £264.06 and then put the payment that I actually received as £256.77,
then my software says that Shopify owe me £7.29.
If I put the sales invoice as £256.77 then it doesn’t accurately represent the amount of sales I generated and doesn’t show fees Shopify charge.
What is the best way to deal with this?
Many thanks
