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Download and Post Shopify Deposits in Webgility Online

This article introduces a new Webgility Online feature that allows users to download Shopify deposits and post them as transfers in QuickBooks Online. Previously, this process required manual transfers from the Shopify clearing account to the bank account to match incoming deposits. With this enhancement, users can now automatically download, review, and post deposits, making reconciliation faster, ensuring accurate transaction mapping, and improving financial reporting.

Overview

When Shopify processes orders, refunds, and fees, the associated payments are initially posted to an account in QuickBooks, which you can configure in Webgility. While you can choose any account, it is ideal to use a clearing account to keep transactions organized and simplify reconciliation.

However, these amounts only exist as pending balances in QuickBooks until Shopify actually deposits the funds into your bank. If you don’t record the deposit as a Transfer from the clearing account to your bank account, your bank account balance will not reflect the real funds received, making reconciliation difficult and causing your books to be incomplete.

With this feature, once the actual payout deposit is received from Shopify, Webgility Online allows you to post it as a Transfer from the clearing account to your bank account. This creates a transaction that matches the exact bank deposit, making reconciliation in QuickBooks fast and easy, while keeping orders, refunds, and fees clearly separated.

What’s New?

Once you enable the settings to post Shopify Deposits, you can:

  • Download Shopify deposits as they are received
  • Present them in a new Deposits tab under Sales (next to Orders and Refunds)
  • Allow you to review and manually/automatically post each deposit. 

Note: This feature is available only for Shopify and QuickBooks Online users who have set up a Transactional accounting method.

Setting up the feature:

  • In Webgility Online navigate to Sync Settings then go to “Deposits” tab.
    • Under Settings for Posting Payouts, enable the toggle button for “Download and process the net deposit?”
    • Once the feature is enabled it will allow you to configure accounts for both transfer from and transfer to.
      • Select account to transfer deposits from – Choose the clearing account in QuickBooks Online where all payments from Webgility Online sales, refunds, and fees are posted. For smooth reconciliation, ensure that all orders, refunds, and fee payments are configured to deposit into this account.
      • Select account to transfer deposits to – Choose the bank account in QuickBooks Online where the actual funds are received and reconciled. This should be the account you regularly use for bank reconciliation.
  • Click on Save.

How It Works

  • In Webgility Online, you will see all net deposits received from Shopify  in the Deposits tab under Sales.
  • As soon as you enable the feature to download and process deposits from Shopify, you can review deposit details and post it manually.
  • Upon posting, Webgility Online will create a Transfer transaction in QuickBooks Online between the configured “From” and “To” accounts.

  • You can also set the automation for the same under Automation > Scheduler Rules > Expenses & Fees, Turn ON the toggle button for “Sync Payout Fees automatically” and then click on Save.

This process ensures that when the actual deposit hits your bank, QuickBooks  Online can easily match it to the corresponding transfer, making bank reconciliation fast and accurate.

Who Can Use This Feature?

  • Available to all customers on any Webgility Online package.
  • Only applicable if using the Transactional accounting method in your setup.