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You can use Shopify Payments for things like accepting payments, tracking amounts, and raising disputes. Import your fees, payments, and refunds from Shopify into NetSuite to track your net margins. Raise disputes with Shopify for unprocessed amounts and reconcile transactions made against orders and refunds in NetSuite.
If you're manually reconciling your transactions by creating deposit records in NetSuite and then moving funds around, this add-on automates that process for you. It's designed to track and accurately reflect the payments in your bank account.
With Shopify Payouts, you can:
- Automatically download the reports from Shopify.
- Process multiple payout reports in one run.
- Report orders that are causing discrepancies and unsettled amounts.
- Ability to delay the reconciling process for a certain window with the “Lag to bring payout related records” setting
- Track fees, Refund Adjustment fee, and Disputes against GL account.
Understand how the flows work
Step 1: To create payout custom records in NetSuite
The “Shopify Payout to NetSuite Payout Custom Record” flow fetches the Payout records with “Paid” status from Shopify. The flow then creates the “Celigo Shopify Payout” custom record per payout in NetSuite. This is a scheduled flow. All the deposits for the payout will be linked to the custom record. For more information related to a custom record, refer to understand payout related records created in NetSuite.
Step 2: To create deposits in NetSuite
The “Shopify Payout Transactions to NetSuite Deposit” flow uses the payout transactions and creates bank deposits in NetSuite. A deposit is created in NetSuite with a maximum of 2000 Shopify transactions. If the number of transactions in the payout record is more than 2000, multiple deposits are created in NetSuite.
Example: If a payout has 2500 transactions, two deposits are created in NetSuite, one deposit with 2000 transactions and another with 500 transactions.
For each transaction available in the payout record:
- If the transaction type is “charge”: look for an associated cash sale or customer deposit for the sales order via order ID.
- If the transaction type is “refund”: look for an associated cash refund or customer refund for the sales order via order ID.
If the values do not match
If the NetSuite transaction amount value does not match with the Shopify transaction value, a variance transaction with type “Amount Mismatch” is created in NetSuite. If no transaction is found, a variance transaction with type “Missing Transaction” is created in NetSuite. All the variance transactions are linked to the Deposit.
Understand the flow schedule
The scheduled flow fetches the Payouts from Shopify and creates Payout Custom records and Deposits in NetSuite as follows:
The flow does not support to create,
- Payments against an invoice
- Refunds against a credit memo.
Understand a Shopify payout record
A Shopify payout record provides a detailed breakdown of account activity for a given settlement period. The settlements vary with different countries.
Example: In the USA, the Shopify payout record is created at the end of each working day. You can also schedule your payouts. Refer to the Schedule your payouts section.
For more information on how to install and configure the add-on, refer to this article.
You can ask questions about the payout reconciliation add-on in our community forum.