AccountEdge Pro - Shopify Linked Accounts

Set Accounts for Shopify Items

In AccountEdge Pro, you'll need to set accounts for use with Shopify products and orders. In some cases you'll also need to set initial values in some of these accounts.

Linked Accounts

In the Linked Accounts window, you'll need to set accounts associated to Shopify Orders

Sales Tax Collected
Sales tax collected on Shopify orders will be posted to this liability, type other liability account in AccountEdge Pro
I buy items imported from Shopify
When items are imported from Shopify to AccountEdge Pro, an Expense account will be set for non-inventoried items, and a Cost of Sales account will be set for inventoried items.
If inventory is tracked in Shopify, imported items should track inventory
If Shopify items are set to track inventory, when imported into AccountEdge Pro, I Inventory with the Inventory account will be set for the item in AccountEdge Pro.
Income
Revenue from all Shopify Orders will be posted to this Income account
Liability (gift cards)
Payments for gift cards will be posted to this Liability account, which should be type Credit Card. When gift cards are used for purchases, the Accounts Receivable amount will be paid from this account.
Expense
Non-inventoried items will be set to I Buy, using this account, if the I buy items imported from Shopify box (above) is checked.
Cost of Sales
Inventoried items will be set with this Cost of Sales account
Asset
Inventoried items will be set with this Asset account, which is usually an asset account representing inventory.

Non-inventoried Items

In Shopify, you can indicate whether Shopify will maintain inventory for each individual item, or not. When non-inventoried items are sold, the resulting order will post the sale amount to the above-indicated income account, and the amount due to the Accounts Receivable account. When a non-inventoried, Shopify item is imported into the AccountEdge Pro inventory system, the I Sell this item box will be checked, and the above Income account will be set for the item. If the I buy items imported from Shopify box is checked, the I Buy this item box will be checked, and the Expense account will be set for this item. If the I buy items imported from Shopify box is not checked, the I Buy this item box will not be checked, and the expense account will not be set.

Inventoried Items

When inventoried items are sold, the resulting order will post the sale amount to the above-indicated income account, and the amount due to the Accounts Receivable account. When an inventoried, Shopify item is imported into the AccountEdge Pro inventory system, the I Sell this item box will be checked, and the above Income account will be set for the item. If the I buy items imported from Shopify box is checked, the I Buy this item box will be checked, and the Cost of Sales account will be set for this item. If the I buy items imported from Shopify box is not checked, the I Buy this item box will not be checked, but the cost of sales account will be set.