Question 1

Why doesn't my Shopify deposit ever match what I actually sold?

Accepted Answer

This trips up almost every store owner. Shopify pays you a net amount after deducting payment processing fees, refunds, chargebacks, and sometimes shipping credits — so the deposit in your bank is never equal to your gross sales. We reconcile every payout batch back to the original gross sales figure, break out each deduction by type, and post them correctly in QuickBooks or Xero. The result: a P&L that shows your true revenue and true expenses, not just whatever landed in your account.

Question 2

I sell on Shopify, Amazon, and Etsy. Can you handle all three at once?

Accepted Answer

Yes, and this is one of the most common situations we work with. Each platform has its own fee structure, payout timing, and revenue reporting quirks. We reconcile all three channels side by side, categorize every fee type correctly — Amazon referral fees, FBA costs, Etsy listing and transaction fees — and give you a single, consolidated P&L so you can see exactly where your margin is coming from across platforms.

Question 3

Do I have to collect sales tax in US states if I'm a Canadian business?

Accepted Answer

If you've crossed economic nexus thresholds — generally $100,000 USD in sales or 200 separate transactions in a given state in a year — then yes, you're legally required to register, collect, and remit sales tax in that state. Many Canadian e-commerce sellers don't realize this applies to them until they get a notice. We track your revenue by state, flag when you're approaching nexus thresholds, and coordinate filings before you're exposed. We also handle your Canadian GST/HST and PST/QST obligations on the same cadence.

Question 4

What's the best accounting software for a Shopify store?

Accepted Answer

QuickBooks Online and Xero are both strong choices, and we're certified on both. QBO tends to be better for US-based sellers and those who need robust payroll integration. Xero is often preferred for Canadian and international businesses. Whichever you're on, we connect it directly to Shopify, configure A2X or a similar reconciliation app to automate payout mapping, and eliminate the manual entry errors that come from copy-pasting numbers. If you're not on either yet, we'll help you choose based on your volume and geography.

Question 5

How do I properly track cost of goods sold for my online store?

Accepted Answer

COGS is where a lot of e-commerce P&Ls go wrong. Many store owners either lump product costs in with general expenses or miss them entirely, which makes gross margin meaningless. We set up your chart of accounts to properly separate product costs from operating expenses, then reconcile inventory purchases against sales each month — whether you're using perpetual or periodic inventory. The payoff is accurate gross margin every month, which is essential for pricing decisions, supplier negotiations, and tax accuracy.

Question 6

I sell in USD, CAD, and sometimes GBP. How do you handle multiple currencies?

Accepted Answer

Multi-currency reconciliation is a core part of what we do. We record every foreign currency transaction at the correct exchange rate (using Bank of Canada daily rates for CAD filings, or the transaction-date rate depending on your CRA or IRS requirements), reconcile your foreign currency bank accounts separately, and accurately report realized and unrealized FX gains and losses on your monthly statements. Nothing gets lumped together or averaged — every currency gets its own clean trail.

Question 7

My books are way behind — months of transactions just sitting there. Can you fix that?

Accepted Answer

Yes, and you're not alone in this. Catch-up bookkeeping is one of our most common first engagements. We set aside current-month work and go back systematically, month by month, clearing miscategorizations, duplicate entries, and anything sitting in suspense. We build a clean, defensible baseline — then transition you onto our regular monthly rhythm from there. Most catch-up projects wrap up within two to six weeks, depending on transaction volume. The only thing we ask is that you not keep adding to the backlog while we clear it.

Question 8

Do you handle GST/HST registration and filing for my Canadian Shopify store?

Accepted Answer

Yes. Once you exceed $30,000 CAD in annual revenue, GST/HST registration is mandatory in Canada. We calculate your net GST/HST owing each quarter (including input tax credits so you're not overpaying), prepare the return, and file it with the CRA on time. For stores selling into BC, Saskatchewan, Manitoba, or Quebec, we also track your PST and QST obligations separately. The whole thing runs in the background — you won't need to think about it.

Bookkeeper for Shopify stores
across Canada & the USA.

Shopify store owners

Marketplace sellers

Cross-border e-commerce

Why e-commerce bookkeeping is uniquely complex

Our core services for this industry

Shopify Payout Reconciliation

Marketplace Fee Categorization

Sales Tax Nexus Management

COGS & Inventory Tracking

Multi-Currency Reconciliation

Monthly Profitability Reports

Sales tax compliance for Canadian e-commerce

Federal Sales Tax

Provincial Sales Tax

State Sales Tax

5 bookkeeping mistakes Shopify store owners make

Recording the Shopify deposit as revenue

Missing US economic nexus obligations

Lumping COGS in with operating expenses

Ignoring GST/HST once you've registered

Treating multi-currency transactions as CAD or USD

Every platform your store runs on

Common questions

Ready for books that
match your Shopify dashboard?

Bookkeeper for Shopify storesacross Canada & the USA.