Having issues reconciling due to Shopify's time zone setting? You can now break out your batch to match your payouts from Shopify regardless of your time zone with our Daily Summary app. Log into your account and follow the tutorial below to start.
Shopify is a global company and so is Stripe, the underlying foundation of the Shopify Payments Product. Because of that, I assume, they don't let you set your batch closing time like a merchant processor in the USA would do. This is a pain because your deposits will never match the amount your reports show in your time zone.
What happens is Shopify closes your payment batch at midnight GMT. So if you are in New York that would be 8PM. Lets say you did 3 orders for $100 each before 8pm and 2 orders for $100 each after 8PM (for simplicity forget tax, fees etc). Your report for the day would show sales of $500 and an expected deposit from Shopify before fees of $500.
But Shopify Payments doesn't see it that way. For that day Shopify Payments sees only $300 in payments and $200 for "TOMORROW". So your deposit from Shopify will never match up to the 24 hour time period in your time zone.
We came up with a solution we think will help. You can now optionally split the payments we post for Shopify into "Today's Batch" and "Tomorrow's Batch".
This will allow you to match 2 or 3 tender amounts (sometimes more over a weekend) to the deposit that Shopify makes a few days later.
Take a look at this example below the top shows not splitting out the days payments and the bottom is if you do split the days. You can see that in your accounting system you could check off the 3 tender amounts on the left and they will match exactly the reduction in tender before fees for the next day's deposit.
In your mapping window for Shopify you can simply map the amounts to the same account for Shopify Expected Deposits (We call it Shopify Tendered Shopify Payments) and then the memo field will show "Today's Batch" and "Tomorrow's Batch" to indicate the split.
We think this should help make it much easier to reconcile. It's never easy reconciling with batched payments but we hope with our product we can make your day a little bit easier. Let us know what you think.