This article is going to explain in brief how Reconcile.ly works, and how we go above and beyond simply exporting your orders.

Reconcile.ly is a Shopify to Xero connector, which has two powerful features rolled up into one app!


Shopify Payments

The first is consolidation of Shopify Payments payouts. Depending on your payout frequency, Shopify Payments will batch several orders together, deduct their fee and send the rest to your bank account.

So trying to reconcile that payout, against multiple invoices and then making manual adjustments takes a lot of time, as well as being error prone. This is were Reconcile.ly steps in!

Reconcile.ly will look at every single line item, of every order involved in that payout, and use all this data to create one simple summarised invoice in Xero. That invoice will contain consolidated line items of various sales data such as:

  • Total Sales
  • Total Sales (Tax Exempt)
  • Shipping Income
  • Shopify Fees
  • Giftcard sales and redemption
  • Variations in currency FX (Multi-currency stores)
  • & more

The bottom line of the invoice will then match the actual payout amount, meaning one click reconciliation for all of those orders. Plus each account within Xero is correctly adjusted - something your accountant will be very pleased about!

Individual Orders

Great! But what about orders that didn't use Shopify Payments as a payment gateway?

These orders can be sent to Xero on an invoice per order basis, unfortunately we are not able to make this simple as Shopify Payments straight away - but we are going to be adding this feature for many gateways in the near future.

To reconcile these, simply match one or multiple invoices to the deposit when it appears in your bank feed.

This part of the app is still feature rich, we will use the same mappings you set for Shopify Payments, plus some added options:

  • You can turn this feature completely off. Simply select 'No' as the first option.
  • Sometimes you may not want a certain gateway to be sent to Xero, select them here. Missing from the list? - get in touch on the live chat and we can add it for you.
  • You can opt to send the orders to Xero when they are first created, or when they are paid in full.
  • You can either export the customer details to Xero, or opt to just use a single contact such as 'Shopify'.
  • You can also opt to apply payments to bank account when you receive a payment on an order. You will then reconcile the deposited amount in the bank feed against the payment rather than the invoice. (Handy for partial payments!)


Conclusion

Using the two above features of Reconcile.ly will greatly reduce the amount of time you spend reconciling your Shopify income, and may even save you money by correctly recording expenses and accurately recording sales tax!

As always, if you have any questions just reach out!

Did this answer your question?