1. Confirm source coverage
Verify that the month includes every expected Shopify payout and that late refunds, disputes, or adjustments have been captured. Record any payouts that remain pending at the close date.
2. Reconcile sales and tax
Compare Shopify sales and tax reports with the reconstructed payout activity for the same accounting period and timezone. Investigate timing differences rather than forcing the reports to agree.
3. Review refunds, disputes, and fees
Confirm that refunds reduce the intended revenue or refund account, fees reach the correct expense account, and disputes are consistently classified. Unusual adjustments should have a note and supporting evidence.
4. Validate COGS
Check product cost coverage, inventory movements, and any orders without an approved cost. If COGS is incomplete, document the limitation before relying on gross profit reporting.
5. Approve and post journals
- Mappings are approved
- Every journal balances
- Payout IDs are included
- No payout is duplicated
- The accounting period is correct
- The clearing amount equals the payout
6. Match cash and sign off
Match posted payout entries to the QuickBooks bank feed and investigate anything left in the Shopify clearing account. Save the reconciliation reports, unresolved exceptions, and reviewer sign-off as the month’s close evidence.