The Shopify Settlement Reports feature is designed to track the fees and payment status of every order placed on a sales channel using the Shopify platform.

Through the Shopify API, MarginDriver captures the actual payment processing fees from Shopify Payments and calculates the net amount Shopify owes the user for each order and matches such information against the deposits/payments made by Shopify. Through this process MarginDriver arrives at the accounts receivable balance due from Shopify at the end of each day, as well as at the end of each month. If the user provides customers with the option to use a payment method other than Shopify such as PayPal, Amazon Pay or other gateway option, this feature will identify such orders by each payment gateway.

MarginDriver will soon provide the tracking of payments for Shopify orders processed via payment gateways other than Shopify Payments such as PayPal and several of the other major payment gateways.

Shopify’s end of month accounts receivable balance established in this feature is compared in Monthly Accounting Task #3 feature to the seller’s general ledger Shopify accounts receivable balance. The general ledger balance is then adjusted to agree with the confirmed actual Shopify accounts receivable balance.

Comparing Shopify’s confirmed end of month accounts receivable balance to the seller’s general ledger balance assures MarginDriver users of the ongoing accuracy of all of MarginDriver’s monthly financial and analytical reports.

Tracking Shopify Accounts Receivable & Settlement Reports

Displayed first in this Shopify Settlement Reports feature are four dashboard cards with key information on the user's Shopify accounts receivable balance and payments.

Current Accounts Receivable Balance 

The Shopify accounts receivable balance as of the most recent hourly pull of data from Shopify API.

AR End of Last Month

The Shopify accounts receivable balance at the end of the previous month. Note that if the user selects the option to bring up the end of month balance for a month other than the most recent previous month, the amount in this box will not change as it will always contain the accounts receivable balance at the end of the last month.

Last Settlement

The amount and date of the most recent Shopify settlement statement and deposit.

Next Settlement Date

The expected date of the next Shopify deposit.

Accounts Receivable Order Tracking 

The Accounts Receivable Order Tracking feature is designed to track and display the payment status of every Shopify order.

The user has several options for displaying the payment status of Shopify orders. One can elect to show the orders that make up either the current accounts receivable balance (Current Balance) or the end of a selected month’s accounts receivable balance (End of Month). Within each of these choices the user has the option to Include or Exclude the orders that have already been paid.

If the user selects the accounts receivable balance at the end of a given month and also selects Include, all of the orders for the month are displayed – the paid as well as the unpaid orders - and each order is identified as Paid or Unpaid. If the user selects Exclude then only the unpaid orders that make up the end of month accounts receivable balance will be shown.

The user can then click on the down arrow to the left of each month to see the individual orders that match the active selections.

The content of most of the columns on the screen are easily understood by the column’s title but the following columns may need further explanation:

Third Party Order Number

The Shopify order number.

Est. Due Amount

The estimated due amount for each order arrived at by taking the Total Revenue for each order less the Fees & Allowances.

Amount Paid

Displays the actual amount paid for each order once the payout has been disbursed by Shopify. If the order is to be paid by a payment gateway other than Shopify, a zero will populate this column because MarginDriver does not have access to the timing and amount of payments made from these sources.

Date Paid/Other Gateway

The current payment status of the order. Each order will be populated by one of the following values:

Date

Applies to orders that have been paid by Shopify - the date shown is the date of payment from Shopify.

PaPal, Stripe or Other Gateway

If the order is being paid by a gateway other than Shopify Payments, the other gateway’s name (e.g., PayPal, Shopify) is displayed.

Unfulfilled

Indicates that the order has not yet been fulfilled.

Unpaid

Indicates that the order has been fulfilled but has not yet been paid by Shopify. If an order is fulfilled but is to be paid by a payment gateway other than Shopify, the name of the other payment gateway such as PayPal will be shown.

Accounts Receivable

The amount due to the user for each order that has been fulfilled but not yet paid by Shopify. If the order is to be paid by a gateway other than Shopify, the amount is this column will always be zero as MarginDriver does not track such payments and assumes such orders are paid when fulfilled.

The total at the bottom of the accounts receivable column is always shown in green to indicate the total accounts receivable amount calculated by the different options selected by the user. If the user selected Current Balance, the total figure shown in green at the bottom of the page will match the figure shown in green in the box at the top of the page displaying the AR Current (balance).

The user can go back and bring up the End of Month accounts receivable balance for any given month and the total of such accounts receivable will also be shown in green. Note that if the user selects the option to bring up the orders that make up the End of Month balance for a month other than the prior month, the total amount in green will not agree with the amount in the box at the top of the page titled AR End of Last Month as the amount in this box will always contain the accounts receivable balance at the end of the most recent month.

Breakdown of Order Settlements by Gateway Deposit

This section tracks all of the user's payments for Shopify orders for the selected time period and provides the option to display the deposits by Order Date, the date the order was placed, or Payment Date, the date the order was paid by the gateway.

The default display is the Order Date option for the most recent full month. And every gateway payment method utilized for the selected month is shown in summary with the respected number of orders and amount for each gateway. The Settlement Date Paid and Deposit Amount columns for all gateways that MarginDriver is not tracking show blanks or zeros next to each order. But if MarginDriver is tracking the payments, as is the case with Shopify Payments, the date of the deposit and the amount of the payment for each order is displayed.

Order Date

This option groups orders by the month the order was placed and allows the user to view every order placed in a given month and its current payment status. If already paid, the date of the deposit which contained which included payment for that order will be displayed in the Settlement Date Paid column and the deposit amount for each order will be displayed in the Amount Paid column.

It is possible that a single deposit will include payment for orders placed in different months. In this case, the deposit will appear in the Settlement Date Paid column for each of the two months. At the end of any given month, it is likely the amount of the deposit being applied to orders in that month in the Amount Paid column will be less than the total deposit because part of the deposit is making payment for orders placed in the following month and therefore this same deposit will show up again in the following month.

Deposit Date

This option displays every deposit made within the selected month. By clicking on the down arrow next to each deposit, the user can see every order paid with this deposit, even if the order was actually placed in a different month than the deposit was made.

Gateway

The Gateway drop down menu allows the user to select view orders and deposits from all gateways or any individual gateway (Shopify Payments or other). If MarginDriver is not tracking the individual payment gateway selected, such as PayPal or Amazon Pay, MarginDriver assumes that the net proceeds due to the seller for all such orders paid by these other gateways are paid on the day the order is placed.