MyWorks supports syncing Shopify orders to QuickBooks as either individual transactions (sales receipts or invoices) - or as a single Daily Summary. This doc guides you through using MyWorks to sync Shopify orders to QuickBooks as a single Daily Summary. 

Overview

A daily summary in QuickBooks is a single transaction - a journal entry; that records the total of all sales & transactions that occured in that day. Although this records only the totals for the day; these are separated by QuickBooks account type to still accurately separate different types of sales/transactions, including:

• Payments (separated by payment method)
• Sales of Products (to a single income account, or separated by Shopify Collection)
• Shipping Income
• Discounts given
• Sales Tax
• Refunds (separating product, shipping, discount & sales tax)
• Cost of Goods Sold
• Accounts Receivable (unpaid orders & orders paid later)
• Gift Cards (to a corresponding liability account)
• Tips

This can be enabled by visiting MyWorks Sync > Settings > Order in the MyWorks app - and selecting Daily Summary. Need some orders to sync as Daily Summaries, but others to sync as individual transactions? No problem: choose “Based on Order Tag” to select how each order should sync based on the Shopify Order Tag(s) that it contains. 

Setup

Once Daily Summary is selected in Settings > Order; there's a few other accounts that will need to be selected; allowing MyWorks to accurately sync each summary in to QuickBooks. These are:

• Default Sales Account: where product sales will be recorded. Sales can also be mapped to different QuickBooks income accounts by Shopify Collection - in Map > Collections. 
   
• Default Discount Account: where discounts in Shopify orders will be recorded
   
• Default Shipping Account: where shipping income in Shopify orders will be recorded
   
• Default Sales Tax Account: where sales tax collected in Shopify orders will be recorded
   
• Default A/R Account: the QuickBooks Accounts Receivable account where unpaid orders and orders paid later will be recorded
   
• Default Gift Card Account: the QuickBooks liability account where gift card sales and redemptions will be recorded
   
• Default Tips Account: the QuickBooks income account where tips in a Shopify order will be recorded  

Syncing Daily Summaries

Once setup is complete; MyWorks will begin automatically syncing Daily Summaries to QuickBooks, beginning from today onwards! Here's some helpful tips:

• Past summaries can also be pushed to QuickBooks by visiting MyWorks Sync > Push > Daily Summary.  
   
• Daily Summaries include order payments for the day; and it's usually helpful to also enable Payout Syncing - so when a Shopify Payout is sent to your bank, it can be easily matches. 
   
• The Daily Summary follows the time zone of your Shopify store, as set in your Shopify store settings.
   
• The orders within each summary count towards the monthly order sync limit in the MyWorks plan you're currently on.

Syncing Cost of Goods Sold

If you're not tracking individual products in QuickBooks but still need to accurately track COGS in QuickBooks; MyWorks can help easily track Cost of Goods sold in each daily summary synced to QuickBooks. Simply enable this option in Settings > Order, and set your desired Cost of Goods Sold account & Inventory Asset account. 

Example

When a Daily Summary is synced to QuickBooks, it would look similar to the below example. As shown, it helps correctly record the sales & transaction totals for the day, separating the detail of the sales & transactions between their respective accounts.