Entrepreneurship & Small Business

Shopify ->accounting software, advice

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  • Mar 20th, 2017 3:39 pm
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[OP]
Deal Fanatic
Nov 17, 2004
5560 posts
442 upvotes
Toronto

Shopify ->accounting software, advice

Hi,

I Currently sell a product. My online store is on shopify. My prices are in USD and most of my expenses are in USD. Shopify deposits CC payment as US currency into my USD account, I also accept paypal and fund are deposited into my paypal account as USD.

The desktop version of quickbooks supports mutli currency, but the quickbooks desktop apps on shopify for easy shopify data exporting into desktop quickbooks does not seem to support Canadian quickbooks.

Quickbooks online, only supports multi currency for bank/asset accounts, for expenses and income it does not support USD when my home currency is CAD.

Someone please give me some advice, work arounds, other software, etc.... Anything, I am out of ideas.
I workout to get big so I can pickup bricks and ****.
5 replies
[OP]
Deal Fanatic
Nov 17, 2004
5560 posts
442 upvotes
Toronto
bump
I workout to get big so I can pickup bricks and ****.
Sr. Member
User avatar
Apr 25, 2007
846 posts
41 upvotes
Markham
I pm'ed u
I don't have a signature right now, help me think of one? :)
[OP]
Deal Fanatic
Nov 17, 2004
5560 posts
442 upvotes
Toronto
got no pm from you
I workout to get big so I can pickup bricks and ****.
Sr. Member
User avatar
Apr 25, 2007
846 posts
41 upvotes
Markham
Check again... Cause it says you didn't read it yet...
I don't have a signature right now, help me think of one? :)
Member
Mar 28, 2012
289 posts
69 upvotes
My Kijiji sofa
"Quickbooks online, only supports multi currency for bank/asset accounts, for expenses and income it does not support USD when my home currency is CAD"
Sage 50 does support both currencies - this is the way it's done (I don't know quickbooks) - you don't set income or expense categories specifically for $USD. If your home currency is $CAD then most categories and reprts will be by default in $CAD. You set a customer (or supplier) in $USD and when you sell to that customer (or buy from that vendor), you enter the exchange rate, and the amount shows up as the equivalent in $CAD in your income (or expense) category.

If you can not transfer in individual transactions, perhaps you can generate a monthly (or weekly) summary of sales from Shopify and input that manually as one transaction in the accounting. I used to work at a pet clinic with a software that did not export anything. We printed month end reports from it and entered those total numbers manually in the accounting software, and kept the hardcopy as a record. Monthly and annual figures woud match in both, but the accounting wouldn't have individual details for each sale is all - refer back to the clinic software of we needed to look anything up. Perfectly okay.
I am open! Let's get on with the hacking - I assume it vibrates?
Ref: Dazz
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