Shopify merchants: Don't record your entire payout as 'sales' or 'income'!

Shopify payouts aren’t just sales; they also include fees, refunds, sales tax, and other transactions. If you record the whole payout as “income,” you could end up over-reporting sales or miscalculating your taxes.

Want to make this process easier? Tools like A2X can automatically break down your Shopify payouts, categorizing sales, refunds, fees, and taxes to ensure you’re recording everything accurately.

Make sure you consult with a sales tax professional to better understand your specific obligations.