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In this video, I'll share with you why you need to be using clearing accounts for your Shopify bookkeeping. ------------------------------------- Chapters 0:00 Intro 0:24 What are e-commerce clearing accounts? 0:57 E-commerce timing differences 1:26 Chart of accounts set up 2:06 A2X setup 2:49 Clearing account workflow 3:49 Clearing account example 4:41 The reality of hundreds of transactions 5:10 Categorizing deposits received from payment processors 5:52 QBO bank feeds and deposits from payment processors 7:07 Reconciling clearing accounts 7:59 Download my free Shopify Bookkeeping Blueprint Our e-commerce accounting videos have moved to a brand new channel. Visit us at the Mavency channel for new content and be sure to hit that subscribe button / @wearemavency Ready to take on your Shopify financials like a pro while helping your e-commerce business grow? Download your free Shopify Bookkeeping Blueprint where I share the step-by-step processes you need to succeed: https://bit.ly/SHBKBlueprint Are you ready to work with a trusted and reliable Shopify bookkeeping pro? Learn more about my bookkeeping, coaching, and integration services and pricing: https://mavency.com/request-info_ecom... notified about all my latest content, webinars, courses, and more: https://mavency.ck.page/content Join my Facebook community of like-minded eCom sellers and bookkeepers and we'll be happy to help: http://bit.ly/2Am1lLQ **Special discount: Get 50% off the monthly price of QuickBooks Online for the first 3 months with this link: https://quickbooks.grsm.io/VeronicaWasek Save time and effort every month by automating your Shopify and QuickBooks integration with A2X: https://www.a2xaccounting.com/signup **Get 20% off your first 6 months with A2X by using this discount code**: VM_20_6MON_2021 Follow us on Instagram @WeAreMavency for e-commerce bookkeeping tips, inspiration, and some behind-the-scenes looks at what we're up to: / wearemavency Recommended playlist: e-commerce accounting: http://bit.ly/36SDaRV **Affiliate link Copyright 2022 5MB LLC