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Considerations on postings, deposits, and unique scenarios
Bank Deposit Timing:
Bank deposit timing can vary depending on many factors. As a result, you may see deposits settle in your bank as long as 5 business days after the initial deposit was initiated from the source (sometimes even longer). For example, a deposit from Shopify or another ecommerce platform may have been initiated on 7/1/22 but not actually settle in your bank until 7/8/22. This is an extreme scenario but indicates the variability of the timing. As a result, when running an "Import Range" for a deposit in Bookkeep, you may want to run a range of a few days before the actual deposit to your bank account. This ensures we capture the deposit when it was initiated by the platform sending you the deposit e.g. Etsy.
Modified Order/Transaction Data:
Bookkeep completes its daily summaries the following day. For example, for a sales summary of 7/1/22, we would complete this posting on 7/2/22 to retrieve the sales data from 7/1/22. However, if there is a change to an order from 7/1/22 after 7/2/22, it is recommended that you re-run the day impacted by the order change. This ensures the data retrieved from Bookkeep is kept up to date with the source platform. If an order from 7/1/22 were cancelled on 7/4/22, it would be best practice to re-run 7/1/22 to ensure we retrieve the latest financial data. This can be done from the Activity View in Bookkeep by selecting the specific template to run e.g. Shopify Sales and selecting the date range to re-run as shown below:
Square Refund Method Different from Payment Method:
We have observed cases with Square transactions that were refunded to a different payment method than the original payment method that can cause reporting discrepancies. Due to data limitations, these have to be manually updated. An example would be a payment done with a Visa credit card that was refunded to a gift card. In some situations, we have observed this refund appearing as if it went back to the Visa card instead of the gift card. This is uncommon, but we want to share this in case a discrepancy is observed.
Importing Orders from others apps to Shopify
Within Shopify, it is possible to import orders from third party apps e.g. Faire. This means that a Faire order will be created in Faire and then sent over to Shopify. When this is done, the order was processed in Faire before being created in Shopify. As a result, we have observed scenarios where Shopify Finance Summaries may not include these imported orders leading to confusion. However, the order is present in Shopify and captured by Bookkeep based on when the order was created in the source system e.g. Faire.