Financial Data Flow

Understanding how your flow of financial data is critical as it relates to sales, payments, and balances

Today, there are nearly an infinite number of platforms to generate sales. With the generation of these sales, there are also a large number of platforms to process the payments tied to those sales. Therefore, it is critical to understand your flow of financial data and how it ends up in a bank or balance account.

When we think about the financial data flow at Bookkeep, we consider the workflow of sales recognition to payments for those sales and a balance landing somewhere for those sales. This balance is generally net of any fees.

In this complex ecommerce world, it is possible that your location for sales, payments, and balance could be the same platform, while in other scenarios each component may be a different platform.

For example, you may be generating invoices with your PayPal account, having payments collected by PayPal, and keeping your balance in PayPal. In this case, sales, payments, and your balance are all in one system: PayPal. In most cases, we find that it is not this straightforward. We see the sales come from one system (e.g. Woocommerce), payments in another system (e.g. Paypal), and the balance landing in a bank account or balance account.

Below we illustrate a few examples of common financial data flow scenarios we commonly encounter:

Sales Source Payments Source Balance Source
Shopify  Shopify Bank Institution
Shopify PayPal Bank Institution
Square Square Square
Woocommerce PayPal Bank Institution
Woocommerce PayPal


Woocommerce Stripe Bank Institution
Walmart Walmart Bank Institution
Shopify Sezzle Bank Institution

This table illustrates the complexity as well as the breadth of options that exist. We are barely scratching the surface. Therefore, it is critical to understand your flow of financial data to ensure you are capturing all financial data and tracking sales, payments, and balances properly. Contact if you are interested in learning more or need help understanding your financial data flow.