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Here we discuss the accounting automation available for WooCommerce
By integrating your WooCommerce store with Bookkeep, you can optimize your daily sales accounting process and simplify the handling of WooPayments fees, if you are utilizing WooPayments. Our automated journal entry is centered around the Sales Summary, which compiles the sales data from the previous day on a daily basis. This comprehensive entry encompasses everything from the initial gross sales figures to the final net sales amounts, factoring in discounts, refunds, and any other necessary adjustments along the way.
The Sales Summary provides a detailed breakdown of payments based on tender type, covering options like Stripe, Paypal, WooPayments, gift cards, and more. It also takes into account any fees or service charges linked to WooCommerce orders. Bookkeep also offers separate PayPal and Stripe app integrations which can be integrated to capture their fees as discussed here.
Our WooCommerce accounting automation allows you to accurately track and categorize your gross sales and refunds by Product Category or Item Name (as further discussed here), providing you with detailed insights into your revenue streams. Additionally, Bookkeep automatically populates discount subcategories based on the discount descriptions provided. In cases where the description is not available, we utilize the discount code to ensure transparency and help you understand the discounts applied to your sales. This level of detail and customization enhances your accounting process, giving you a clearer picture of your financial transactions within WooCommerce.
You can learn more about how Bookkeep handles WooPayments processing fees here.
Should you have any queries or require further clarification on our WooCommerce accounting automation, please don't hesitate to get in touch with us at support@bookkeep.com.
Below is an example mapping of the WooCommerce daily sales summary:
