Square, PayPal and Shopify: bring in their files

If you take payments with Square, sell through PayPal or run a Shopify store, bring in their own export file. TallyPip books every sale at its full amount, with discounts, tips, refunds and sales tax in their own accounts and fees as an expense, and each payout as a transfer to your bank, matched to the deposit in your bank feed. Nothing is counted twice.

Set it up

1. 1Open Sales channels (Sales & Get Paid › Sales channels) and press Add Square, Add PayPal or Add Shopify.
2. 2Give it a name (your business, location or store) and choose the bank account it pays into. Press Set up.
3. 3TallyPip adds a balance account (for example "Square balance (Main St)") and an account for each kind of activity. Change any of them under Where each kind of activity goes.

Bring in the file

• Square: Square Dashboard › Transactions › choose the dates › Export › Transactions CSV.
• PayPal: Activity › All reports › Activity download › Balance affecting, CSV (tick Transaction Event Code under Customize report fields). Up to 12 months at a time.
• Shopify: Finance › Payouts › Export (or Settings › Payments › View payouts › View transactions › Export).

Choose the file under Bring in, check the preview (sales, fees, refunds, payouts and anything left out) and press Bring it in. Bring in any dates you like: lines already brought in are skipped, so a file brought in twice adds nothing.

Match the payouts

Each payout shows in Bank transactions as a match for the deposit ("Your Square payout"). Press Match: the deposit is the payout, never income again. A payout's line on the Sales channels page opens what's in it.

Square took something its file doesn't show (a dispute or an instant-transfer fee), so the bank got a little less? Press Bank got a different amount? on that payout and type what the bank got: the difference goes to Other Square activity and the payout matches.

What goes where

• Square: card sales go through the Square balance; cash sales go to "Cash from Square sales" (they're in your till), and gift cards to "Square gift cards outstanding". Sales tax and tips each have their own account.
• PayPal: payments you receive are sales (with PayPal's fee as an expense); payments you send go to "Paid with PayPal" so you can look at them; money PayPal holds goes to "PayPal funds on hold" until it's released; withdrawals are payouts. Lines in another currency are left out and counted in the preview.
• Shopify: charges, refunds, fees, disputes and reserves from Shopify Payments. Its file doesn't show sales tax, so each month type the tax from Shopify's Taxes report under Sales tax you collected: TallyPip moves it out of sales.

Sales tax you collected goes to "Sales tax collected (Square/PayPal/Shopify)". Pay your sales tax from it when you file (it's separate from the sales tax TallyPip works out from your invoices).

Took in the wrong file? Under Files brought in, press Take out: its sales, fees and payouts come out of your books, and matched deposits go back for review.