Yes, Pipemonk does support payment transaction fees while syncing your orders from Shopify to QuickBooks Online. With few clicks, you can match payments synced from Shopify with the transactions downloaded from the bank in your QuickBooks Online. You don't need to make manual adjustments anymore. Please check this article to see how it appears in your QuickBooks Online.


You just need to configure few settings to meet the pre-requisite condition to ensure that payment fee tracking for your account:

  • Login to your Pipemonk account and Go to the Dashboard.

  • In case you have multiple integration in your account, select the one for which you want to change the settings.

  • Click View Logs & Settings, you will be redirected to a new page as shown below:



  • Under the 'Settings' tab, click on the 'Orders' section.
  • Configure the setting for "Do you want to account for payment fees" to "Yes". (See the below Image) 


  • The next important thing is to select the 'Payment fees account' for accounting payment fees charged on Orders. (See the above image)
  • Click Save.

What is Payment Transaction Fees?


Let’s assume, there was an order #1001 with bill amount 100$ and this transaction was done through PayPal gateway in Shopify. Now assume PayPal takes 1% of bill amount as transaction fees.


In this case, only 99$ is credited to your Bank Account and the remaining 1$ is charged as payment transaction fees. In this scenario, when this order is synced, the amount in your QuickBooks ‘Deposit Account’ will be 99$ only and the remaining 1$ will go to ‘PayPal Fees’ account.


This way you need not manually adjust the invoices in your QuickBooks account. With just 1-click, you can 'Match' payments synced from Shopify with the transactions downloaded from the bank.


How are we achieving and automating it?


So yes, following is what happens in the background when you choose 'Yes' for 'Do you want to account for Payment Processing Fees?' option.


A corresponding invoice to order #1001 with a total of 100$, Payment of 99$ and credit memo of 1$ is created against it for a customer who placed that order.


Credit memo details: Product/Service will be ‘Payment Transaction Fee’ with amount 1$. Payment and Credit memo are linked, which can be validated when payment is opened.


Note: As of today, some of the payment gateways we support are- Shopify Payment Gateway & PayPal payment Gateway.