Monthly service
Shopify seller accounting
Shopify seller accounting turns your store's orders, refunds, payouts and fees into proper books and GST returns. LanceIQ connects to your Shopify store, records every order as an invoice and settles each payout against its orders and fees.
What is included
- Shopify orders recorded as GST invoices
- Refunds recorded as credit notes
- Each payout settled against its orders, refunds and fees
- Gateway and platform fees recorded with their GST
- GST on each sale worked out by the customer's state
- Stock movements kept in step with your store
- Discounts and shipping charges recorded on each order
- A monthly view of sales, refunds and fees by store
Who it is for
For D2C brands and Shopify sellers in India, from a single store to several, who are tired of reconciling payouts in spreadsheets. It suits brands selling across states, with refunds, discounts and payment gateway fees every week.
What you provide
- Approval to connect your Shopify store
- Bank statements for the account that receives payouts
Everything else is done for you.
When it happens
| When | What |
|---|---|
| Daily | New orders and refunds flow into your books |
| Each payout | Payout matched to its orders and fees |
| Monthly | GST returns filed from the recorded sales |
Common questions
Does LanceIQ connect directly to Shopify?
Yes. You approve the connection once and orders, refunds and payouts flow into your books from then on.
How are Shopify payouts reconciled?
Each payout is matched to the orders, refunds and fees it covers, then to the bank line that received it, so the difference is zero or clearly explained.
How is GST worked out on Shopify orders?
GST on each order is worked out from the customer's delivery state: CGST and SGST for sales within your state, IGST for sales to other states. The results flow straight into GSTR-1.
Can you handle more than one Shopify store?
Yes. Each store connects separately and its orders and payouts are kept apart, while your books and GST returns bring them together.