This guide provides an overview of how to successfully reconcile repurchases and exchanges using Shopify's and Returnly's reports, by following accounting best practices for effective adjustment.
The reconciliation process between Shopify's and Returnly's reports consists of three main portions:
- Download Shopify’s Total Sales report.
- Download Returnly's Gross-to-Net Sales report.
- Append Returnly's Gross-to-Net Sales report to Shopify’s Total Sales report.
For more information on reconciliation and best practices, see Returnly's Return Reconciliation Guide.
Download Shopify’s Total Sales Report
- On your Shopify dashboard, on the left-hand-side menu, select Analytics.
- Under Analytics, select Reports.
- Navigate to Finances, and select Total Sales.
- On your Total Sales report, select the desired date range.
- Click Apply.
- You will then be presented with the following options: Current page and Full report; select the former, Current page. This is representative of the format of the report and not the data included on the page. The report will download all the data belonging to the selected date range.
- Click Export.
Note: The Total Sales report will be exported as a CSV file.
For more on the data included in this Sales reporting, see Shopify's glossary of terms.
Download Returnly's Gross-to-Net Sales Report
- From your Returnly Return Manager (dashboard), on the left-hand-side menu, select Analytics.
- Click on Finances.
- You will be presented with the following report options: Gift cards and Gross-to-Net Sales. Select Gross-to-Net Sales, and click Export.
- Then, the following Export report window will be displayed.
- Select your desired date range and time zone, and click Confirm. In order for reconciliation between Shopify's and Returnly's reports to be successful, select the same time zone as the one already set for your Shopify account.
- The following confirmation message will be displayed.The Gross-to-Net Sales report has been sent to the specified email address, and can be downloaded from there.
Append Returnly's and Shopify's Reports
- Once the report has been downloaded (as a CSV file), append Returnly’s Gross-to-Net Sales report to Shopify’s Sales Report, and sum the columns from Gross sales to Total sales.
By combining the reports, the Total Sales field will add up to your Total Sales, thus effectively reconciling for repurchases and exchanges, while also adjusting for Gross sales, Discounts, Returns, Net sales, Taxes and Shipping.