Bookkeeping for Shopify and online stores in BC
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A payout is not a sale. Platforms pay out in batches with fees, refunds and taxes netted off, and the books have to take each one apart. We do that every month.
Short answer: an online store’s bank deposits are payouts, not sales. Each one is gross sales less platform fees, refunds and chargebacks, sometimes with sales tax inside it. The books have to split them back out so revenue, fees, GST at 5% and PST at 7% are each right. Orbis Accounting Ltd. connects Shopify and Stripe to QuickBooks Online, Xero or Sage 50, reconciles every payout, files GST and PST, and prepares the year-end return.
What is hard in an online store’s books?
- Payouts netted of fees. Recording the deposit as the sale understates both revenue and the fees you can deduct.
- Refunds and chargebacks, which reverse sales and sometimes the tax on them.
- Inventory and cost of goods sold, so the profit on each month is real.
- Sales tax. Goods sold to BC customers generally carry PST as well as GST. A marketplace that acts as a facilitator collects the PST, but it collects GST only for sellers who are not registered, and your own store’s tax is always yours.
- Several channels at once: your own store, a marketplace, and in-person sales through a card reader.
What we do each month for an online store
- Connect Shopify and Stripe, and reconcile every payout to the orders, fees and refunds inside it.
- Track inventory purchases and cost of goods sold.
- File GST and PST on schedule, with imports and platform-collected tax handled correctly.
- Give you a monthly profit and loss by channel where the data allows.
Who this fits, and who it does not
It fits BC-based online stores and retailers, from a one-person Shopify store to a small team selling across several channels. It does not cover registering for or filing sales tax in provinces outside BC. If you sell heavily into other provinces, ask first.
Do I charge PST on online sales to BC customers?
Goods sold to customers in BC are generally subject to PST at 7% as well as GST at 5%. The PST guide for businesses that sell goods explains registration and what is exempt.
Why don’t my Shopify payouts match my sales?
Because a payout is sales less fees, refunds and chargebacks, paid in batches on the platform’s schedule. Reconciling each payout to its orders is what makes the two agree.
Do I pay GST and PST on goods I import?
GST is collected at the border and a registrant can claim it back. PST on imports gets no credit and may need self-assessing. The importing guide explains both.
Can you move me off spreadsheets?
Yes. Software setup, including connecting Shopify and Stripe, is quoted as part of starting.
Amazon, Etsy or Shopify: who collects GST and PST →
Starting an online store: what to register →
Inventory and cost of goods sold →
Side hustle or business? When selling online is taxable →
PST when your business sells goods →
Importing goods: GST and PST →
Tell us what your business does
Tell us your trade, roughly how many transactions a month and what you need filed, and a written plan and a fixed monthly price follow within one business day.
info@orbisaccounting.ca