On the Accounts & Taxes you will see we segregated the transaction types into various categories to make it easier to map your accounts and taxes. Here are explanation of each of the categories.
Discounts: Shopify discounts are promotions applied to orders, which can be applied to the entire order, shipments, or various items within the order.
Gateway Transactions: Transactions that apply to other online payment gateways and providers. For example, PayPal or Amazon Pay. These transaction type a clearing account like the one we we setup for you. A gateway transaction represents the sales or refunds expected through a particular payment gateway. The full list of online payment gateways and providers can be found here.
Gift Card Liabilities: Transactions relating to the liabilities of gift cards.
Other: Transaction types that have not yet been categorized.
Payment and Selling Fees: Fees charged by Shopify, including any adjustments.
Pending Payments: Transactions where an order has been made but you did not receive payment yet, or a refund has been sent but payment has not yet been released. When the payment goes through, the pending balances account is reduced and the payment amount is allocated to the correct payment gateway.
Refunds: Refund amounts, including refund adjustments.
Sales: Revenue from sales of goods on Shopify.
Shipping: Shipping revenue amounts paid to you by customers.
Tax: Any sales tax / VAT paid by your customers.
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