Managing Multiple Sales Channels in a Single Entity | Build with Bookkeep

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Bookkeep makes it easy to manage accounting for multiple sales channels—such as Shopify, Square, Amazon, Toast, and more—within a single entity. This guide walks through how connections work, how postings are tracked per channel, and best practices for account mappings.

Connecting Multiple Channels to One Entity

• Each sales channel (e.g., Shopify, Amazon, Toast) can be connected to the same Bookkeep entity.
• Once connected, Bookkeep will create daily journal entries for each channel.
• These entries flow into your accounting system separately, preserving visibility by sales channel while rolling up to the same entity.

How Postings Are Separated or Tagged

• Per-channel journal entries: Bookkeep posts a separate journal entry for each sales channel every day. If transactions occur in multiple currencies on the same day, each currency is recorded in its own entry to ensure accuracy.
• Tags and naming: Each entry includes the channel name in the memo/description for easy identification. You can also use dimensions, classes, or tracking categories in your accounting platform for more detailed reporting and tracking.
• Payout handling: Each channel’s deposits or payouts are posted separately, making it easier to match to bank deposits.

Recommendations for Account Mappings

To keep your books organized and simplify reconciliations, we recommend:

• Channel-specific clearing accounts
  Example: Shopify Clearing, Amazon Clearing, Toast Clearing
  This makes it easy to tie out payouts from each channel to bank deposits
• Revenue account
  Option 1: Use a single revenue account for all channels if consolidated reporting is preferred
  Option 2: Create channel-specific revenue accounts (e.g., Shopify Sales Revenue, Amazon Sales Revenue) for greater visibility and performance tracking
• Expense and fee accounts
  Map fees (payment processor, commissions, platform fees) separately by channel to track true profitability.

Common Pitfalls to Avoid

• Mixing clearing accounts: If multiple channels share the same clearing account, it can make reconciliation with payouts difficult. Always set up separate clearing accounts per app connection.
• Overlooking channel-specific fees: Amazon commissions, Toast processing fees, and Shopify payment fees differ. Ensure each fee type is mapped properly.
• Reconciling net vs. gross sales incorrectly: Bookkeep posts gross sales along with discounts, refunds, taxes, and fees. Ensure your mappings allow you to see both gross and net figures clearly.
• Not matching timing of payouts: Some channels (like Amazon) may pay out less frequently than others (like Shopify). Be mindful when reconciling clearing balances to bank deposits.

Best Practice Summary

• Always use channel-specific clearing accounts.
• Decide whether you want consolidated or channel-specific revenue accounts.
• Map fees separately for full visibility.
• Regularly reconcile clearing accounts to bank deposits to confirm all postings are accurate. At a minimum, we recommend once per month.

If you have any questions, feel free to contact support@bookkeep.com.