Clearing Account Flow for Sales Channels
The Clearing Account flow in Supply’d helps you stay on top of your finances by bringing sales from all your connected channels into one place, making tracking easier & your accounting more accurate.
Supply’d is your bridge between sales channels (like Square, Shopify, WooCommerce) and your accounting software (Xero, MYOB, QuickBooks). We funnel your sales data into dedicated clearing accounts - making reconciliation a breeze.
How It Works (The Flow)
Sales Happen: Orders come in via Shopify, Square, etc., using all sorts of payment methods.
Supply’d Does Its Thing: We capture those sales and log them in the right clearing account in your accounting software.
Payouts Arrive: Stripe, PayPal, Afterpay, etc. send payouts to your bank. These get matched up with the clearing account (minus merchant fees).
Merchant Fees: You create bills for merchant fees and reconcile them against the clearing account.
Balancing Act: If you’ve got cash or gift card payments, transfer those funds manually to the clearing account to keep everything tidy.
Why You’ll Love This
Crystal-Clear Revenue: See gross sales, net payouts, and deductions per channel - no more guesswork.
Easy Reconciliation: All payment types, one place.
Spot Missing Money: Instantly notice if something’s gone astray.
Audit-Ready: Track every dollar from sale to bank.
Stay in Control: Fewer manual errors, faster balancing.
What You Need First
One Clearing Account Per Channel: Set up a dedicated clearing account for each sales channel (eg. “Shopify Clearing”).
Separate Payment Accounts: Especially for cash/gift cards - make sure these are set up right.
Supply’d Integration: Double-check your integration so sales data lands in the right spot.
Next Steps
This is your high-level overview. For step-by-step setup and reconciliation, check your accounting software’s docs and our help centre: Supply’d Integrations Guide.
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