E-commerce platforms contain a lot of helpful information for financial reports. Each E-commerce connection (or store) within an integration can be configured to suit a business's accounting needs.
Here are the things you can manage in a store's configuration
Orders - How orders are imported, as well as some general configuration
Taxes - Taxes can be mapped to line items/accounts
Fees - Fees can be mapped to specific items/accounts
Payments - Configure which account should payments go into when imported
Payouts - Configure which account payouts from gateways go into
Discounts - Mange how discounts are recorded
Tips - Manage how tips are recorded
Shipping - Configure the line item/account to use for shipping
Refunds - Manage how refunds are handled
Products - Configure how products are handled during import
Customers - Manage how customers are handled during import
Schedule - Configure automated import
The options available may differ based on the integration and the accounting software used
General Concepts
While each section in the store configuration has its guide, some general concepts are worth being aware of
Line Item Mapping
Each order has line items within them that can be mapped. Orders coming from an e-commerce source will have taxes, fees, shipping, etc. In WeOS, you can configure how these miscellaneous items are imported into your accounting software. Since these items are imported as line items to the order, they need to be mapped to (non-inventory) products that can be associated with an account.
In your accounting software, you can create a "Default Line Item" non-inventory product and use it to configure default mappings.
Account mapping
For items that are not associated with an order, an account mapping is done. With account mapping, you can select an account from the general ledger of your accounting software.
Since the chart of accounts can be large, you can use autocomplete to find the account you're looking for
Undeposited Funds
Typically if a customer pays for an order using a credit card, the funds are not immediately remitted to the business account. Instead a payout to the business is made at some future date. While waiting for that payment to remitted, the payment should be recorded in the "Undeposited Funds" account and the amount will be automatically be transferred to the business account when a deposit is imported. In the configuration there is an opportunity to map the undeposited funds account to use.
The payout deposit should be mapped to the actual business account and NOT undeposited funds