Does this sound familiar?

You're a virtual bookkeeper and...

  • You've got your bookkeeping basics down, but are struggling with the next step of finding quality clients who value what you do for them.  

  • You're ready to pivot away from a stagnant niche, and looking for a specialty that truly interests you AND makes you stand out from the crowd. 

  • You know there's a massive opportunity in working with e-commerce clients and are afraid of missing the boat because you don't possess the essential skills to take it on (or don't even know what is involved).

  • You may be starting to get e-commerce or Shopify clients and aren't trained to handle the unique challenges that this type of bookkeeping presents.

  • You know you need the essential building blocks that will set you up for Shopify bookkeeping success, and not just surface-level tips and tricks found on the internet. 

Or, you're a Shopify seller and...

  • You're afraid of making a big mess, or doing something wrong because you don't even know what it is that you should know.

  • You have a great grasp of bookkeeping fundamentals - but you've noticed that Shopify bookkeeping is another beast.

  • You've discovered that the integrations you were using to make your life easier just made your books even messier and created more work.

  • You've become frustrated trying to figure out how to record PayPal transactions.

  • You've tried to research how to do your own Shopify bookkeeping and started uncovering articles mentioning complicated terms like "sales tax nexus," "COGS," and, "multiple payment processors." Now you just want to throw up your hands in resignation. 

  • Maybe all this frustration led you to put off your bookkeeping for a week, which turned into a month, which became a quarter of a year...

  • Perhaps you never even started your Shopify bookkeeping because you didn't know where to start.

  • Your books are a mess and you need a step-by-step guide to walk you through the process of handling your Shopify bookkeeping the right way.

What if you could tame your fears and reservations about e-commerce accounting.

What if you were empowered with the knowledge and tools to successfully take on Shopify, one of the most complex types of e-commerce bookkeeping, in a matter of months, not years?

As a virtual bookkeeper, what if you could...

  • Confidently provide the e-commerce accounting support that so many premium clients desire.

  • Finally navigate the complexities of clearing accounts, integrations, inventory, PayPal, multiple payment processors, and even US sales tax, like the pro you are.

  • Implement a proven system and workflow to take on Shopify bookkeeping from start to finish.

  • Boldly step into a niche that will differentiate you from all the competition.

  • Enjoy working with premium clients who are tech-savvy, online-based, engaged with their financials, growth driven, and value working with experts.

  • Experience the freedom and flexibility of working from home. (Yes, you could finally be 100% virtual!)

  • Count on the support of a community of fellow learners and Veronica Wasek herself, in a private Facebook group.


    • As a Shopify seller, what if you could...

  • Finally have the confidence to set up your Shopify books and integrations correctly.

  • See the words: integrations, inventory, PayPal, multiple payment processors, and sales taxes and say, "I can do that!"

  • Save valuable time on your bookkeeping, just like you always wanted, because you have a proven workflow to follow.

  • Take on your monthly bookkeeping with peace of mind, knowing that you have the resources to help you through any hiccups.

  • Experience having meaningful financials to help you make better decisions and grow your business.
    •

    Why is the Shopify Bookkeeping Method different?

    There truly is a wealth of information online, but trying to piece together your own Shopify Bookkeeping training will just bring more frustration than what you start with.

  • You can watch all the YouTube videos and read all the articles in the world, but won't find the comprehensive, step-by-step training and support that you'll get from this course.

  • This course offers you a proven workflow and best practices for Shopify bookkeeping along with all the essential knowledge and guidance needed to accelerate your journey and save you valuable time.

    • Through this course, you'll gain:

    • A solid foundation to take on Shopify bookkeeping like a pro.

    • A deep understanding of all the essential aspects of Shopify bookkeeping.

    • Insights on a proven workflow for integrating QuickBooks Online and Shopify.

    • Fundamental knowledge for virtual bookkeepers to master the growing niche of Shopify bookkeeping.

    • Guidance on what exactly it takes for Shopify sellers to properly set up and manage their own financials.

    This course includes:

    • All the video lessons and handouts

      Over 60 videos where I walk you through e-commerce basics, Shopify bookkeeping best practices, bookkeeping set up, monthly bookkeeping workflows, working with PayPal, inventory, Cost of Goods Sold, and US sales tax.

    • Shopify chart of accounts

      Along with a spreadsheet of a Shopify seller chart of accounts, you'll get a walk-thru to show you which accounts to add and remove for successful Shopify accounting. You'll even discover the ins and outs of using clearing accounts.

    • Shopify bookkeeping setup checklist

      This essential checklist works for both bookkeepers and Shopify sellers to ensure they cover all the steps for setting up Shopify books.

    • A2X Setup checklist

      A checklist to ensure that you've covered all the set up steps for setting up A2X the right way.

    • Monthly bookkeeping checklist

      This checklist walks you through my 5-step bookkeeping system, mapping out the exact workflow to follow each month for keeping the financials accurate and up to date.

    • Shopify reconciliation spreadsheet

      This spreadsheet will help you track and reconcile income and payment processor deposits between Shopify and QuickBooks Online to make sure your books are squeaky clean.

    • PayPal bookkeeping checklist

      Step-by-step method for recording and reconciling PayPal transactions. This checklist provides two PayPal bookkeeping workflows to choose from - a simpler method for low-volume sellers, and a more in-depth method for high-volume sellers.

    • Inventory tracking spreadsheet

      This spreadsheet provides a useful template that can be used for inventory tracking as an alternative to using an outside app. It covers product cost, purchase order tracking, vendor advances, and ending inventory.

    • Membership in a private student Facebook group

      A membership for 1 full year, where you can interact with other course students, and ask questions directly to the course creator, Veronica Wasek.

    And these additional resources specifically for bookkeepers:

    • Shopify client onboarding checklist

      Bookkeepers will find this checklist has all the 'should-dos' they need for stress-free onboarding of their new Shopify clients - so they don't skip a beat with getting their client's Shopify bookkeeping services up and running.

    • Sample engagement letter for Shopify bookkeeping

      To save you time, this customizable sample Shopify bookkeeping engagement letter will give bookkeepers a head start to start their bookkeeping services off the right way.

    • Sample e-commerce pricing spreadsheet

      Pricing your Shopify bookkeeping services can be simplified with this spreadsheet template to serve as an aid in determining how much to charge.

    Earn a Certificate of Completion

    • Once you have worked through all the course content, you will earn a certificate of completion to denote your accomplishment!

    What students are saying about this and other 5MB Academy courses...




    Meet Veronica

    Hi, My name is Veronica Wasek, an entrepreneur, accountant, mentor, and educator. I am a Certified Public Accountant, Advanced QuickBooks Online ProAdvisor, and the Founder of Mavency, a successful virtual bookkeeping and consulting business serving e-commerce clients. I am also the founder of 5 Minute Bookkeeping. I've been named a Top 10 QuickBooks ProAdvisor (worldwide) and a Top Accounting Influencer.

    But before all that, I was struggling to succeed in my accounting business, after a layoff...in the middle of a recession. Yes, it was stressful but I knew I had to find systems and better ways of working to optimize my time while creating huge value for my clients. Now, I'm sharing those systems with you, so you can cut out years of trial and error and make a giant leap forward in your business.

    My goal is to help virtual bookkeepers and online sellers become confident business owners. As much as I love accounting and technology, I love teaching even more. I'm excited to share my knowledge and experience with you, so you can build a thriving business without the guesswork.
    Veronica Wasek

    Not sure if the Shopify Bookkeeping Method is right for you?

    • If you want Shopify bookkeeping to be on your list of skills - not your list of fears, then this method has the right tools and guidance to get you there.

    • If you are ready to move confidently into the world of Shopify bookkeeping, this course will give you the fundamental knowledge you need with workflows and checklists to put it all together.

    • If you want to tackle your own Shopify bookkeeping, this course will empower you to take it on with a proven system to guide you every step of the way.

    Course curriculum

    • 1

      WELCOME & INTRODUCTION

    • 2

      SECTION 1: E-COMMERCE BASICS AND BEST PRACTICES

      • 1-0 Section 1 - PDF of video lessons

      • 1-1 Complexities of e-commerce

      • 1-2 Bookkeeping best practices

      • 1-3 Shopify platform and tour
    • 3

      SECTION 2: SHOPIFY BOOKKEEPING SETUP

      • 2-0 Section 2 - PDF of video lessons (updated November 2022)

      • 2-1 Intro_Basis of accounting

      • 2-2 Setting up QuickBooks Online for the first time

      • 2-3A Shopify chart of accounts (updated May 2024)

      • 2-3B Shopify chart of accounts - removing accounts

      • 2-3C Shopify chart of accounts - resources walk-thru

      • 2-4 Understanding clearing accounts

      • 2-5 Items needed to work on the books

      • 2-6 Resource: Shopify bookkeeping - Quick setup checklist

      • 2-7 Resource: Account categories to add and remove from the QBO chart of accounts

      • 2-8 Resource: Shopify Seller chart of accounts

      • 2-9 Resource: Shopify client onboarding checklist (for bookkeepers)
    • 4

      SECTION 3: RECORDING SHOPIFY TRANSACTIONS IN QUICKBOOKS ONLINE USING A2X

      • 3-0 Section 3 - PDF of video lessons - Updated November 2022

      • 3-0 Section 3 - PDF of video lessons (old)

      • 3-1 Methods for recording Shopify transactions

      • 3-2 Setting up A2X

      • 3-3 A2X Accounts and Taxes (old Accounts & Taxes)

      • 3-3 A2X Accounts and Taxes (new Accounts & Taxes - updated November 2022)

      • 3-4 A2X Settings

      • 3-5 Switch between accounts | Notifications in A2X

      • 3-6 Shopify settlements/Payouts in A2X

      • 3-7 Resource: A2X setup checklist

      • 3-8 Resource: A2X certification
    • 5

      SECTION 4: SHOPIFY MONTHLY BOOKKEEPING WORKFLOW

      • 4-0 Section 4 - PDF of video lessons

      • 4-1 Shopify monthly bookkeeping workflow basics

      • 4-2A Record transactions - overview

      • 4-2B A2X review

      • 4-2C QBO Banking transactions - Money in

      • 4-2D QBO Banking transactions - bank account transfers

      • 4-2E QBO Banking transactions - Money out

      • 4-2F Record Shopify monthly bill

      • 4-2G Record Payment processor fees

      • 4-2H Inventory, COGS, sales taxes

      • 4-3A Reconcile bank and credit card accounts

      • 4-3B Reconcile Shopify income and payment processor deposits

      • 4-4A Introduction to month-end review | Review banking transactions

      • 4-4B Review Clearing accounts

      • 4-4C Review and update month-end inventory balances

      • 4-4D Review the Profit & Loss and Balance Sheet

      • 4-5 Revise: Making corrections to transactions already recorded

      • 4-6 Restrict: Close the books

      • 4-7 Resource: Shopify monthly bookkeeping workflow list

      • 4-8 Resource: Shopify reconciliation worksheet
    • 6

      SECTION 5: WORKING WITH PAYPAL TRANSACTIONS

      • 5-0 Section 5 - PDF of video lessons

      • 5-1 How PayPal Works

      • 5-2 Preferred PayPal settings

      • 5-3 PayPal financial reports

      • 5-4 Connecting PayPal to QBO

      • 5-5 Using the Connect to PayPal connection

      • 5-6 PayPal workflow basics in QBO

      • 5-7 Record summarized PayPal transactions in QBO

      • 5-8 Record expenses paid via PayPal

      • 5-9 Funds held by PayPal

      • 5-10 PayPal foreign currency transactions

      • 5-11 PayPal bank account reconciliation

      • 5-12 Resource: PayPal bookkeeping checklist

      • 5-13 Resource: PayPal expense import
    • 7

      SECTION 6: INVENTORY AND COST OF GOODS SOLD

      • 6-0 Section 6 - PDF of video lessons

      • 6-1 Inventory and Cost of Goods Sold essentials

      • 6-2 Inventory and Cost of Goods Sold workflows

      • 6-3 Inventory bookkeeping workflows

      • 6-4 Inventory tracking spreadsheet

      • 6-5 Inventory journal entries

      • 6-5A Using the Shopify Inventory report

      • 6-6 A2X for recording Cost of Goods Sold

      • 6-7 Inventory management apps

      • 6-8 Inventory month-end review

      • 6-9 Resource: Shopify inventory tracking spreadsheet

      • 6-10 Resource: Simple inventory worksheet - year end
    • 8

      SECTION 7: E-COMMERCE SALES TAXES (US SALES TAXES)

      • 7-0 Section 7 - PDF of video lessons

      • 7-1 US sales tax overview

      • 7-2 Register for sales taxes

      • 7-3 Collect sales taxes

      • 7-4 Remit sales taxes

      • 7-5 Sales tax month-end review

      • 7-6 Resources
    • 9

      SECTION 8: BONUS LESSONS

      • 8-1 Shopify manual journal entry: PDF of video lesson

      • 8-1A Shopify - manual journal entry

      • 8-2 Bookkeeping for other sales channels: PDF of video lesson

      • 8-2A Bookkeeping for other sales channels

      • 8-3 Pricing tips for bookkeepers: PDF of video lesson

      • 8-3A Pricing tips for bookkeepers

      • 8-4 Resource: Sample e-commerce pricing spreadsheet for bookkeepers

      • 8-5 Resource: Sample engagement letter for bookkeepers

    Top FAQ's:

    • I'm not sure I have time to complete this course right now. How long do I have access to the course?

      Whether you choose the one-payment plan or the 3-payment plan, when you sign up you get immediate access to all lessons and you can do the lessons at your own pace.

      You have lifetime access to the course and all the material, so there's no need to worry if you need to take it slowly.

    • I'm not sure if I'm ready for this course. Do I need bookkeeping experience?

      This course doesn't teach the basics of bookkeeping or how to use QuickBooks Online. So, if you're a bookkeeper, you should have a good understanding of both before diving into this course.

      If you're new to bookkeeping, please feel free to check out my other bookkeeping resources and come back to this course when you're ready.

      If you're a seller, this course won't turn you into a bookkeeper, but will show you the essentials of doing your Shopify bookkeeping the right way.

    • My bookkeeping practice is still small. Does this course make sense for me?

      This program is a good fit for those who want to grow their bookkeeping business, take a brick & mortar business virtual, or transition out of a bookkeeper or accountant 9-5 and become your own boss.

      If you're ready to invest in yourself and create the virtual firm of your dreams, specializing in a growing niche, this course is for you.

    • Do you offer a money-back guarantee?

      Due to the massive value and resources provided in this course, we do not provide a money-back guarantee.

      If you are unsatisfied with this course, contact us in the first 30 days and we will discuss your specific circumstances and agree upon a mutually beneficial resolution.

    • I don't live in the US. Is this course only for US bookkeepers?

      We have students in the Shopify Bookkeeping Method from all over the world. Some of the content is specific to US accounting rules and to the US version of QBO, however, that is pointed out during the lessons.

    • What if I do not use QuickBooks Online? Can I apply this knowledge to Xero or another accounting software?

      The general workflows and method for doing Shopify bookkeeping can be applied to any accounting software, however this training focuses on QuickBooks Online.

    • Does this course cover Amazon bookkeeping?

      No. Shopify bookkeeping is very different from other types of e-commerce bookkeeping.

    • What's the difference between the one payment plan and the 3-payment plan?

      Regardless of the payment plan you choose, you have instant, lifetime access to the course and all the material.

    • I'm a Shopify merchant, will I be able to DIY my bookkeeping after I take this course?

      This course takes you through the step-by-step method for doing your own Shopify bookkeeping. Keep in mind that there are a lot of complexities to e-commerce accounting and that you may still need the help of a professional e-commerce bookkeeper.

    Pricing options

    You will receive instant access to all course lessons.