For eCommerce & ERP integrated businesses, managing, recording & reconciling Shopify payments in dynamics GP is an essential part of financial reporting. Customers are making payments using different cards in the Shopify platform. It is important to correctly map those payments to respective methods in Dynamics GP to avoid discrepancies in financial reporting.

Importance of Payment Mappings:

When correct mappings are defined for data between two platforms then the payments made through Shopify are automatically recorded in Dynamics GP. Not only recorded but goes to accurate accounts attached to the respective payment methods. This allows businesses to track revenue on the basis of different dimensions.  It will be easy to reconcile updated and accurate records and do financial reporting.

Another important aspect of recording and reconciling Shopify payments in Dynamics GP is maintaining financial transactions for each order. Businesses can make more informed decisions about their operations with a centralized database and financial records. Moreover, if any discrepancy arises due to incorrect mapping then its easy to track payments and take corrective actions

Payment Handling in x2x Dynamics GP & Shopify Integration:

x2x eCommerce & ERP Integration for Dynamics GP and Shopify is an end-to-end solution and covers every aspect of Integration. x2x understands that businesses streamline their financial processes by automating payment recording and reconciliation. It saves time and minimize the risk of errors associated with manual data entry. As a result, businesses focus  more on important tasks, such as growth planning & better serving to customers.

Payment Method Creation in x2x Integration:

First step is to create frequently used Shopify methods to Dynamics GP with ease and simplicity. In case if any method left to create or a new method comes in then integration notify about the issue with payment mapping and user then create and map it accordingly.

Payment Method Mapping in x2x Integration:

After the creation of Payment Methods, the next step is to map them properly to the respective GP methods. This ensures the correct information availability to correct accounts.

Overall, recording and reconciling Shopify payments in Dynamics GP is a critical part of financial reporting for an ERP &  e-commerce integrated business. Improve financial reporting, maintain complete financial transactions records, identify and resolve payment discrepancies, and streamlining financial processes with the power of integration. The benefits are not limited to financial health only but also increases  efficiency, profitability, and performance.

Therefore, having both Dynamics GP and Shopify should consider integrating the two systems with x2x Integration solution and achieve long-term success.

The post Recording and Reconciling Shopify Payments in Dynamics GP for accurate Financial Reporting appeared first on ERP Software Blog.

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