Retail and ecommerce in Ontario
Channel-aware bookkeeping for Ontario retailers and ecommerce businesses
Storefronts and online sellers receive net payouts after fees, refunds, reserves, gift-card activity, and sales collected across channels. The bookkeeping has to reconcile each channel’s settlement report to cash instead of recording deposits as sales.
Records
The source records this workflow expects.
- Shopify, marketplace, point-of-sale, and payment-processor settlement reports
- Gross sales, discounts, refunds, chargebacks, gift cards, and processor fees
- Inventory purchase bills, freight, duties, and supplier credits
- Bank, credit-card, merchant-reserve, and payout clearing activity
Monthly workflow
How the records move through month end.
- Collect channel settlement reports, inventory purchase records, refunds, and account activity for each sales platform.
- Build the gross-to-net payout record for each supported channel, separating sales, discounts, fees, and refunds.
- Reconcile channel clearing balances to bank deposits and flag missing payouts, chargebacks, or duplicate imports.
- Deliver channel-level monthly records and an inventory exceptions list for quantities or valuation decisions handled outside bookkeeping.
Cleanup risks
Where the record trail commonly breaks.
- Net processor deposits recorded as sales, understating both revenue and fees
- Refunds, chargebacks, gift cards, or reserves left outside the sales record
- Duplicate revenue created by importing both platform sales and bank deposits
- Inventory purchases coded inconsistently with the inventory method directed by the owner or accountant
Systems and handoffs
Supported inputs, with clear owner responsibilities.
Common supported systems
- QuickBooks Online
- Shopify reports
- Square or Lightspeed exports
- Stripe, PayPal, and marketplace settlement reports
- Bank and corporate-card feeds
Scope boundaries
- The business or its accountant supplies inventory valuation, product-tax, and marketplace-tax treatment.
- Ridge & Ledger reconciles supplied sales and payout records but does not count inventory, file returns, or determine sales-tax obligations.
Useful next steps
Review the record standard before you buy.
Ridge & Ledger records supplied information and flags gaps. Your accountant or qualified professional remains responsible for tax treatment, filings, and advice.