Shopify Payouts

Xoro has introduced a new feature, Payouts Syncing, which automatically creates Bank Deposits in Xoro for Shopify Payouts, eliminating the need for manual entry.

Shopify Payouts is the money transferred from a Shopify Payments account to a connected bank account of a Shopify user. This is money made on sales on Shopify. Shopify pays this amount to the user after deducting service charges. It’s worth noting that Shopify Payouts work on an automatic cycle (e.g. daily, weekly or monthly).

Until now, you had to manually create Bank Deposits for Shopify Payouts. This is a tedious and time-taking process. For instance, if you have 500 transactions, recording them manually in the system can take hours. Well, not anymore!

** Shopify Payouts include Deposits or Invoice payments, Refunds, Chargebacks, Transaction fees and Disputes.

Shopify Payouts Syncing Settings

To activate Payout Syncing, follow these steps:

Enable Payout Syncing: Enabling this will sync the Shopify payouts to Xoro. Payment(s) from the “Undeposited Funds” account will be deposited to the selected Bank account. This option is available under "Data export settings".

After enabling this checkbox, you have to enter the following details:

Payout Gateway: Select the service through which payments are transferred to your account. For now, Xoro only supports Shopify Payments.

Start Date: Select the date from which you want to sync the Shopify Payouts. This date should match the integration date of the payout.

Bank Account: Select the Bank Account in which you want to receive Shopify Payouts.

Fee/Adjustment Account: Specify the account in which you want to receive the transaction fee or adjustment charges (order refunds or chargebacks).

Dispute Account: Choose the account in which you want to receive the disputed settlements in Xoro.

Payouts Syncing Workflow

• When an auto-sync runs for order-dropping to Xoro if Payouts are available, then Payouts are fetched and made into Bank Deposits.

• If there is an error and some transactions are missing, then the details will be re-fetched from the Payouts data and transactions will be automatically synced. Orders/Invoices will be re-dropped into the system, along with the Deposits/Invoice Payments (if missing).

• After this, Payouts will be synced and a Bank deposit will be created in the system.

Important Note: Bank Deposit won’t be created for the transactions already recorded manually in the system. This means that if you have already created a Bank Deposit manually for a transaction, it will not be used while creating Bank Deposit through the auto-sync process.

• To review created deposits, visit the Bank Deposit Centre in Xoro. Here, you will find two columns to help you verify auto-created bank deposits:

  • Third-Party Ref No: This is the Reference Number for the Payouts. This works as an Identifier for Bank Deposits. So, you can use this number to search and identify the deposits created.

  • Third-Party Source: This is the link to check the source of the Bank Deposit.

*These Deposits are created by Xoro ID.

Payouts Syncing Errors

For common errors that can occur while syncing payouts, please refer to the table below:

Error	Solution
Transaction(s) not available for the following order(s):Transaction(s) not available for the following order(s): ID1 ID2 ID3 ID4 ID5 ID6 Please wait, the missing transaction(s) will take few minute(s) to sync.Note: If the payout does not sync after few minutes, either the transaction(s) are already used in another bank deposit or they are taking long time to import.	You can get this error if the Bank Deposit has already been created manually. If you want to auto-create the Bank Deposit using the Payout auto-sync, please void the manually created deposits. You can also see this error in the ‘Payouts’ tab if transactions are missing. Please wait for the sync to re-fetch the data.