GST Reporting Through Blue Onion

For customers that charge Goods and Services Tax (GST) through their Shopify store, Blue Onion will automatically allocate the end-customer GST values to the gross, discount, and shipping amounts of each order. Blue Onion will also provide entries to accrue GST owed for each order to the taxing authority. Additionally, GST paid to payment processors for merchant fees will be allocated separately for reporting to the taxing authority.

To provide an example, the following order was placed through Shopify:

This same order is displayed in the Shopify Sales Over Time report with the GST allocation:

Blue Onion will then match this allocation with the resulting journal entries:

When the order is placed:

You can see that the gross, shipping, and discount values are net of the end-customer GST paid values and tie to the Sales Over Time reporting from Shopify. 

These same values are recorded for revenue recognition when the order is fulfilled:

Finally, when the cash is received, Blue Onion will record the net cash received, as well as break out the merchant fees that are related to GST: