E-commerce

Shopify, Stripe, PayPal and WooCommerce accounting for Canadian sellers: payouts, fees, sales tax and inventory.

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Online sales reach your bank as net payouts, after fees, refunds and sales tax. Start with how to record a payout correctly.

E-commerce

Shopify Accounting in Canada

How Canadian Shopify sellers should record sales, payouts, fees, refunds and GST/HST, with a clearing account and a worked Ontario payout example.

7 min readUpdated Sep 29, 2026
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Key topics

Sales versus payouts

Why a payout is a bank deposit, not your revenue figure.

Fees, refunds and chargebacks

Recording what the platform keeps and what you give back.

Sales tax on online sales

GST/HST collected is a liability, whatever the platform calculates.

Read: How GST/HST Works for Small Businesses in Canada

Inventory and COGS

Tracking the cost of the products you sell.

Guides in this topic

Tools and resources

GST/HST Calculator

Add or remove GST, HST, PST or QST for any province.

COGS Calculator

Cost of goods sold from opening stock, purchases and closing stock.

Profit Margin Calculator

Gross profit, margin and markup from cost and price.

Free resources

Related topics

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