Month-End Close Checklist for Shopify Stores Running Sage 50

Your month ends on the 30th (or 28th, or 31st). But the financial close doesn't end there. Your accounting team has 3–5 days to verify that everything from Shopify made it into Sage 50 correctly, that payouts reconcile to the bank, that inventory is accurate, and that taxes are right.

For businesses that manually enter Shopify orders into Sage 50, month-end close can consume an entire week. For businesses using integration software like Sagify, it's tighter — but you still need a structured checklist to avoid missing something expensive.

This post is that checklist. Use it for every month-end. Make a copy and assign tasks. Track completion. After three months, the process becomes routine.

In this post:

Pre-close: Last 2 business days of the month
Close day: Month-end date
Post-close: First 5 business days of next month
FAQ

Month-end close checklist for Shopify stores

Pre-Close: Last 2 Business Days of the Month

Day 1 (Usually the 27th or 28th)

Run Final Shopify Order Import

If you use Sagify:

Open Sagify
Set date range from the last import through the final day of the month
Click "Process" to import any remaining orders
Review the summary report — check for any failed orders
If orders failed, investigate and re-run for the failed batch

If you import manually:

Export final orders from Shopify admin
Enter any remaining orders into Sage 50
Verify customer and SKU accuracy

Verify Customer Records in Sage 50

Look for duplicate customers created during the month (e.g., "John Smith" and "J. Smith")
Merge duplicates if necessary
Check for customer records with missing address data
Note: If you use Sagify, this is usually not an issue because matching is deterministic

Take Inventory Snapshot

For the last time this month:

Run your inventory sync (if using Sagify Inventory Sync)
Compare Shopify quantities to Sage 50 quantities
Note any variances >5%
Investigate high-variance SKUs (especially best-sellers where errors compound)

Check Refunds and Returns

Export the refunds report from Shopify for the month
Verify that each refund shows as a credit note in Sage 50
Check refund dates — they should be in the month the refund was issued, not the original sale
Look for any refunds that don't have a corresponding credit note (orphaned refunds)

Day 2 (Usually the 29th or 30th)

Reconcile Shopify Payouts

This is the biggest piece:

Export the payouts report from Shopify for the month
Confirm payout total = bank deposits received in the month
In Sage 50, open the bank reconciliation for the month
For each payout:
- Locate the corresponding bank deposit
- Verify the gross sales amount (before fees)
- Verify the fee amount
- Verify any refunds subtracted
- Verify any chargebacks or disputes handled
Complete the bank reconciliation for the month

If you use Sagify Payout Reconciliation:

Open Sagify
Run payout reconciliation for the month
Review the posting summary
Verify that the bank line reconciles to zero

Verify Tax Calculations

Pull the tax summary from Shopify for the month
Compare total tax collected to Sage 50 tax accounts
Look for rounding differences (1–2¢ is normal across hundreds of orders; >$5 is a problem)
If you track taxes by jurisdiction, verify that each state/province matches
Note: If you're nearing sales tax filing deadlines, do this check 3–5 days earlier

Review Discounts and Coupons

Export the discount/coupon report from Shopify
Verify the discount amounts are posted to the correct contra-revenue or discount account in Sage 50
Look for any promotional discounts that shouldn't have been applied

Check Credit Card Processing Fees

Shopify charges transaction fees on every order
Export the transactions report from Shopify
Verify that monthly fees are posted to a merchant fees or processing expense account in Sage 50
Check for any unusual spikes (indicating chargebacks, refunds, or disputes)

Close Day: Month-End Date

Final Bank Reconciliation

Complete the bank reconciliation in Sage 50 for the last day of the month
Every line should clear except items still in transit
If anything doesn't reconcile, investigate immediately (don't move on)
Document any items in transit and when you expect them to clear

Generate Trial Balance

Print or export the trial balance from Sage 50 as of month-end
Total debits should equal total credits (should be automatic, but verify)
Flag any accounts with unusual balances (e.g., a 10x normal month in a single account)
Save the trial balance for audit purposes

Verify Accounts Receivable

Run the A/R aging report from Sage 50
If you invoice customers for orders, check for old unpaid invoices
Investigate any invoices >30 days overdue
Note: Most Shopify orders are cash/credit card, so A/R should be small

Check Accounts Payable

Run the A/P aging report from Sage 50
Verify all bills entered during the month are there
Check for any bills pending from vendors (especially suppliers of inventory)
Schedule payments if needed before your first business day of next month

Post Month-End Adjustments

Common adjustments for Shopify/Sage 50 businesses:

Write down obsolete inventory
Reserve for returns (if your return rate is >5% of monthly sales)
Accrue any pending refunds not yet processed
Adjust for any known timing differences between Shopify settlement and bank deposit

Close Revenue and Expense Accounts

If you use monthly closes (rather than quarterly/annual):

Post closing journal entries to roll revenue and expenses into retained earnings
Verify that net income matches your P&L report
Lock the month so no further entries can be posted

Pre-close verification steps

Post-Close: First 5 Business Days of Next Month

Day 1 of New Month: Account for Transactions in Transit

Check for any Shopify orders from the final days of the closed month that cleared the bank in the new month
Post any necessary reversals or reclassifications
Verify that inventory and account balances rolled forward correctly

Days 2–3: Variance Investigation

If any variances were flagged:

Inventory variances >5%: Check physical count, investigate SKU entry errors, look for damaged goods
Unreconciled bank items: Contact your bank, check for timing delays
Tax mismatches: Review Shopify tax logs vs. Sage 50 postings
Large account balances: Verify these are accurate (especially clearing accounts)

Day 4: Generate Monthly P&L and Balance Sheet

Run profit & loss statement for the closed month
Compare to the prior year and budget (if you have one)
Investigate any variances >10%
Share P&L with ownership/management
Run balance sheet as of month-end
Verify that key metrics are reasonable (inventory, A/R, bank balance)

Day 5: Backup and Archive

Back up your Sage 50 company file
Archive any supporting documents (payout reports, reconciliation sheets, bank statements)
If you use cloud storage, ensure backups are synced
Verify that your backup is restorable (test restore from backup once per quarter)

Update Cash Flow Forecast (If You Track One)

Update your 90-day cash forecast with actual numbers from the month
Identify any variances from forecast
Alert management if cash position is tighter than expected

FAQ

How long should month-end close take for a Shopify store on Sage 50?

With automation (Sagify), it should take 4–8 hours over 3 days. Most of that is verification and reconciliation, not data entry. Without automation, expect 16–24 hours (over 3–5 days) for a store processing 200+ orders per month.

What if an order from yesterday doesn't show in Sage 50 yet?

This can happen with manual entry if the bookkeeper is behind. With Sagify, orders sync in seconds/minutes. Check:

Did the order clear payment in Shopify? (Pending orders don't import)
Did the import run today? (Import runs are manual unless scheduled)
Is the date range correct? (Sagify only imports orders within the selected date range)

What if I find a duplicate invoice?

This shouldn't happen with Sagify (which prevents duplicates), but if you find one:

Delete the duplicate in Sage 50
Verify that the correct invoice is still there
Check the invoice number sequence for any other gaps
If using manual entry, add a "duplicate prevention" checklist to your pre-close workflow

What if payouts don't reconcile?

Common causes:

Timing: Shopify settlement date vs. bank receipt date (usually 1–2 days difference)
Chargebacks: Did you account for chargebacks separately?
Fees: Are processing fees posted to the correct account?
Refunds: Are partial refunds subtracted from the payout?
Currency: If multi-currency, did you apply the correct exchange rate?

Investigate each line item. Don't move on until it reconciles.

What if I'm behind on month-end and orders are still coming in?

You have two options:

Cutoff: Close the books with orders through the month-end date, then post next-month orders in the new period
Rolling close: Wait until all orders have cleared (usually 2–3 days into the new month), then close

Most businesses choose #1 for timeliness. Use option #2 if your cutoff process is loose.

Should I reconcile Shopify payouts if I use a different payment gateway?

If you use a non-Shopify gateway (PayPal, Stripe, Square), the same logic applies, but the payout structure may be different:

Shopify Payments: Deposits are batched by settlement period
PayPal/Afterpay: Each has its own settlement schedule
Stripe: Similar to Shopify, but reconciles directly to Stripe account, not bank deposit

Get the reconciliation report from your payment processor and follow the same pattern.

What if I don't close the books monthly?

If you close quarterly or annually:

Do the pre-close checks monthly (run imports, verify taxes, check inventory)
Skip the formal close entries
Do the full close process (trial balance, close entries, P&L, backup) at quarter-end or year-end

Monthly pre-close verification saves time at the full close.

Spending more than 8 hours per month on close procedures? Book a free demo to see how Sagify automation could cut that time in half.

Post-close reconciliation tasks

How to Import Shopify Orders into Sage 50 - Order import methods and timing
How to Reconcile Shopify Payouts in Sage 50 - Detailed payout reconciliation guide
How to Sync Sage 50 and Shopify Inventory - Inventory verification during close
Shopify Bookkeeping Best Practices for Sage 50 Users - Full best-practices guide
Common Sage 50 Shopify Integration Issues - Troubleshooting guide
Shopify Sage 50 Integration: The Complete Guide - How automation shrinks the close
How to Import Shopify Orders into Sage 50 - Import workflow that keeps close clean