QUESTION # 1 - CONNECT USD SHOPIFY STORE TO CAD QBO
I have a Canadian QBO file, and on my online store, I sell in USD. I am trying to set up the integration between Shopify & QBO, but it is not working. How do I fix this?
Your Shopify store and your QBO file must have the same currency for the integration to work. If the currency of your Shopify store is USD, and your QBO file has multi-currency switched on with CAD as "home currency", you will not be able to sync Shopify & QBO. The reason for this (per QBO support) is that QBO won't allow you to assign a foreign currency to an income account. By default, your home currency is assigned to all the accounts on your income statement.
You may want to change the currency on your online store to CAD, to match your QBO file. Note that this may not be a viable option for most businesses, as the change in currency may have a huge negative impact on your revenues.
Alternatively, you could switch your accounting from QuickBooks Online to XERO. Xero handles the sync correctly, so if you do not mind having to change your accounting software, this is a better option.
MyStore Accounting is here to help you make the switch less painful. Get started with our Setup & Integration package.