LedgerMatch
Bank Reconciliation Software for Retail Stores & Boutiques
Retail bookkeeping combines the high transaction volume of a restaurant with the complex vendor payment cycles of a wholesale business. Daily POS deposits from Square, Shopify, or Clover need to match the day's sales in QuickBooks, while weekly vendor invoices from suppliers need to match the corresponding payment in the bank statement. LedgerMatch handles both sides of retail reconciliation — matching every POS deposit and vendor payment against your QuickBooks or Xero ledger in under 10 minutes.
Common reconciliation challenges for retail businesses
- Daily POS deposits from Shopify Payments, Square, or Clover net processing fees — the deposit never matches the gross sales total in QuickBooks
- Merchandise returns create credits that appear separately in the bank statement and must be matched against return entries in QuickBooks
- Inventory vendor payments — credit card charges, ACH debits, and wire transfers — post with descriptions that often don't match the vendor name in the ledger
How LedgerMatch helps
- Tolerance matching handles POS net deposits — flag the processing fee difference in the exception queue with a note for clean gross vs net tracking
- Credit matching catches return credits and refunds in the bank statement and matches them against return entries in QuickBooks
- 97% auto-match rate means retail bookkeepers close month-end in under an hour instead of half a day
Industry note
Retail stores must reconcile sales tax collected to the state sales tax liability account monthly, and LedgerMatch's exception queue flags any deposit without a matching ledger entry — including sales tax clearing entries — so nothing is missed at month-end.
Common banking and accounting tools
- Chase
- Bank of America
- Wells Fargo
- Square Banking
- Shopify Balance
- QuickBooks Online
- Xero
- Shopify
- Lightspeed
Explore related resources
Install LedgerMatch
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