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Reconciling Amazon and Shopify payouts with your bank: the terms you need

What Amazon or Shopify pays you is a net amount: each payment bundles the sales, refunds and fees of a period. That is why the bank movement never matches a single invoice. To reconcile it you need the detail of each settlement and to match its amount with the line on your bank statement. Without an ERP this is done by hand with spreadsheets; with Odoo and the Amazon connector, the settlement comes in on its own and gets linked to its bank line.

FlexigoTech · Editor in charge: Víctor Gómez · Updated 4 November 2026

Key facts

Module
Amazon
Versions
Odoo 17, 18, 19 and 20
Checked
in the connector's source code, version 17.0, 18.0, 19.0 and 20.0 · against the sources linked at the end
Reading time
4 min

Why the deposit does not match your invoices

You invoice order by order. Amazon, on the other hand, pays you through settlements, and it generates its settlement reports on its own: they cannot be requested or scheduled. Each report carries the period it covers, the deposit date, the total and one row per amount, with the type of charge or fee it belongs to.

Shopify Payments works in a similar way. Each payment, which Shopify calls a payout, is a transfer between your Shopify Payments balance and your bank account. It comes with its net amount and a summary that breaks down fees and gross amounts by transaction type: charges, refunds and adjustments.

Your bank shows a single deposit. Your invoicing program shows every sale of the period. In between are the fees and the refunds, and that is what you have to rebuild.

Diagram of how an Amazon settlement groups sales, refunds and fees into a single deposit
Many sales, one deposit: the settlement groups the transactions of a period, deducts charges and fees and leaves a net deposit, which is what you match with the bank. Diagram built from Amazon's documentation on settlement reports.
How to stop copy-pasting between apps (Odoo)
Video: How to stop copy-pasting between apps (Odoo)

The terms, one by one

Settlement
The document Amazon uses to group the sales, refunds and fees of a period. Amazon generates settlement reports on its own; they cannot be requested or scheduled.
Settlement period
The start and end dates each settlement covers. In Amazon's report they are settlement-start-date and settlement-end-date.
Deposit
The money that reaches your bank. In Amazon's report it comes with its date, deposit-date, and its total, total-amount.
Amount type
In Amazon's settlement report, each row says which charge or fee it is (amount-type and amount-description), and the amount sits in a single column, amount.
Payout
In Shopify Payments, the transfer between your Shopify Payments balance and your bank account, with its net amount, issue date and status.
Deposit and withdrawal
The two directions of a Shopify payout: into your bank account or back to Shopify Payments.
Payout summary
The breakdown of fees and gross amounts in a Shopify payout by transaction type: charges, refunds and adjustments.
Clearing account
An accounting pass-through account where what you invoiced and what was settled meet. In the Amazon connector it is called Amazon clearing account.
Bank reconciliation
Matching each statement line with where it came from. With a marketplace, a deposit comes from its settlement.

What the Spanish Commercial Code asks for

With spreadsheets or with software, the Spanish Commercial Code asks every business owner for orderly accounts that let you follow your operations in chronological order. It also requires you to keep your books, correspondence, documents and receipts, in order, for six years from the last entry.

Download your settlement reports and keep them with those receipts. If someone ever asks where a deposit comes from, the answer is in its settlement.

How it works with Odoo and the Amazon connector

On the Amazon account form there are three boxes for this, and all three come unticked:

  • "Enable settlement sync" imports settlements with their payments and fees. The "Amazon SP-API - Sync settlements" task runs every day, and settlements show up under Amazon › Finances › Settlements (payouts & fees).
  • "Post settlements to accounting" lets you post each settlement as a single journal entry, with the clearing account, the fees and the net deposit. It does not do it on its own: each settlement is posted by hand, with the "Post to Accounting" button on its record.
  • "Match bank deposits automatically" uses the daily "Amazon SP-API - Match settlement bank deposits" task to look for the unreconciled statement line with the same amount and currency, close to the deposit date: 5 days before or after, by default. If there are several, it picks the one that mentions Amazon; if there is still doubt, it links none.

That last step only links the bank line to its settlement and leaves a note: it neither reconciles nor posts anything for you. The guide with every setting is in Amazon settlements in Odoo, from journal entry to bank.

Amazon connector indicators form in Odoo
The Amazon connector indicators in Odoo: sales, shipments and a section for returns and refunds. Odoo screenshot with the account blurred.

How we set it up

At FlexigoTech we implement Odoo 17, 18, 19 or 20 with your channels connected, so that orders, invoices, settlements and bank live in the same place. Odoo Online does not accept third-party modules, so we work on Odoo.sh or on your own server. The Connector plan starts at €49 a month, VAT excluded. If you get paid through a gateway or a marketplace that has no connector yet, we build a small custom integration: we analyse the case for free and give you a closed price before we write any code.

Write to comercial@flexigobe.com, leave your details on our contact page or book a call.

Keep reading

How to post Amazon settlements and match them to the bank in OdooHow to turn each Amazon settlement into an Odoo journal entry with fees, sales and tax in their own accounts, and how the connector finds the payout in your bank.Shopify payouts and fees in Odoo: what the order does not tell youThe order total is not what you get paid on Shopify. Payouts, fees, disputes and reconciliation in Odoo 17, 18, 19 and 20 with the FlexigoTech connector.How to start with Odoo if you already sell on AmazonA guide for Amazon sellers who do not use Odoo yet: what changes, the order to set it up and what the connector does with orders, FBA, settlements and returns.
Checked in the connector's source code (version 17.0, 18.0, 19.0 and 20.0) and the linked sources

Sources