How Klavena Ensures Accurate Accounting and Reconciliation

What Klavena Does

Once connected, Klavena:

• Imports sales, fees, refunds, promotions, and taxes from your sales channels
  
• Posts each marketplace payout as a bank deposit, line-itemed to match your financials
  
• Categorizes income and expenses with clean, reliable account mapping
  
• Tracks sales tax payable and clearing account balances on your Balance Sheet
  
• (Optional) Enables inventory tracking and cost of goods sold (COGS) calculations
  

Account Categories We Use

To give you clear, organized reports in QuickBooks, Klavena uses the following structure:

Income Accounts

• Product Sales – The actual value of items sold
  
• Shipping Income – What your customer paid for shipping
  
• Promotion Discounts – Any promotional discounts or coupons applied
  
• Other Income – Everything else, such as gift wrap fees or tips
  

Expense Accounts

• Commission – Marketplace or platform fees (e.g. Amazon, Etsy)
  
• Fulfillment – Third-party logistics (3PL) costs like pick, pack, and ship
  
• Storage – Charges for warehouse or FBA storage
  
• Advertising – Sponsored product ads or off-site ad spend
  
• Miscellaneous – Any uncategorized or miscellaneous deductions
  

Balance Sheet Tracking

Klavena also helps you maintain a clean, transparent Balance Sheet by:

• Creating a clearing account for each marketplace (e.g. “Shopify Balance”) to track pending payouts
  
• Recording Sales Tax Payable as a current liability, based on what you collect and remit (e.g. "Shopify Sales Tax Payable")
  
• (If enabled) Tracking Inventory Asset values to support COGS accounting
  

🔍 How to Confirm Accuracy

Here’s how to verify Klavena is working correctly:

• Reconcile Payouts
  • Each deposit created by Klavena should match your actual bank payouts
    
  • In QuickBooks, link the imported deposit to your bank feed record
    
• Review Clearing Accounts
  
  • These should show temporary balances for pending funds
    
  • As payouts are made, the balance in each account should reduce to $0
    
• Run a Profit & Loss Report
  
  • Income and expense categories are clearly separated
    
  • If you use QuickBooks Online Plus or Advanced, you can run a Profit & Loss by Class to view performance by channel. Otherwise, you can run a Profit & Loss to view the performance in aggregate.
    
• Enable COGS and Inventory (Optional)
  
  • If inventory tracking is turned on, Klavena ensures QuickBooks records COGS only when items are sold, not when purchased
    
  • Your Profit = Revenue – COGS – Expenses, just as it should be
    

🧠 Summary

Klavena takes the guesswork out of ecommerce bookkeeping by:

• Categorizing income and expenses with precision
  
• Automating reconciliation of payouts to your bank
  
• Maintaining up-to-date clearing accounts and tax liabilities
  
• Optionally enabling real inventory-based COGS tracking