How to Integrate QuickBooks Online with Amazon Seller

How to Integrate QuickBooks Online with Amazon Seller

Intuit has announced a QuickBooks Amazon integration that will help small businesses (SBMs) to automate purchase categorization and reconciliation while preparing purchases on Amazon Business.

With the QuickBooks Online and Amazon integration, you can import the purchases of Amazon Business automatically. It refreshes the data quite often in a day. The data includes the purchase information such as description, cost, and fee breakdown for transactions. This way you do not need to enter data manually.

Once you connect Amazon Business with your QuickBooks Online, you can easily locate the transaction by going to the Banking tab. Then, you can select the App transactions subtab to view the details.

Benefits of QuickBooks and Amazon Seller Integration

Integration itself makes your task easy and convenient when it comes to viewing details in one place. If you are planning to connect both the platforms, you should be aware of the benefits of Amazon integration with QuickBooks Online.

  • It Handles International Currencies:

Amazon allows sellers to sell their products globally. It helps business sellers to meet the massive market. Thus, it helps to handle international currencies. However, accepting multiple currencies can make your bookkeeping complicated to handle.

QuickBooks is quite easy to accept international payments and record the transaction in multiple currencies. You can also adjust the reports so that they can reflect changes in Canadian dollars. In addition, the QuickBooks program accounts for the exchange rate automatically. This helps you to track the profits and expenses in real-time.

  • Manage Inventory

Whether you drop shipping or selling your products, QuickBooks Online is the best inventory management tool. Using this, you can create the master inventory list and sync your products across the Amazon warehouse and sales channels. In case you wish to know when you should replenish the stock then QuickBooks will help you with the automatic notification when the inventory goes low.

If you prefer to know what all products are being sold well or discontinued then QuickBooks shows you comprehensive data. QuickBooks Online also helps you to track all the damaged, lost, or defective products. This way you can track the inventory to the item.

  • Automatic Transactions

QuickBooks also help you to automate the process so that you don’t shift your focus from other details. When you issue a refund or make a sale, the transaction gets recorded automatically. This not only saves you a substantial amount of effort and time but is matchless in its accuracy.

  • Track the Performance of Store

QuickBooks easily generates your reports. This means you can monitor the cash flow efficiently so that you can build informed business decisions. QuickBooks also runs a report in which you can see the data in just one click. When you reach the goal, you may prefer to order more inventory.

These reports will help you to make good decisions for Amazon Businesses. You can also plan a budget using the data of last year or if required then create your budget from scratch. QuickBooks also provides valuable insight so that you can improve your decision and approach to marketing in a way that you can boost up your Amazon sales.

  • Calculate Your Sales Taxes

Keeping a track of your sales tax is an important task for self-employed people. QuickBooks makes it very simple for you to analyze the sales tax. It automatically prepares HST, GST, QST, and PST sales taxes. Moreover, you can enter your custom tax rate if needed. QuickBooks also lets you see the real-time reports so that you can find what you and the customer owe. The program also reminds you when you are about to meet the tax deadline.

  • Collaboration with Business Partners

Working alone for your business is not easy. Most business owners hire a large team to handle several duties. With Amazon seller central and QuickBooks integration, you can give the employees and accountant access so that they can collaborate efficiently.

In addition, QuickBooks offers customizable access. By customizing the access, you can allow only selected users to view data with proper credentials. Reports can also be shared without sending signing details.

Along with this, QuickBooks Online has powerful time tracking and payroll features. This will help you to find out how long the team members work and what the member owes for their time. You can even add employee hours and provide them the access to add their time. Also, QuickBooks allows you to use payroll features so that you can pay your employees with direct deposit. When the tax season arrives, QuickBooks handles all the applicable taxes to cover your employees.

  • Cloud-Based Management

QuickBooks Online can be used as cloud-based accounting software so you do not need to worry about data. With cloud-based management, your data is totally secured. If you damage the hardware ever then you can simply sign in to the other device and get access to all the important information in just a few clicks. Since the data is saved on an offsite server of Intuit so you can access the information from anywhere.

Cloud accounts can also benefit if you want to work remotely so that you can keep up your work with the Amazon stores. All in all, you receive a lot of benefits by using Amazon and QuickBooks integration.

How to Enable QuickBooks Amazon Integration?

QuickBooks Online introduced this QuickBooks Amazon integration feature that you can enable right from your account. All you have to do is navigate through the QuickBooks settings, enable QuickBooks Amazon Integration, switch to the Banking Apps from the Banking section, and link your Amazon account with QuickBooks Online.

If you find it difficult to find the QuickBooks Amazon integration feature, we have given the step-by-step guide for your convenience.

  • Navigate through the “Gear” icon.
  • Click on the “QuickBooks Labs”.
  • Then, click on the “QuickBooks Amazon Integration” and toggle the switch from “Off” to “On”.
  • Now, go to the “Banking” menu located on the left.
  • Then, switch to the “Banking Apps” tab.
  • From here you can link the Amazon account to your QuickBooks Online.

Once you successfully connect Amazon to the QuickBooks account, you might see only a few orders. However, you do not need to worry. Your account will pull in the transaction information from Amazon to QuickBooks.

You can hover over the transactions that are imported from your connected Amazon account so that you can view Order details. In these details, you can recognize how many orders have been attached. If needed, you can split the transaction by Order items.

When you split in your QuickBooks Self-Employed, your transaction defaults to a split by order items, with the sales tax and shipping for the order allocated in proportion across the items. You can also check the box to split out the shipping and sales tax as separate expense lines.

Note: The sync to Amazon service does not work continuously. Thus, you will need to navigate through the Banking Apps tab after purchases in order to sync the information.

How to Connect Amazon Business Account with QuickBooks Online?

QuickBooks provides numerous apps in its store that will help you to connect Amazon Business accounts with QuickBooks Online to keep the books updated. Amazon Business Purchase app is one of the best QuickBooks Online and Amazon integration apps. It shows the Amazon Business purchase details in your QuickBooks account with all the relevant details. Also, QuickBooks can categorize and link the details to your credit card or bank records. All you need to review the work and approve it.

Note: Amazon Business Purchase app can work with Amazon Business Accounts only. The app cannot work with Amazon seller accounts or personal Amazon to QuickBooks.

To connect the Amazon Business account with Amazon Business Purchases app, you need to set up the account and then review the Amazon Business purchases.

Step 1: Connect the Account

Before connecting the Amazon account, you need to make sure that you are both company admin or primary admin for the QuickBooks company and primary administrator for your Amazon Business account.
Do the following to connect your accounts:

  • Log in to the “QuickBooks” account with admin rights.
  • Now, click on the “Amazon Business Purchases app” page.
  • Click on the “Get app now”.
  • If prompted then you can log in to the “Amazon Business account”. Make sure you login as a primary administrator.
  • Choose the import start date.

Note: The date will be synced with your QuickBooks account for review for all the Amazon Business purchases that you have made on or after.

  • Click the “Finish” button.

Once you do so, the app starts importing the Amazon Business purchases to your QuickBooks account. In case there is a lot of data to be imported then you may not find all of them instantly. It may take time. However, the app will keep on importing until it shows all the data.

After the import job is done, the app starts checking your Amazon Business account at least 4 times a day. Then, it brings up the most recent transaction in your QuickBooks.

Note: Presently, it is not workable for your app to update your QuickBooks account more frequently.

Step 2: Review the Amazon Business Purchases

As you find the Amazon Business purchases in your QuickBooks account, you can easily review and add them to the books for the record.

  • Click on the “Banking” option.
  • Then, choose the “App transactions” option.
  • Switch to the “For Review” tab. Doing so, the Amazon Business returns and purchases will display in the list along with the details such as quantity, product description, fee breakdowns, and purchase price.
  • Now, choose the action you can take for each transaction. This depends on the status:
    • Match or Add: This purchase is prepared to add to the books. If your QuickBooks is connected to your credit card or bank account (you have made your purchase with), you can here match it to the specific transitions that are already there in your books.
    • Review: QuickBooks does not recognize the credit card or bank account that you use for purchases. However, you can confirm if the account exists already in QuickBooks. Alternatively, you can join a new account to the Chart of Accounts.

How to Tackle Returns?

Just like the purchases, the Amazon Business returns move to the QuickBooks account so that you can review them and add them to the books. All you need to make sure that the returns have the same category as the original purchase. This keeps your accounting correct.

How to Add or Confirm Account for the Payment Method?

When your app imports the Amazon Business purchases, it shows information about the method of payment you use. Later, QuickBooks uses this information to locate your credit card or bank account that you have set up in the Chart of Accounts.

This process helps you to register expenses in the correct account and keep your books maintained. In case you have connected a credit card or bank account to QuickBooks then it will match the purchases to the selected transactions that downloaded from the bank.

The payment methods in the import for the very first time. QuickBooks may prompt you to confirm if you have found the correct credit card or bank account. In case it fails to find the right account then you can simply the new one.

Here are the steps for that:

  • Go to the “App transactions” tab.
  • Click on the “Confirm accounts” that you see in the message.
  • Now, choose the account for the payment method. You can use the drop-down menu to find the account if it exists already. If not, then you can create a new account in your QuickBooks.
  • To create a new account, hit the “Add New” button.
  • Enter the required details.
  • For a debit card, click on the “Bank Account Type” and choose “Checking Detail Type”.
  • For a credit card, click on the “Credit Card Account Type” option then select “Credit Card Detail Type”.
  • Add the name and description of your account.
  • Hit the “Save and Close” button.

Now onwards, QuickBooks will use a credit card and bank account for the linked payment method. But, if you prefer to change your QuickBooks account that is linked with a payment method then you can do the following:

  • Click on the “Banking” menu.
  • Click on the “App transactions” tab.
  • Then, choose the “App settings” located on the top right above the transactions list.
  • Click on the “Account” option.
  • Choose the pencil icon to edit the payment method.
  • Then, click on another existing account or create the new one.
  • Hit the “Save & Close”.

This is how you can link your account to the payment method. Or, if you don’t have any then create a new one.

Things to Remember About Amazon and QuickBooks Online Integration

  • If you want to view the Amazon order information then you need to connect to the account that you use to buy items on Amazon. In case you are not connected to your account then you will be unable to match the transaction.
  • If you are using two payment methods for Amazon then you will only see the items purchased with the method that is connected to your QuickBooks Self-Employed.
  • Items that you buy with a promotional credit or gift card will not display in your account.
  • Even if you choose to disable the Amazon integration, your work remains the same after saving the split transaction.
  • New transactions will not be created. The existing transactions that import from the credit card or bank are matched to the Amazon orders and the information or orders are added to them.

To Sum Up

Amazon and QuickBooks Online integration save time on manual data entry. It helps all the business owners to categorize and understand the business expenses without having the need to switch between QuickBooks and Amazon repeatedly to match up the purchases. A

long with this, you can get better insights that help you to know where your expenses come from and how your business is going.

Learn more about QuickBooks integration and see what all platforms can be connected to boost your business.

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Frequently Asked Questions

Q. Does Amazon Integrate with QuickBooks Online?

Ans. Yes. You can seamlessly integrate Amazon with your QuickBooks Online. With the Amazon FBA QuickBooks integration, you can import the order details from Amazon to QuickBooks.

Q. How Can I Integrate Amazon with QuickBooks?

Ans. All you have to do is navigate through the QuickBooks settings, enable QuickBooks Amazon Integration, switch to the Banking Apps from the Banking section, and link your Amazon account with QuickBooks Online.

Q. How to Record Amazon Sales in QuickBooks Desktop?

Ans. Navigate through the Customers menu -> click the Enter Sales Receipts option -> select the payment to record the entry. In case you set up Amazon as your bank then select it otherwise use the Undeposited Funds Account in order to record the entry.

Q. How to Track My Amazon Inventory?

Ans. Visit the Amazon seller portal then click on inventory -> select Manage FBA Shipment from the drop-down menu. From there you can easily track your shipments to FBA.

Q. How to Import Amazon Order into My QuickBooks Account?

Ans. Firstly, make sure that you are logged in to your QuickBooks account as an administrator. Then, go to the Amazon Business Purchases app -> choose the Get app now -> login to Amazon Business account with admin right -> choose the import start date -> click Finish.

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