Amazon FBA in QB

Hello, @Who_Dat.

I can assist you in integrating gross sales, returns, COGS expenses, and Chase account income into your QB Desktop/Online.

You can connect your Amazon Business account to QuickBooks with the Amazon Business Purchases app. It brings your Amazon Business purchases into QuickBooks with all the details, so QuickBooks can categorize and link them to your bank or credit card records.

Before getting started, be sure to review all your Amazon Business transactions in the App. Here's how to connect:

1. Sign in to your QuickBooks account as an admin.
2. Go to the Amazon Business Purchases app page.
3. Select Get app now.
4. When prompted, sign in to your Amazon Business account as the primary administrator.
5. Select the import start date. All of the Amazon Business purchases you made on or after that date will sync with QuickBooks for your review. This date can’t be changed.
6. Select Finish.

Moreover, consult an accountant if further assistance is needed in setting them up.

Furthermore, in relation to QuickBooks Desktop, ensure that the information is accurate in QuickBooks Online (QBO) in migration. Any data from QuickBooks Desktop (QBDT) must be updated and included in the recording of sales, returns, expenses, and other transactions in QBO. 

Additionally, I'll include these articles to show you how to track customers' transactions and Accounts Payable workflows:

• Get started with customer transaction workflows in QuickBooks Desktop
• Accounts Payable workflows in QuickBooks Desktop

If you have further questions about FBA amazon, you can comment below, and we'll respond to you as soon as possible.

Hello Ariell,

Thank you for your quick response and your willingness to help me with my issue.

Since Amazon has a monthly sales report with information including 1) Gross Sales, 2) Returns, 3) Expenses, and 4) Transfers (deposits), there's no need to create another layer of complexity by having to download Amazon Purchase app.  In other words, I don't need granular details about my monthly activities. 

Again, the way I was doing it before, any dollar amount that is deposited into my Chase Bank will be recorded as "Amazon FBA Income".  The Gross Sales, Returns, and Expenses are recorded in my manual Excel spreadsheet.

What I am looking for is how to incorporate the "lump sum amount" into QB.

1) Gross Sales:  How to record it in QB?  Create Sales Receipt without an invoice for the entire month?

2) Returns:  How to record it in QB for the entire month?

3)  Expenses:  How to record it in QB although I think it's fairly simple by creating expenses under COGS Expenses?

4)  Transfer:  How to record it in QB?  I suppose I can create an invoice for the incoming receipts from Amazon as Account Receivable.  Once the amount is in my Chase Bank, I can record it as a receipt in QB.

Since Amazon provides us the lump sum amount, I want to simplify my bookkeeping and record the lump sum amount in QB.  There's no need for granular details.

Thank you

@Who_Dat 

You can use a 3rd party app as the connector to lump sum the numbers.

Hi Rose,

I think your suggestion is useful.   To summarize:

1) Create an invoice for Amazon FBA Sales.   When the money gets deposited to the bank, record the payment which will close out the invoice.  Please note, we get pay every two weeks.   The actual deposit  may not be in the same month due to grace period from the time Amazon released the fund to the time Chase actually received the deposit.  Will it matter?   No, right?

2) Returns.   Create a new good/service line item for Amazon Returns.  Once the item is created, create an invoice .   I will need to learn how to give a customer a refund as I have never done so before

3). Expenses.   I will record this expense amount as COGS Expense since that’s how I’ve been doing it since filing as SCorp.

4). For Transfer, basically do nothing because this will net out 1, 2, and 3 as discussed above?

4Gal.

what app would that be, and how will it work?  Is there a video on it? 

@Who_Dat 

Explore this one

https://connectbooks.com?fpr=fiat35&fp_sid=amazon

Thanks but that app seems too complicated and expensive to use when a monthly summarized report is all anyone should really need.  Plus, it’s free.  

I totally understand where you're coming from. I also sell through Amazon FBA and used to track everything in Excel, just like you. I would only record the deposit from Amazon as income in QuickBooks, but that never gave me a full picture of my business. My reports were always off.

When I switched from QuickBooks Desktop to Online, I started using Synder to help with the Amazon integration. It connects directly to your Amazon FBA account and pulls in all the details automatically and everything else Amazon takes out before depositing money into your bank.

Synder also matches those deposits with your bank feed in QuickBooks, so everything lines up. You get a much more accurate view of your income and expenses, and you don’t have to do all the work manually in spreadsheets anymore.

If you're moving to QuickBooks Online and want to track everything properly, I really recommend giving Synder a try. It made my life a lot easier and helped me keep my books clean and up to date.