How do I account for the unavailable balance from sales to Amazon?

Thanks so much!  This is certainly a simple way to track sales and expenses and it worked great!!  Reconciling with Amazon statements was spot on!

This is Great: "Reconciling with Amazon statements was spot on!"

After all, they have your money, so that works best.

I used the same way, and it works. However, when the beginning balance is greater than the net payment proceeds, it creates a credit amount. What to do with the credit? Applying on the next payment? I am trying to reconcile my bank statement and couldn't get an amount to match since there is a credit remaining on Amazon's account. Do you have any suggestions? Thank you!

I like this way best, as the holding account is tying to the Settlement Period Reports. But, how do you match up your monthly sales posted through the invoices as stated about with the monthly sales summary report which would tie back to the 1099? 

Hello there, @jthompson73. 

You can still run the report to show the overall sales as long as the sales invoices and payments are deposited to your Amazon bank. Just click the accrual basis of your reports to get the total amount and see your payments and expenses from there.

Also, you can review the created invoices and compare them to your reports so they would be balanced when you create and file the 1099 form.

Moreover, you can pull up the Sales reports in QuickBooks Desktop. This way, you can easily keep track of your sales and expenses. Let me show you how.

1. Go to the Report menu.
2. Choose Sales.
3. Select the reports you want to pull up like Sales by Customer Summary, etc.
4. Click the Customize Report button.
5. Filter the report according to your preferences.

You can refer to this article for more detailed instructions: Customize customer, job, and sales reports.

Additionally, I've added these articles to learn more ways on how you can get the most out of the available reports in QuickBooks:

• Create, access, and modify memorized reports
• Combine reports from multiple company files

I'll be right here to continue assisting if you have any other concerns or report-related questions. Just add the details in the comment section and I'll get back to you.

Can you explain in steps how to record Amazon receipts when there are unavailable funds that go into bank accounts.  How can I record the receipts and uf so the uf do not show on the P&L?

Thanks for chiming in on this thread, loosepetals.

If you have the same situation as lafitzsimon, you can apply the steps shared by qbteachmt. Let me show you how:

To create a bank account, here's how:

1. Go to Accounting > Chart of Accounts.
2. Click the New button.
3. In the Account window, choose Bank from the Account Type drop-down.
4. Select the Detail Type and enter a bank name. For example: Amazon.
5. Click Save and Close.

Once added, you can create your sales and then record a deposit to the Amazon bank including the check or expense for the fees, costs, etc.

The steps are included in these articles:

• Create invoices in QuickBooks Online
• Record and make bank deposits in QuickBooks Online

As for transferring the funds from Amazon bank to the real checking account, you can use the following:

• Transfer
• Check
• Matching imported bank transactions* (only available if you have one or more connected banks)
• Journal Entry (Check with your accountant before making a journal entry)

For Transfer, here's how:

1. Go to + New > Transfer.
2. From the Transfer Funds From dropdown list, select the bank account that the money is coming from.
3. From the Transfer Funds To dropdown list, select the bank account that the money is going to.
4. In the Transfer Amount field, enter the amount being transferred.
5. Edit the Date field.
6. Enter a description of the transfer in the Memo field (optional).
7. Click Save and close or Save and new to complete the transfer.
8. Hit Yes if you double checked the date.

I've got this article for reference: Transfer funds between accounts.

With regard to your concern about not to show the receipts in the Profit and Loss, please know that the report is driven by the income and expense accounts. This means that if you have transactions affecting these accounts, it will be posted to this report. To learn more about the report, feel free to read this guide: Run a Profit and Loss report by bank account in QuickBooks Online.

You're always welcome to post a reply here if you have any additional questions or concerns. I'll be right here to help. Have a good day ahead.

Where do I set up the credits (unavailable balance, previous unavailable balance)?

I already have an Amazon bank account, but do not enter the deposits in the deposit window

Can I still take out the shipping and the Amz fee inside the Amazon receipt?

Can you take screen shots of how to enter the funds and the unavailable balance to match the ACH in my bank account?

Thank you

Hi there, loosepetals. 

I'm here to make sure you'll be able to enter bank deposit in QuickBooks Desktop. 

Here's how:

1. Go to the Banking menu and select Make Deposits.
2. In the Payments to Deposit window, select the payments you want to combine. Then select OK.
3. In the Make Deposits window, select the account you want to put the deposit into from the Deposit to drop-down.
4. Enter the needed information in making the deposit.
5. When done, select Save & Close.

You can also check this article for more details about the process: Record and make bank deposits in QuickBooks Desktop.

Additionally, let me attach this link to guide you on how bank deposits work with the Undeposited Funds account in QuickBooks.

Keep me posted if you have other questions about managing your bank deposits in QuickBooks. I'll be around to help you again. Stay safe and have a good day.

Hello, the UB in the AMZ statements are negative. Ex -100.00

Negative amounts cannot be recorded in the deposit window.

Where does the UB amount get recorded?  And is it considered income?

Is the UB an - Other Current Asset, and can you verify where it goes

as well as the previous unavailable balance.

are they entered as a journal entry?

Instead of transferring the money from AMZ to my bank account, can I make a deposit and combined my receipts and UB, and PUB

I appreciate you for coming back to the thread to add further clarification about your concern to achieve your goal, loosepetals. With this, I'll be sharing details on how to combine deposit works in QuickBooks. Then, route you to the right person to assist you further on this matter.

Yes, you can make a deposit and combined your receipts, UB, and PUB. To do this, you'll have to record the total sales and enter the negative amount for UB and PUB as Other Current Asset. I've attached a screenshot below for visual reference. Before that, I suggest consulting an accountant before performing the process to ensure your records are in shipshape. They can provide the best suggestions on how to properly handle transactions for UB, and PUB.

You may refer to this article to view details on how Bank Deposits feature group payments together into a single bank deposit record and how it works: What are Bank Deposits in QuickBooks?.

Keep me updated if you have other questions about recording a deposit in QuickBooks. Keeping you up and running is my top priority. Take care and have a good one!