Amazon Expense/Sales Recording + Inventory

It's a pleasure to have you here in the Community space, @HGSSam. I'm here to lead you in the correct direction for a complete solution.

My colleague, ChristineJoieR, has already answered a similar question you've posted. You can view her answer through this link:  https://quickbooks.intuit.com/learn-support/en-us/payments/re-how-to-enter-merchant-fees-and-orders-..., where she explained everything you need to know about recording your sales and expenses from Amazon into QuickBooks Online.

I'm also including this article to learn more on how to record, edit, and delete expenses in QuickBooks Online.

You can also look for self-help articles on our QuickBooks help articles page to help you complete your QuickBooks tasks quickly.

Post a reply if you have other questions about the refund process in QuickBooks Online. I'll get back to you as soon as I can. Have a good one!

hi Kevin_C, 

Thank you for the response. I don't think I asked the question properly in the other thread, and thus, I received an inadequate answer. Please review the question here once more and see if there is any better solution that you can provide. The solution on the other thread was not helpful. Thank you. 

Hello there, @HGSSam.

You can record it as a deposit together with the payment. Make sure to enter a negative amount for the Amazon fees. To do this, you can follow the steps below: 

1. Click the + New. 

2. Select Bank Deposit.

3. From the Account ▼ dropdown, choose the account you want to put the money into.

4. Select the checkbox for each transaction you want to combine.

5. Make sure the total of the selected transactions matches your deposit slip.

However, if you're only entering it as a fee alone, you can enter it as an expense transaction.

For your reference, you'll want to add and match multiple transactions you've already entered in QuickBooks. 

Don't hesitate to keep in touch if you need anything else. As always, the Community is always here to attend to your concerns.

Hi Maybelle_S, 

Thank you. I am unable to enter it as a deposit because the expenses are greater than the sales in some instances. Please advise as I want to group these together into one transaction, or let me know if I have to make 2 entries for these. Thank you. 

Thank you for visiting us here in the Community, @HGSSam. I can help you with how to record sales and expenses in QuickBooks Online. 

When you receive payments, learn how to record it in QuickBooks Online. Here’s how:

1. On the left pane, + New and choose Sales receipt.
2. Select a Customer from the dropdown.
3. Enter the sales details, and payment method.
4. Enter the items for the products and services.
5. Once done, click Save and Send to email the receipt. 

To move money to another account, use a Journal Entry to balance your books. Here’s how:

1. Select + New.
2. Select Journal entry.
3. On the first line, select an account from the Account Depending on if you need to debit or credit the account, enter the amount in the correct column.
4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
5. Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
6. Enter the information in the memo section so you know why you made the journal entry.
7. Select Save and new or Save and close.

If you're unsure of the accounts to use, I suggest consulting an accountant. They can advise you on the steps to take, and also keep your books accurate.

In addition, I got you this article that will help you manage your expenses in QuickBooks Online.

Leave us a message for any further assistance needed. Have a good day ahead!