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M
Moin
November 11, 2018
Question

E-commerce and Technology Business

  • November 11, 2018
  • 2 replies
  • 12 views

We are E-commerce business providing Online grocery shopping through phone app. We are Agent in some arrangements with our partners. We recently started QuickBooks. I want to know is there a way we can record GMV (Gross Merchandise Value/volume) in QuickBooks?

2 replies

Rustler
Rustler
Level 15
November 11, 2018

what does GMV (Gross Merchandise Value/volume) mean to you?

 

QB will record sales of items you list and the qty sold, that qty is multiplied by the rate you state to get the total for that qty of that item, the invoice or sales receipt then totals all the items and calculates sales tax if applicable

M
MoinAuthor
November 12, 2018

GMV for us is the value of items traded by the partners through our platform. BTW, we only receive commission from these partners as we are acting as agent.

S
sarabjs
July 4, 2020

Hi Moin - did you get a reply to this question?

M
Morgan Harper
June 16, 2023

E-commerce and technology businesses have revolutionized the way we shop and interact with the digital world. With the rapid advancements in technology, these businesses provide convenient platforms for online transactions, seamless user experiences, and innovative solutions. Through e-commerce, customers can easily access a wide range of products and services from the comfort of their homes, while technology businesses continually push boundaries, shaping our digital landscape and driving transformative change across industries.

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