How to reconciliate fedex with a shipping expense already

Let me help you with your concern about matching FedEx expenses with shipping expenses, nitsujayyy.

Since the FedEx bill is higher than the imported amount, you can manually enter the bill. If you want to match the ship station expense amount to the bill you can change the amount from webgility. So once it downloads in QuickBooks it will have the same amount.

As for your other queries, I recommend consulting your accountant. They can provide the necessary steps to ensure your books accurately record those transactions.

For tips and detailed instructions on how to keep your accounts balanced and in order, see this article for future reference: Reconcile an account in QuickBooks Desktop. It contains topics about the opening balance and the reconciliation process.

Leave a comment below if there’s anything else you need, nitsujayyy. I’m here to provide further assistance. Have a good one!

I can manually do it matching shipping expenses but how do I enter FedEx bill without double expense, since ShipStation is already recorded in. Do I create FedEx as a vendor?

as for allowing a customer who also invested money, how can I not include it as a expense but take funds out of owner equity?

Thanks for your follow-up response, nitsujayyy. I've come to share additional input when managing shipping and FedEx expenses.

If FedEx expenses are downloaded into the banking feeds, you can match FedEx with Shipstation to withhold double expenses recorded in QuickBooks.

However, if these expenses aren't showing in your bank registers, entering the FedEx bill into your QuickBooks account won't be necessary. You'll only need to record the actual entries matching the data on your banking statements, so these won't cause duplicates on your expenses.

On another note, you can create a Journal Entry (JE) withdrawing from your equity (Owner's Draw) and use Accounts Receivable (AR) to reduce the equity balance of the investor or customer. Please know that it's best to consult with your accounting professional for guidance in handling these financial entries in your account. This ensures the data recorded in your file are accurate and balanced.

Moreover, I'm including this guide to help you keep track of the account balances entered in your books: Reconcile an account in QuickBooks Desktop.

I'll leave this thread available for any additional queries you require when managing expenses in your file. Let me know any time below. Stay safe!

Am I missing something here? How do I match??? Do I under the fedex bill or what?

Thanks for following up on this thread, nitsujayyy.

I'm happy to provide some info about matching transactions in your QuickBooks Desktop account.

Depending on which bank feeds mode you're currently using, you have a few options on how to match transactions in your account. Those being: Express, Classic, Advanced, or Manual. You'll be able to match transactions from the Banking Center, where downloaded items appear before being added to your QuickBooks register. 

The following article provides all the details for adding and matching Bank Feed transactions in QuickBooks Desktop.

Please feel free to comment below if you have any other questions or need a hand with anything else. I'll be here to help.

I understand how to match. What I mean is how do I input FedEx bill with out it doubling expense. I can manually adjust expense thats imported 

Thank you for getting back to me, nitsujayyy.

Just to make sure I'm on the same page, how is the FedEx bill appearing in your account - is it downloaded from your bank or entered manually?

Please let me know how it is originally recorded and we can continue working here. 

FedEx bill is downloaded from bank on bank feed. 

work flow is this. I have Webgility importing orders and ship station shipping expense already. ShipStation is essential FedEx and already expensed and paid for. I get monthly invoice from FedEx which reflect actual cost for me. So I was thinking I can pull up FedEx pdf, cross match tracking id and if there’s difference  I can manually adjust the ShipStation. If there’s shipping charges not related to Shopify but an expense (samples to customer), I can manual enter a sub account “FedEx Shipping” once all that is set I have a total bill from FedEx which I pay from my bank. To avoid double expenses, do I just input as a bill and set paid bill to my checking/bank account?

You're already on the right track in reconciling your FedEx expenses, @nitsujayyy. I can think of two options to handle this situation.

Since your monthly FedEx bill is higher, use the tracking IDs to pinpoint the specific discrepancies between the actual costs and the amounts imported from ShipStation.

After determining the correct amount, you can enter it as a bill in QuickBooks Desktop. For samples or shipping charges unrelated to Shopify, allocating them to a specific subaccount is a good initial step for proper categorization. However, I highly recommend consulting your accountant on this to ensure the most accurate approach.

Next, record the bill payment accordingly. Refer to this article that will help you in performing the process: Entering and paying bills in QuickBooks Desktop.

Once done, match the downloaded bank transaction to the recorded payment and Shipstation expense. By following these procedures, you can prevent double counting your expenses.

Alternatively, you can directly edit the ShipStation expense imported to QuickBooks Desktop via Webgility to reflect the actual amount on the FedEx bill. This is a more direct approach to reconcile the discrepancy.

Additionally, I'm also adding these links to help personalize and manage your reports in QuickBooks:

• Create, access and modify memorized reports
• Set up and modify Scheduled Reports

Further, if you have any further concerns about managing your expenses, feel free to comment below. We're here to assist you at any time.