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Join nowHi,
I use QBO.
For sales made on my company website, I manually create invoices, receive payment, and make the deposit in QBO.
For sales made via Amazon - I use Entriwise and it syncs all the data well.
I've noticed that my P&L for the year, shows all income (website + amazon) under a single heading of Sale of Product Income. Hence, I see a single figure instead of a split of Amazon & Website sales.
How do I correct this? I'd like to see my Amazon sales numbers and Website sale numbers as separate line items, both under and totalling to the Sale of Product income.
Thank you!
I can share some tips on how you can correct that, Unived Inc.
You can use classes to track the sales transactions from your company website and Amazon. This feature allows you to view profitability for each line of business separately, eliminating the manual manipulation of the reports to pull the information out.
When you’re ready, here’s how to turn the Class tracking feature:
Then, you'll have to add your company website and Amazon to the class list. Once done, you may now open the invoices and start assigning classes to them. Lastly, to view the breakdown of sales for each business segment, you can run the Profit and Loss by Class report.
I've also enclosed some articles that help you streamline the reporting process in QuickBooks Online:
I'm just a post away if you need more help in managing your transactions and reports. Happy Holidays!
One solution is to map the income account the the invoices you create to something different. There are 2 steps to mapping invoices items. The first step is to create an income account in the Chart of Accounts that has the name you want to be read on the Profit and Loss. The second thing is to create/edit the invoice items so that it maps to the income account you want.
You can get to the chart of accounts by clicking the gear icon > Chart of Accounts.
You can get to your Products and services list by clicking on the gear icon > Products and Services.
After you go to the Products and services lists you should click the little tiny gear icon above the list to display the mapped income accounts. By default you cannot see this income mapping. Once you display the income account column you will notice "sales of product" income on your invoice items you mentioned. Then to change it you would click edit and select the drop down to change the income account. Take special notice that after you change the income account to the new desired one you want to show in the P&L a new checkbox will display for the option to update all historical transactions. That one checkbox will go back in time and change the P&L to that new income account. This is a powerful checkbox would retroactively change all prior invoices to the new income account mapping. If you don't check that box then it will only affect new invoices in the future.
Awesome, thank you!
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