Are you currently selling online? If you are, then you’re probably happy with how things are going. You’ve done your research, have the product listings done, and that first shipment really paid off. But the question is, how is your shipping costs? Are you having trouble keeping track of your expenses; specifically for those products shipped to Amazon FBA warehouses?
Amazon FBA is a lucrative opportunity for online sellers around the world. The product source market on Amazon is growing by leaps and bounds, and the number of Amazon FBA businesses increases every day. This includes business owners who already own an established business outside of Amazon, or those who are just starting out completely from scratch. However, when your business has dozens or even hundreds or thousands of products to ship you will discover that the old style of shipping labels just won’t cut it anymore. You need to be able to handle much larger volumes of sales if you want to make any significant amounts of money with your Amazon FBA business.
Setting up quickbooks for amazon fba
1. Set up a chart of accounts for Amazon sellers
2. Record online sales in QuickBooks Desktop
3. Record Amazon sales in QuickBooks Online
4. Use Sales Tax Items to apply tax on Amazon sales
Amazon sellers can use QuickBooks to record and manage their sales.
Here’s how to do it:
Create a Chart of Accounts for your Amazon Sales
In order to record your Amazon sales, you’ll need to set up a chart of accounts that includes a separate account for each type of sale. For example, if you sell both books and DVDs on Amazon, create two accounts in QuickBooks: one for book sales and one for DVD sales.
To create a new account in QuickBooks, open the Chart of Accounts window by clicking Edit > Chart of Accounts. Click New to open the New Account window. In the Type drop-down list, select Other Income/Expense Account. In the Account Name field, enter the name of your new account (e.g., “Amazon Book Sales”). Then click OK to save your changes and close the New Account window.
For Amazon FBA sellers, your chart of accounts will be slightly different than for non-Amazon businesses. This is because Amazon requires that you record some of your expenses differently than other businesses.
You’ll need to record the following accounts in QuickBooks:
Credit Card Receivables from Amazon Customers (A/R)
Amazon Sales Tax Payable (A/P)
Amazon Accounts Payable (A/P)
Chart of Accounts for Amazon Sellers
Amazon sellers use a different chart of accounts than most businesses. The chart of accounts for Amazon sellers is completely separate from the rest of your business, and it depends on how you want to manage your business.
The chart of accounts for Amazon sellers should include:
Accounts Receivable: A/R
Accounts Payable: A/P
Cash (Bank): Cash Balance Sheet Accounts
Inventory: Inventory Asset Account
Cost of Goods Sold Expense Account
Amazon FBA is a great way to expand your business. It’s easy to get started, and there are a ton of benefits. But one thing you might not know is that Amazon has an accounting system built right in. This means you can use QuickBooks to track your Amazon sales, which can be incredibly helpful for tax time.
In this video, I’ll walk you through how to set up QuickBooks for Amazon FBA and record your online sales in QuickBooks.
You’ll need to set up the following categories in QuickBooks:
Amazon Sales – To record sales from all orders fulfilled by Amazon FBA
Amazon Inventory Cost – To track the cost of inventory sold on Amazon
Amazon Shipping & Handling – To track shipping costs from Amazon fulfillment centers
Amazon Service Fee – To track fees charged by Amazon (for example, if they charge you extra shipping costs because they messed up).
How to record amazon sales in quickbooks desktop
Amazon sellers use QuickBooks Desktop to track their business, but it can be tricky to figure out how to record sales from Amazon. This article will show you how to set up a chart of accounts for Amazon sellers, as well as how to record online sales in QuickBooks.
This article assumes that you already have an existing chart of accounts and are looking for a guide on how to set it up for Amazon sellers. If you need help setting up your chart of accounts, check out our article on creating a chart of accounts in QuickBooks.
Amazon is one of the most popular online retailers, and if you’re an Amazon seller, it’s important to keep track of your sales. You can use QuickBooks Desktop to record your Amazon sales as they happen.
If you’re a new seller on Amazon, we recommend using QuickBooks Online because it will automatically give you all the information you need to record your sales. If you have experience with QuickBooks Desktop and want to record your Amazon sales manually, follow these steps:
Entering Amazon Sales in QuickBooks Desktop
First, open up QuickBooks Desktop and select New Company from the “File” menu. This will take you through an initial setup for entering credit card charges and tracking inventory in one step.
Next, enter your company name and address information into the fields provided by clicking on the “Edit Company” button at the bottom of your screen. Then click “Save & Close” to save this information so that it doesn’t need to be entered again later on in this process.
Now let’s get started recording our first sale! Click on “Chart Of Accounts” in the list of options at the top right corner of your screen and choose Edit Chart Of Accounts… from
If you sell on Amazon, then you’re probably familiar with the sales tax headaches. Whether you use a third-party service or do it yourself, here’s how to record Amazon sales in QuickBooks Desktop.
Chart of Accounts for Amazon Sellers
The first step is to set up your chart of accounts so that it matches what Amazon expects. The easiest way to do this is to create an account called “Amazon Sales.” Then, create separate accounts beneath it for each of your products (i.e., “Product 1” and “Product 2”).
You’ll also want to create an account for returns that are received from customers who have previously purchased from you through Amazon.
Amazon sellers can use QuickBooks Desktop to record sales and expenses related to the business. For example, if you sell items on Amazon FBA (Fulfilled by Amazon), you can use an Amazon sales invoice template in QuickBooks Desktop to record the purchase of inventory and its sale on Amazon.com.
You can also use an Amazon sales invoice template for products that you sell on your own website or other online marketplaces like eBay, Etsy or Shopify. QuickBooks Desktop offers several options for recording online sales and expenses.
Inventory items purchased from Amazon
Amazon FBA inventory adjustments – record stock adjustments when items are shipped from FBA or returned to Amazon due to damage or other issues with the product
Non-inventory purchases from Amazon – record non-inventory purchases such as shipping fees, commissions paid to affiliates or advertising fees paid through Amazon Pay
Items sold on other websites – track income earned through third party sites such as eBay or Etsy
If you sell on Amazon, then you need to record your sales in QuickBooks.
There are two ways to do this:
1. If you use an online merchant service like Paypal or Stripe, then the transactions will automatically be recorded in QuickBooks Online.
2. If you sell on Amazon directly (not through a third-party site), then you can record your sales in QuickBooks Desktop using the Inventory section of the program.