Import Your Amazon Sales with SaasAnt Excel Transactions

Now it’s time to import your sales into QuickBooks Online.

You will be amazed at how fast and easy this is (when you know how to use the right tools).

This is going to get every item sold imported with inventory properly deducted.

It also take the same exact amount of time whether you have 10 items or 1,000 in your settlement report.

Watch the video above, and follow along with your own settlement. The best way to learn this is to do it.

Set Up QuickBooks Online for Your Ecommerce Business

You are going to need to set up a bunch of items and accounts in QuickBooks Online.

First, of course, all of your inventory parts (products) must be set up with both Sku & name.

Next you will need to set up the items that map to the various Amazon fees and other items like the reserve.

For each of these Amazon items, based on how you chose to set up your Amazon Fee Mapping, you will need an account in the chart of accounts. I like to put most of these in Cost of Goods Sold (COGS). The exceptions would be the reserve, and Amazon Capital (if applicable).

Other exceptions would include things like Gift Wrap and Gift Wrap Chargebacks. Those will go in the income section, perhaps included as sub-accounts of something like, “Other Amazon Charges Collected.”

Once all of this is set up, you will be ready to run your first Amazon Settlement Report Import.

 

Set Up Your Master Amazon Fees Tab

In this lesson I am referring specifically to the Amazon Settlement Report template. In each settlement period you will be hit with a plethora of fees and other activity from Amazon. Restocking fees, Reserves are held, which need to be tracked in an asset account. Amazon owes you this money (from the reserves). They are just holding onto it as a sort of security deposit.

This is a separate mapping, and after entering a years worth of these for a client whom I believe has seen it all, there will not likely be anything that comes up, that isn’t accounted for in my template.

However, in the unlikely event that some new category appears, I will show you how to add it to the template, as well as in QuickBooks Online.

My template has the many fee categories from Amazon mapped to a much smaller number of categories that you will want to set up in QuickBooks Online.

If you should want more detailed categories, all you need to do is change the right hand column to whatever you want, and set those items and accounts up accordingly in QuickBooks Online.

This lesson focuses on how to use the mapping in the template.

The next lesson focuses on how to set everything up in QuickBooks Online