Being an Amazon Seller myself, I know your struggles.
When I started out on this road to independence, I had no idea how to accomplish all that lay ahead of me. I knew how to use QuickBooks, but Amazon is it’s own animal. So, I set out to tame the thing. The next few weeks and months led me to discover I needed to expand my knowledge of QuickBooks as I learned the workings of being an Amazon FBA seller.
I won’t lie and say it all came easily. Even with almost two decades of experience with QuickBooks Pro, I realized the functions I was using was only the tip of the iceberg considering all it can actually do.
Since I had never used it in a retail business, I did not realize there was an inventory or sales tax payable function. Seems strange to me now, but Intuit is good at hiding lesser used functions. Lots of users just take advantage of the checkbook and invoicing of services. In fact, I was one of those users, who utilized the checkbook and invoicing for a lawn service my son owned and a non-profit we’d created for missions work in Mexico. Those are stories I’ll save for later!
More recently, I’ve used QuickBooks Pro Desktop to take care of three of my small business clients.
Let’s just say, “You’re on the right track checking out this course.”
Some Issues I Had As A New Amazon Seller
I immediately ran into the issues of keeping up with inventory, paying sales tax, creating invoices for Amazon sales while keeping up with where the items were sold. Amazon doesn’t make that the easiest thing in the world to track! If you have tried to post any Amazon payment statements, you have a pretty good idea they are complicated, to say the least.
I spent many sleepless nights trying to decipher the payment statements and trying to come up with a nice, easy way to post them.
Lucky for us, I found a way! I created a worksheet I will share with members who purchase this course. It is so simple to use, it’s a little embarrassing it took so long to develop. 🙂 However, now that it is done, I can breeze through the posting of payments. Hey, that’s supposed to be the fun part, right?
If you are trying to figure out how to create invoices for Amazon, I have a neat trick to show you that will help in so many ways.
- I will show you how to track customers by name and shipping address for use in reports of all kinds.
- You will be able to post the sale once and track Accounts Receivable and Inventory, while keeping up with Cost of Sales.
- Splitting sales tax among many different taxing agencies is easy with this setup, as well.
- Keeping up with Amazon is one thing, but we will also touch on Ebay and other online sales.
I am particularly proud to offer a way to download existing Seller Central inventory into QuickBooks.
I realize that some students will have existing inventory and some will be starting from scratch. Well, I’ll show you how to post inventory records for both scenarios in a quick fashion.
Who will benefit from this course?
The basic QuickBooks user will find this information helpful in setting up an Amazon or other e-commerce accounting system. However, this training will focus on Amazon sellers. The process is the same for other type sellers. Once you know how to set up for Amazon, just use the knowledge and expand your focus.
The course is suitable for all levels of experience with QuickBooks from the very beginner, just out of the box to the seasoned pro. We go slow enough for beginners and faster as we get further along in the lessons. Believe me, you will not get lost or be bored. You have complete freedom to skip around in the lessons and come back to review, if you need.
Why QuickBooks Pro Desktop?
I’m a big fan of pay for it once, not paying monthly fees. You buy the software and install it on your computer. Updates are provided on a regular basis at no charge. About once a year, Intuit releases a new version, but generally the software you bought a few years ago works just fine. I only upgrade about every five years or so.
Available Versions for Amazon Sellers with Inventory Tracking Option
- To track inventory the QB Online Plus is about $60 per month depending on signup bonus coupon available at the time. This can add up to $720 annually. No thank you!
- To track inventory the QB Desktop Pro is $149 to $299 one time software purchase depending on where you buy it.
- You can see QB Desktop Pro is least expensive option compared to online version. I am all for saving money where we can and passing on the news to my readers.
- QuickBooks suggests a yearly upgrade, but the changes are usually not even noticeable. I have been known to use a Desktop version for five years before upgrading. Be sure to do the updates, however, as they are free and promote good service from the product. If you choose to upgrade annually, be prepared to pay the $200 or so for the full upgrade. Even if you decide to do the annual upgrade, the desktop version is still the least expensive way to go to get all the functions needed for an Amazon seller.
- The QB Desktop Pro software is expandable for payroll, if needed, for a fee of course. We will not be covering payroll in this course.