Setting up an accounting system for your Amazon business gets overwhelming fast.
Choosing between the dozens of different accounting programs isn’t easy.
They all claim to have “one of a kind” features that make importing your Amazon numbers a breeze …but you can’t figure out how to make sense of any of them!
So you decide to stick to the DIY option of crunching your own numbers manually in Excel…
Which works pretty well until your business takes off and you run out of time to enter sales, refunds, and inventory into a spreadsheet each day.
By the time tax season rolls around, your books are out of control and you’re scrambling to print off spreadsheets, Inventory Lab reports, and unreadable TXT files from Seller Central.
Your CPA is practically begging you to move your data over to QuickBooks. But when you go to the website, you don’t even know which version to buy. It’s like you need an accounting degree just to pick the right software!
If you’re anything like most busy Amazon FBA sellers, you end up closing down the QuickBooks tab and doing a little online sourcing instead.
You’ll get around to better bookkeeping one of these days…
There’s got to be an easier way
Look. I know that accounting is the least exciting part of running an Amazon business.
I’d rather be removing price tags with a Scotty peeler than burying my head in Amazon reports!
But doing bookkeeping for your Amazon business is non-negotiable.
And not just for tax season.
Without the ability to run a quick Profit & Loss report, you’ll never know if your business is actually profitable.
To get a clear picture of the financial health of your FBA business, you need…
- A way to track assets (money in your bank accounts, the value of your unsold inventory, etc)
- A way to track liabilities (money owed to your credit cards and loans)
- A system for tracking expenses (software, supplies, Amazon selling fees, and (the big one) the cost of your sold inventory)
- To run and understand detailed business reports (this includes Balance Sheet and Profit & Loss)
You can do all of this inside QuickBooks, the accounting software that’s used by millions of businesses worldwide …as long as you can figure out how to use it!
But that’s easier said than done!
If you’re ready to get serious about accounting without wasting days trying to learn QuickBooks on your own, we can help.
Bookkeeper and FBA seller, Vicki McCay, brings you this amazing new course that will show you how to use QuickBooks as an Amazon seller…
Even if you’re not “a numbers person” or you’re years behind in your Amazon bookkeeping!
By the end of this course, you’ll have QuickBooks fully set up and you’ll be able to run detailed and accurate reports for your Amazon business.
This course is perfect for Amazon sellers who want to follow a simple, CPA-approved accounting system.
QuickBooks has a reputation for being hard to use. But Vicki makes it easy by teaching you only the parts that you need to know as an Amazon seller.
You’ll learn how to track Inventory Assets, manage your sales tax, run reports, and keep up with your monthly bookkeeping routine.
Tax season just got a whole lot easier!
When you complete the course, you’ll feel confident knowing that you’re using QuickBooks to its fullest potential (your CPA is going to love you!).
Does This Sound Like You?
- You’ve been getting by with a few different Excel spreadsheets but you’re ready to switch over to an accounting system now that your business has grown
- Your accountant keeps asking you for a Balance Sheet and Profit & Loss Statement but you can’t generate those with GoDaddy, InventoryLab, or spreadsheets alone
- You’ve tried to use QuickBooks because you know it’s THE gold standard for accounting software, but you had no clue where to start
- You’re tired of being stressed out and scared at tax time
- You want an all-in-one accounting system that tracks inventory value, sales tax, accounts receivable & payable, invoices, and business reports in ONE place
This course was designed to help Amazon sellers like you make sense of QuickBooks accounting software so that you can run the reports you need as a business owner.
QuickBooks for Amazon Sellers is not about the theory of accounting. These video lessons are short and to the point so that you can follow along as you set up and use QuickBooks for the first time.
Then you can rewatch the lessons at any time as you get the hang of your new accounting routine.
We offer three different versions of this course. The basic outline is the same, but we tailor it to meet the requirements of each software.
You can choose the desktop versions of Quickbooks for either PC or MAC.
We also cover the Simple Start Online version. Please note though that the online version of QuickBooks DOES NOT come with any inventory tracking.
MODULE 1
Getting Started with QuickBooks Pro
In this module, you’ll learn how to choose the right version of QuickBooks Desktop software and get it set up on your computer. If you choose Simple Start Online, Vicki will walk you through all of the settings that you need to have in place before you get started.
MODULE 2
Customize Your QuickBooks
Module 2 is all about setting up QuickBooks so that it makes sense for your Amazon business. Vicki will guide you as you set up your own custom Chart of Accounts (this is where most Amazon sellers get confused and give up on accounting software!). You’ll also learn how to import all of your inventory from Amazon to QuickBooks Desktop Pro. Simple Start users will explore options for tracking inventory value through outside inventory management systems.
MODULE 3
Getting To Work
You’ll set up online banking, download transactions, and reconcile your bank accounts. You’ll also get access to Vicki’s custom Posting Worksheet that you can use to get your Amazon Payment Statements into QuickBooks.
This is where you’ll learn the foundations of your monthly accounting routine so that you’ll never be “behind” on bookkeeping again.
MODULE 4
Analyzing Reports
In Module 4, you’ll learn how to find, run, and customize the most common business reports requested by CPAs. Vicki will show you the Profit & Loss, Balance Sheet, Inventory Valuation, and even the Sales Tax Payable report in Desktop Pro. In Simple Start Online, you will learn to run the Balance Sheet and Profit & Loss.
You’ll learn how you can compare current and prior year reports to gain insight into which business practices are helping your business grow and which ones should be left behind.
Now is the perfect time to implement QuickBooks for your Amazon business. When you join the course, you’ll get instant access to all of the course videos and spreadsheets.
Watch the first module, purchase and install the right version of QuickBooks Pro Desktop or signup for Simple Start Online, and then get to work!
Whether you’re a brand new seller or you’ve been selling for years without an accounting system in place, QuickBooks for Amazon Sellers will help you make sense of bookkeeping (even if you never took an accounting course in school!).
Frequently Asked Questions
What else will I need to buy to use this course?
To use this course, you will need your own copy or digital download of QuickBooks Desktop Pro. (Please see the last question in FAQ for the 2023 add-on services discontinuation and how it may affect you.)
The Simple Start Online plan requires a monthly subscription and runs around $25.
Why QuickBooks?
The difference between QuickBooks and other popular Amazon bookkeeping solutions like GoDaddy is that QuickBooks is a true double-entry accounting program.
Because it tracks both assets and liabilities, you’ll have the ability to run a Balance Sheet. This is important for an inventory-based business like Amazon and something that your CPA will ask for.
If you’re on the fence about QuickBooks vs other software, I’d recommend that you talk with a CPA or other tax professional. Most CPAs are very knowledgeable about QuickBooks and would be thrilled to find out that you’re already using it.
Do I need Inventory Lab for inventory management?
If you already use Inventory Lab for inventory management, Vicki will teach you how to get those numbers into QuickBooks (software or online).
But if you’re not using Inventory Lab, you will learn how you can do all of your inventory tracking directly within QuickBooks Desktop Pro and Inventory Asset (value) in Simple Start Online.
The choice is yours and Vicki will help you make the right decision for your business.
What if I've already taken Catch Up Accounting?
Many sellers choose to use Catch Up Accounting as a standalone DIY accounting system. But if you are ready to upgrade to a real accounting program, then this course is the next step.
If you have recently taken Catch Up Accounting, you will be in great shape when you start this QuickBooks training! Vicki will let you know when you can use your “catch up” numbers in QuickBooks as historical data.
I've been selling on Amazon for a few years. Do I have to go back and enter all my old transactions?
No! It would be very tedious to manually enter your transactions from past years in QuickBooks. In Module 1, Vicki will help you pick the right “Start Date” for your business in QuickBooks. You will want it to be in the current year. That means you only need to know the totals from prior years, not each transactional detail.
Whatever method you used prior to QuickBooks will be sufficient for your starting point. You can just hang on to those records for proof of your Opening Balances in QuickBooks.
If you need to get a year’s worth of books in order FAST, then we suggest starting with our Catch Up Accounting course FIRST and then continuing on with this course.
Does this course come with support?
This course is being sold as a stand-alone training that does not come with any one on one support.
Once you purchase the course, you will have the opportunity to pay for a one-on-one session with Vicki if you need personal assistance.
I'm just a part-time seller. Do I really need this?
If you have sold more than $600 on Amazon, the IRS considers it a business, not a hobby. So you are going to be responsible for accurately reporting your Amazon income on your taxes.
That being said, if you are a brand new seller and you’re not yet sure if you’re going to stick with Amazon, you might not need QuickBooks yet. The Catch Up Accounting Course should be enough for you to do your taxes.
But if you are already making money in your Amazon business and you want to keep detailed records of your business financials, then this is a great solution for you – even if it’s only a part-time source of income.
What if I've tried to use QuickBooks before but couldn't figure it out?
That’s exactly why we created this course! QuickBooks is really confusing to use right out of the box. It’s great software but it was designed for much larger businesses which means it can overwhelm small business owners like Amazon sellers.
This course is taught by a bookkeeper who is also an Amazon seller. That means that she’s only teaching you the stuff you need to know as an Amazon seller.
How can I get my money back if this training isn't for me?
This training comes with a 30-day no-questions-asked guarantee. If you are not satisfied with the course just email us at vicki@southernmomflair.com and we will issue you a refund.
I heard Intuit discontinued QuickBooks Desktop Pro as of May 31, 2023. What does that mean to me?
It is true that Intuit is discontinuing add-on services as of May 31, 2023, for all of 2020 software.
Basically, that means, for this course, you will no longer be able to download bank transactions. If you can live with manual input for bank transactions, this is not a big deal. The software will continue to work and you can save the $800 or so dollars per year they are now charging for the software. (If you have an older version, you are good to go, as well.) Some students have been successful in locating software on Etsy and eBay. Worth a shot.
They are moving to a subscription model and online only.
You can use this course with older and newer versions. Lessons for PC and Mac are recorded in Desktop Pro 2020.
The Simple Start course is not affected by the downloads discontinuation.
Important: Information in this document does not constitute tax or legal advice and must not be used as such. If you have tax or legal questions, please contact your professional adviser. Any course offered here is simply to demonstrate how to use accounting software or spreadsheets. QuickBooks for Amazon Sellers and QuickBooks for Beginners courses have a 30-day refund policy. Spreadsheets and courses for spreadsheets are not included in the 30-day refund policy. I am happy to help with use issues with spreadsheets and courses.
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