Disclaimer: Please note this article is not financial advice. The purpose of our blog is purely educational, so please consult a professional accountant or financial advisor before making any financial decision.
Nearly every business owner knows QuickBooks. Popular for its robust features and cloud-based solutions, QuickBooks Online has dominated the accounting software market.
It was only a year ago when Intuit announced QuickBooks Amazon integration for small businesses to enjoy seamless payment processing and reconciliation on Amazon Business. The productivity rate has exponentially increased since this launch.
Still haven't connected your Amazon Business and QuickBooks Online accounts? Then let's show you how to connect your business on a whole new level.
Upsides of Connecting QuickBooks to Amazon
Two is better than one, they say. So imagine the capabilities of the most powerful online market platform and the most comprehensive accounting software combined. The possibilities are endless.
QuickBooks organizes your bank accounts' order and purchase transactions into categories and links. Thus, having QuickBooks Amazon integration is a great way to save time and keep track of your books wherever and whenever you need them. Also, automation and reconciliation have never been easier. You can easily locate a transaction and get a complete breakdown.
Imagine your business flow if you had this kind of integration.
- Handles international currencies
- Manages your inventory
- Calculates your sale taxes and income taxes
- Automates your transactions
- Builds employee and customer relationships
- Stores and secures your data in the cloud
Do you know how to integrate Amazon with Quickbooks Online? How about your Amazon Seller account and QuickBooks Desktop? Let's help you set things up!
QuickBooks Amazon Seller Integration
What You’ll Need
- Active QuickBooks Online account
- Log-in credentials as the master administrator
- Active Amazon seller account
Procedure
Step 1: Connect.
To start, go to Apps. Then, search Amazon Marketplace Connector by Intuit, click Get App Now, and start the connection. You'll then be directed to the log-in page of QuickBooks.
Step 2: Configure.
You'll need to set up the following Synchronization Options:
- Account Timezone
- Integrations Starting Date
- Email Sync Report Options
Step 3: Organize Your Workflow.
Now, you can begin selecting and deselecting the details that you want to be part of your workflow. QuickBooks offers several useful workflow options.
- Invoice Creation Workflow — To manage your sales on Amazon as invoices on QuickBooks.
- Financial Event Workflow — To make deposits on QuickBooks Online and pay your employees automatically in the Amazon marketplace.
Step 4: Sync.
Once you have mixed and matched your workflow options, your account is ready to sync. First, choose between auto-sync (which syncs your account every hour) and manual sync, and then on your Synchronization Options, click Sync Now.
FAQs
Is Amazon Marketplace Connector by Intuit free?
- Yes, and it has unlimited users.
Will my data be safe and secure?
- Yes, your data will be safe and sound.
Is there customer support available?
- Yes, a dedicated team will help you set up or deal with any issues you may have.
QuickBooks Amazon Business Integration
Now, let's say you want to buy a thing or two for your business. How do we do this?
What You’ll Need
- Active QuickBooks Online account
- Log-in credentials as the master administrator
- Active Amazon Business account
Tip: QuickBooks Online only integrates with Amazon Business accounts, not with Amazon.com accounts. In other words, you can't track your personal purchases with this integration.
Procedure
Step 1: Connect.
Go to Apps; this time, search for Amazon Business Purchases and get the app.
Step 2: Sync.
Next, choose how far back you want QuickBooks to go when it downloads transactions from Amazon: a week, a month, a year, two years? Whatever you choose, you still control which downloaded transactions will be added to your books and shown on your reports.
Once you have decided, select Agree. A pop-up tab will appear, and you have to enter your Amazon Business account credentials. Boom—done!
Step 3: Configure.
Your new Amazon Business purchases will appear on QuickBooks automatically. However, you still need to confirm them before they appear in your books.
Pro tip: If you also download transactions from your bank and credit cards, add the transactions from the Amazon Business Purchase App first. Afterward, you can match them to what your bank sent you.
Purchases on Amazon appear in QuickBooks, the same as your connected bank and credit card accounts.
Transactions listed under the For Review tab are up for approval. They won't appear on your reports or financial statements until you confirm them. Once you've confirmed a purchase from Amazon, you'll find it in the Review tab. It will stay there unless you undo your approval and make a change.
If you download something you don't want to add to your QuickBooks, you can exclude it.
Step 4: Manage Your Purchases.
The Source or Payee column displays the bank or credit card account used when you make a purchase.
Since you can use multiple bank accounts for these purchases, it is important to confirm what you see here to the bank accounts in your QuickBooks.
If you need to manage your bank or credit card accounts on QuickBooks, select the Account drop-down menu of each account. Don’t forget to save afterward.
If you want to take a closer look at a purchase transaction, select one under the For Review tab. With this, you'll see the products you purchased and a link to the order on Amazon.
For each product purchased, select a category that best describes the product you bought. Once you're done, click Add. That transaction will automatically go to the Reviewed tab. If you ever want to see the transaction details again, just select them.
If you also download from your bank or credit cards, you'll download the purchases from them as well. Make sure to match them at the For Review tab after you've added them from Amazon Business Purchases. Why?
- It confirms that the transaction is correct.
- It prevents duplicate transactions.
FAQs
Is the Amazon Business Purchase App free?
- Yes, unless you are using an Amazon Business Prime account.
Can you use your personal Amazon.com account with QuickBooks?
- Unfortunately, you can’t connect your QuickBooks Online with your personal Amazon account. It only works with Amazon Business accounts.
Can you use Amazon Business to connect to your client’s account through your QuickBooks Online account?
- You can’t. Amazon and QuickBooks only allow the same administrator of both accounts to connect; this is for the safety and security of your books and reports.
QuickBooks Desktop Amazon Integration
As of this writing, QuickBooks Desktop doesn't directly integrate with Amazon. But Amazon Marketplace Connector is working on this project.
For now, third-party apps in the market offer this integration for QuickBooks Desktop Pro, Premier, and Enterprise. We've chosen three popular apps that will connect your Amazon and QuickBooks Desktop seamlessly.
- A2X — Best-received Amazon ecommerce accounting app that uses Google's cloud platform; you can make up to 10,000 transactions per month
- Connex — Powered by Intuit and the priciest one with 24,000 transactions annually if you get the Gold subscription
- Synder — Most reasonably priced among the three; its third-tier plan offers multichannel businesses 1,000 plus transactions per month
Note that these three are paid apps. A2X and Synder offer a week's worth of free trial, but Connex doesn’t.
Tip: QuickBooks Desktop not only connects to Amazon, but it also connects you to ecommerce platforms like Shopify or money transfer platforms like Stripe.
Setting Up
Despite making you use another app and burn more money, connecting QuickBooks Desktop and Amazon is easier than you might think. All you have to do is go through the configuration wizard, select Amazon (or any other platform you want to connect), and click Connect. Easy!
Get Financial Advice from Unloop’s Experts
Time is money, as we say. QuickBooks Amazon integration saves up time on manual data entry and eliminates switching between QuickBooks and Amazon over and over.
Moreover, it gives you an overview of how your business is doing. If you have a growing Amazon business, integrating your Amazon to QuickBooks Online or Desktop is a great financial decision. The QuickBooks Desktop version may have some drawbacks in terms of pricing, but it's worth the money for hassle-free bookkeeping!
If you're unsure about this hip and new integration brought to you by Intuit and Amazon, you can always contact Unloop’s financial experts for all your accounting needs. We're here to offer our insights, as well as our quality ecommerce accounting service.
Call us at 877-421-7270, and talk about the future of your Amazon business with us today.