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Michael Pignatelli, CPA
CEO, Unloop

Category: Case Studies

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.

Your small business needs more management than its size suggests. Having fewer people in your team doesn't mean lower chances of trouble. In fact, it's the other way around.

A small business lacks highly efficient and secure systems to minimize human error and prevent employee theft. As a result, monitoring and managing everyone's roles and activities can be tough. Not to mention, managing passwords and permissions are a huge pain.

But here's something that can solve some of those problems: Quickbooks! It's an accounting software with a user access feature, allowing you to control each member's rights to financial information. 

This is vital because you don't want just anyone viewing, changing, or using your company's data without consent. Wondering how to use Quickbooks for small business user management? Read our mini-crash course about it below!

Quickbooks for Small Business: Block Digital Trespassing and Manage User Roles With Quickbooks

Are you a small business owner having difficulty managing file permissions of your team members? Quickbooks can help! Its built-in security features let you create user accounts and modify their access levels. Know more about these features below.

quickbooks for small business - quickbooks accounts chart dashboard laptop view

Account Roles

First, let's discuss the different user roles to know who can manage who.

Billable vs. Non-Billable Users

A billable user automatically counts to the user limit of your subscription, while non-billable users don't.

Primary vs. Company Admin

The primary admin is the one who creates the QuickBooks account. If you're the primary admin, you can access everything, from user management to other admin tasks. You can also transfer this role to another user if necessary.

On the other hand, a company admin can access and perform almost everything the primary admin can. However, they can't modify the primary admin's access.

Standard User Levels

A standard user can access timesheets, work with various people (e.g., vendors and clients), add account users, manage subscriptions and accounts, make a transaction, view financial reports, and modify company information.

They can perform many tasks in the account, but you can set different access levels if necessary.

  • All-access - This standard user can do everything mentioned above, whether it's managing accounts or processing transactions.
  • Limited Access - There are five variations of this access level: (1) customers and sales, (2) vendors and purchases, (3) customers and vendors, (4) customers, and (5) vendors.
  • Custom User - This access level is available on QuickBooks Online Advanced only. You can give specific access to this user and control what they can view and manage.
  • None - This access level only allows the user to submit timesheets and nothing else.

Adding Users

If you want to add a new user to your QuickBooks account, here's a quick preview of its step-by-step procedure.

  1. Go to Settings and select Manage Users.
  2. Choose Add User and select User Type. This is where you can set their access level (e.g., standard or admin).
  3. Provide the user name and email address, then save. QuickBooks will send an invitation to the receiver's email.
  4. Prompt the recipient to confirm and accept your invitation. From there, they must fill out a sign-in page to create the account and complete the process.

Other Security Features of QuickBooks for Small Businesses

QuickBooks isn't one of the best accounting software for nothing. Here are three more privacy and security features they can provide to protect your company's financial data.

Read-Only Bank Connection

When you connect QuickBooks to your business bank account, it will download and automatically update your transactions. Furthermore, it is set to "read-only" access; they can't process payments or collect personal information from your account.

Advanced Security Checks

QuickBooks uses password protection for sign-ins, firewall protection for servers, and industry-recognized encryption technology to secure your financial data.

Cloud Data Protection

QuickBooks Online is a cloud-based software. Your data is stored securely on their managed remote servers, such as the Amazon Web Services (AWS) cloud. They also use multiple storage layers, physical access, network security, and updated backups to protect your files.

quickbooks small business - cybersecurity concept sign-in verification

6 Good Practices to Manage User Permissions

Naturally, these technologies can't protect your financial data on their own. So you also need to follow some good practices. Here are six tips to start with.

  • As much as possible, don't share your account passwords with anyone unless it's necessary.
  • Set complex and strong passwords. Include symbols, numbers, and capital letters in them to minimize the risk of malicious software and hacking.
  • Install programs that come from trusted sources only.
  • Give access to team members according to their primary job. No more, no less.
  • Use a password manager. It signs in on behalf of your staff, so there's no need for them to view and manually type the passwords.
  • Learn how to recognize, troubleshoot, and prevent security concerns with your team. This includes online and offline theft, fraud, misinformation, spam, phishing, ransomware, and other related issues.

Team Up With Unloop and Make the Most of QuickBooks

QuickBooks is a prominent small business accounting software because it provides features that can help manage your finances, including user roles and access. So if you're having trouble with data protection, you can use this software to select the right people for the job and control the files they can access.

Aside from user roles, QuickBooks also uses other security features to protect your data. These are read-only access, cloud storage, and advanced security checks.

Interested in working with Unloop? We can integrate with small business Quickbooks and make it easy for you to track your finances! Our bookkeeping services will ensure that your books are updated and accurate.
We also work with partner CPAs if you need help with tax compliance and other small business accounting tasks beyond book management. Schedule a call with us today!

Anti-Guilty Eye: How to Use Quickbooks for Small Business User Access Management
Watch Now

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.

Your small business needs more management than its size suggests. Having fewer people in your team doesn't mean lower chances of trouble. In fact, it's the other way around.

A small business lacks highly efficient and secure systems to minimize human error and prevent employee theft. As a result, monitoring and managing everyone's roles and activities can be tough. Not to mention, managing passwords and permissions are a huge pain.

But here's something that can solve some of those problems: Quickbooks! It's an accounting software with a user access feature, allowing you to control each member's rights to financial information. 

This is vital because you don't want just anyone viewing, changing, or using your company's data without consent. Wondering how to use Quickbooks for small business user management? Read our mini-crash course about it below!

Quickbooks for Small Business: Block Digital Trespassing and Manage User Roles With Quickbooks

Are you a small business owner having difficulty managing file permissions of your team members? Quickbooks can help! Its built-in security features let you create user accounts and modify their access levels. Know more about these features below.

quickbooks for small business - quickbooks accounts chart dashboard laptop view

Account Roles

First, let's discuss the different user roles to know who can manage who.

Billable vs. Non-Billable Users

A billable user automatically counts to the user limit of your subscription, while non-billable users don't.

Primary vs. Company Admin

The primary admin is the one who creates the QuickBooks account. If you're the primary admin, you can access everything, from user management to other admin tasks. You can also transfer this role to another user if necessary.

On the other hand, a company admin can access and perform almost everything the primary admin can. However, they can't modify the primary admin's access.

Standard User Levels

A standard user can access timesheets, work with various people (e.g., vendors and clients), add account users, manage subscriptions and accounts, make a transaction, view financial reports, and modify company information.

They can perform many tasks in the account, but you can set different access levels if necessary.

  • All-access - This standard user can do everything mentioned above, whether it's managing accounts or processing transactions.
  • Limited Access - There are five variations of this access level: (1) customers and sales, (2) vendors and purchases, (3) customers and vendors, (4) customers, and (5) vendors.
  • Custom User - This access level is available on QuickBooks Online Advanced only. You can give specific access to this user and control what they can view and manage.
  • None - This access level only allows the user to submit timesheets and nothing else.

Adding Users

If you want to add a new user to your QuickBooks account, here's a quick preview of its step-by-step procedure.

  1. Go to Settings and select Manage Users.
  2. Choose Add User and select User Type. This is where you can set their access level (e.g., standard or admin).
  3. Provide the user name and email address, then save. QuickBooks will send an invitation to the receiver's email.
  4. Prompt the recipient to confirm and accept your invitation. From there, they must fill out a sign-in page to create the account and complete the process.

Other Security Features of QuickBooks for Small Businesses

QuickBooks isn't one of the best accounting software for nothing. Here are three more privacy and security features they can provide to protect your company's financial data.

Read-Only Bank Connection

When you connect QuickBooks to your business bank account, it will download and automatically update your transactions. Furthermore, it is set to "read-only" access; they can't process payments or collect personal information from your account.

Advanced Security Checks

QuickBooks uses password protection for sign-ins, firewall protection for servers, and industry-recognized encryption technology to secure your financial data.

Cloud Data Protection

QuickBooks Online is a cloud-based software. Your data is stored securely on their managed remote servers, such as the Amazon Web Services (AWS) cloud. They also use multiple storage layers, physical access, network security, and updated backups to protect your files.

quickbooks small business - cybersecurity concept sign-in verification

6 Good Practices to Manage User Permissions

Naturally, these technologies can't protect your financial data on their own. So you also need to follow some good practices. Here are six tips to start with.

  • As much as possible, don't share your account passwords with anyone unless it's necessary.
  • Set complex and strong passwords. Include symbols, numbers, and capital letters in them to minimize the risk of malicious software and hacking.
  • Install programs that come from trusted sources only.
  • Give access to team members according to their primary job. No more, no less.
  • Use a password manager. It signs in on behalf of your staff, so there's no need for them to view and manually type the passwords.
  • Learn how to recognize, troubleshoot, and prevent security concerns with your team. This includes online and offline theft, fraud, misinformation, spam, phishing, ransomware, and other related issues.

Team Up With Unloop and Make the Most of QuickBooks

QuickBooks is a prominent small business accounting software because it provides features that can help manage your finances, including user roles and access. So if you're having trouble with data protection, you can use this software to select the right people for the job and control the files they can access.

Aside from user roles, QuickBooks also uses other security features to protect your data. These are read-only access, cloud storage, and advanced security checks.

Interested in working with Unloop? We can integrate with small business Quickbooks and make it easy for you to track your finances! Our bookkeeping services will ensure that your books are updated and accurate.
We also work with partner CPAs if you need help with tax compliance and other small business accounting tasks beyond book management. Schedule a call with us today!

Read more

Question after question and the endless desire to seek the right answers is normal for new Amazon sellers like you. One difficult inquiry you’ll encounter is about taxes, a topic that not everybody is interested in. Still, you need to understand this because it is a huge part of your Amazon store management.

To give you a little background about Amazon taxes, we’ll list five of the most frequently asked questions newbies have. We’ll also include the assistance you can get from an Amazon accounting and bookkeeping agency to know what you can expect. Let’s start!

1. What is Amazon tax?

When talking about Amazon tax, two important things will come up, the Marketplace Tax Collection and the 1099 Amazon tax form. The Marketplace Tax Collection came when the Marketplace Facilitator Law was enacted, which mandates that facilitators like Amazon collect and remit sellers' sales tax

Meanwhile, Form 1099 is the information submitted by Amazon to the Internal Revenue Service (IRS) every year to report the gross sales income of sellers who are above $20,000 unadjusted Amazon sales income and have more than 200 transactions. 

2. What are the different Amazon tax forms?

Aside from the Form 1099, here are the other forms on Amazon that are meant for different types of sellers:

  • W-9: Amazon mandates that all US taxpayer sellers go under a tax interview to accomplish the W-9 form that will contain your basic information and your TIN.
  • W-8BEN/W8-BEN-E: All sellers undergo the tax interview, even those who aren’t US taxpayers and are foreign sellers. Non-US taxpayers and foreigners should accomplish the two forms: W-8BEN or the Certificate of Foreign Status and W-8-BEN-E declaration of foreign entity.
  • Form 1042S: Amazon and the IRS still track the income of foreigners through Form 1042S.

3. How can I find my Amazon tax forms?

You can access Amazon 1099 online through taxcentral.amazon.com by logging into your seller account. The form is readily available beginning January 31 of each year or the day after January 31 if it falls on a holiday. 

Amazon also allows the sending of the file via email and even a hard copy through delivery. Just make sure to provide the correct addresses in your tax interview. To avoid missing the hard copy through your mail, always update the address details if there are any changes. 

Meanwhile, you can get a preview of the forms W-9, W-8 BEN, W-8BEN-E, and 1042S on the tax interview page.

4. What do I need to prepare for the tax interview?

The Amazon tax interview will involve questions and answers you’ll accomplish on your seller account on Amazon Seller Central.

US sellers need to prepare their business TIN, while non-US sellers must prepare an income tax identification number issued from their country. If you are part of the people and groups who are tax-exempt, you need to prepare your tax-exempt certificate too. 

amazon tax form

5. How can I use the Amazon 1099 form?

You can use Amazon 1099 for your income tax return. A tax expert can deduct refunds from the unadjusted gross sales for you to pay taxes based on the actual money you’ve earned.

Aside from this, there is plenty of essential data collected by Amazon like sales fulfilled by sellers, sales through Fulfillment by Amazon, shipping payment, gift wrapping payment, and more! When included in the books and reports, these are helpful data that can give you a full view of your business.

Bookkeeping and Accounting Assistance

It is best to partner with experts if you will use the Amazon 1099 for your income tax return. Bookkeepers and accountants can use the data Amazon gathers to further understand your business finances. In doing so, you can reap these benefits:

Checking Amazon 1099 for income tax purposes

Filing income tax returns involves monitoring your income and expenses throughout the tax year, including details from your Amazon 1099. You can skip the worry of paying more than you should because they will deduct the refunds from your gross income jotted on Amazon 1099. Bookkeepers will ensure all details in your books are accurate.

Accounting and bookkeeping software integration

By keeping all your data in a single software, tracking will be easier. A bookkeeping and accounting agency can integrate their software with Amazon to extract data the platform provides, like inventory information, sales, shipping costs, and fulfillment charges.

Making sense of the numbers through reports

After all the data is in the books, an Amazon accountant and bookkeeper will work together to create financial reports. Report generation is easier because the agency has reliable bookkeeping and accounting software. As a business just starting out, you should check your store’s financial health as often as possible to enact necessary adjustments or continue best practices. 

Partner With Unloop!

As an Amazon seller, taxes and obligations will be a part of your life. This includes understanding the different Amazon tax forms, what’s included in them, which one you need, and how to accomplish them.

It is also important for you to know that you can make the most of the financial data you get from Amazon with the help of a bookkeeping and accounting agency. At Unloop, we can help you file your income tax returns, integrate with accounting and bookkeeping software, and make sense of your data through reports. So book a call with us now to learn more about how we can help you manage your Amazon business!

5 Amazon Tax Form FAQs and Agency Assistance to Make Sense of the Numbers
Watch Now

Question after question and the endless desire to seek the right answers is normal for new Amazon sellers like you. One difficult inquiry you’ll encounter is about taxes, a topic that not everybody is interested in. Still, you need to understand this because it is a huge part of your Amazon store management.

To give you a little background about Amazon taxes, we’ll list five of the most frequently asked questions newbies have. We’ll also include the assistance you can get from an Amazon accounting and bookkeeping agency to know what you can expect. Let’s start!

1. What is Amazon tax?

When talking about Amazon tax, two important things will come up, the Marketplace Tax Collection and the 1099 Amazon tax form. The Marketplace Tax Collection came when the Marketplace Facilitator Law was enacted, which mandates that facilitators like Amazon collect and remit sellers' sales tax

Meanwhile, Form 1099 is the information submitted by Amazon to the Internal Revenue Service (IRS) every year to report the gross sales income of sellers who are above $20,000 unadjusted Amazon sales income and have more than 200 transactions. 

2. What are the different Amazon tax forms?

Aside from the Form 1099, here are the other forms on Amazon that are meant for different types of sellers:

  • W-9: Amazon mandates that all US taxpayer sellers go under a tax interview to accomplish the W-9 form that will contain your basic information and your TIN.
  • W-8BEN/W8-BEN-E: All sellers undergo the tax interview, even those who aren’t US taxpayers and are foreign sellers. Non-US taxpayers and foreigners should accomplish the two forms: W-8BEN or the Certificate of Foreign Status and W-8-BEN-E declaration of foreign entity.
  • Form 1042S: Amazon and the IRS still track the income of foreigners through Form 1042S.

3. How can I find my Amazon tax forms?

You can access Amazon 1099 online through taxcentral.amazon.com by logging into your seller account. The form is readily available beginning January 31 of each year or the day after January 31 if it falls on a holiday. 

Amazon also allows the sending of the file via email and even a hard copy through delivery. Just make sure to provide the correct addresses in your tax interview. To avoid missing the hard copy through your mail, always update the address details if there are any changes. 

Meanwhile, you can get a preview of the forms W-9, W-8 BEN, W-8BEN-E, and 1042S on the tax interview page.

4. What do I need to prepare for the tax interview?

The Amazon tax interview will involve questions and answers you’ll accomplish on your seller account on Amazon Seller Central.

US sellers need to prepare their business TIN, while non-US sellers must prepare an income tax identification number issued from their country. If you are part of the people and groups who are tax-exempt, you need to prepare your tax-exempt certificate too. 

amazon tax form

5. How can I use the Amazon 1099 form?

You can use Amazon 1099 for your income tax return. A tax expert can deduct refunds from the unadjusted gross sales for you to pay taxes based on the actual money you’ve earned.

Aside from this, there is plenty of essential data collected by Amazon like sales fulfilled by sellers, sales through Fulfillment by Amazon, shipping payment, gift wrapping payment, and more! When included in the books and reports, these are helpful data that can give you a full view of your business.

Bookkeeping and Accounting Assistance

It is best to partner with experts if you will use the Amazon 1099 for your income tax return. Bookkeepers and accountants can use the data Amazon gathers to further understand your business finances. In doing so, you can reap these benefits:

Checking Amazon 1099 for income tax purposes

Filing income tax returns involves monitoring your income and expenses throughout the tax year, including details from your Amazon 1099. You can skip the worry of paying more than you should because they will deduct the refunds from your gross income jotted on Amazon 1099. Bookkeepers will ensure all details in your books are accurate.

Accounting and bookkeeping software integration

By keeping all your data in a single software, tracking will be easier. A bookkeeping and accounting agency can integrate their software with Amazon to extract data the platform provides, like inventory information, sales, shipping costs, and fulfillment charges.

Making sense of the numbers through reports

After all the data is in the books, an Amazon accountant and bookkeeper will work together to create financial reports. Report generation is easier because the agency has reliable bookkeeping and accounting software. As a business just starting out, you should check your store’s financial health as often as possible to enact necessary adjustments or continue best practices. 

Partner With Unloop!

As an Amazon seller, taxes and obligations will be a part of your life. This includes understanding the different Amazon tax forms, what’s included in them, which one you need, and how to accomplish them.

It is also important for you to know that you can make the most of the financial data you get from Amazon with the help of a bookkeeping and accounting agency. At Unloop, we can help you file your income tax returns, integrate with accounting and bookkeeping software, and make sense of your data through reports. So book a call with us now to learn more about how we can help you manage your Amazon business!

Read more

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About unloop
Unloop is the first and only accounting firm exclusively servicing ecommerce and inventory businesses in the US and Canada. With the power of people and technology, our team dives deep into COGS and inventory accounting.. You are paired with a dedicated bookkeeping team that prepares accurate financial statements, financial forecasts, and can also pay bills or run payroll for you. Come tax time, everything is organized and ready to go, so you don't need to worry. Book a call with an ecommerce accountant today to learn more.
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