QuickBooks developer, Intuit, recently announced the QuickBooks integration with Amazon. This integration will provide small and medium enterprises an opportunity for automatic purchase. This allows automatic import of all Amazon Business into QuickBooks. It will also reduce manual data entry as all the transactions and purchase details will be included automatically.
Benefits of QuickBooks integration with Amazon
The amalgamation of QuickBooks and Amazon provides a better categorization of products and items with less time consumption on manual data entry. This results in a better understanding of business expenses.
By integrating Amazon Business with QuickBooks Online, Companies can have the advantage of gaining a better understanding of income, expenditure, and the overall functioning of the business. Each product purchased via Amazon Business can be categorized separately and compare it with bank details in QuickBooks.
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This even works when a customer returns a product to Amazon Business. The integration helps both the small businesses and accountants in reducing their hassle.
The QuickBooks and Amazon Integration helps small businesses to buy products from Amazon to allow their business growth and able to enter the data automatically. Small businesses need to do to keep their books up-to-date and will help in the simplified lives of small business owners and accountants.
QuickBooks Self-Employed allows users to categorize your business transactions that are imported from Amazon Order information for an easier experience. The feature is currently only available via QuickBooks Self-Employed labs.
Steps to integrate your Amazon Account:
- Go to the gear in the upper right corner.
- Choose Labs.
- Click Turn It On.
- Type your Amazon credentials.
- Click on ‘Allow’ the connection to complete.
Also Read: QuickBooks Tool Hub
Benefits of QuickBooks and Amazon Integration Account;
- Focus on business growth and expansion.
- Wide variety of products and features.
Some things to keep in mind:
- There will be no creation of new transactions. The current bank details and transactions are being processed to match the orders.
- For the appearance of Amazon order details in QuickBooks Self-Employed, you use to buy products on Amazon, you must have linked the account.
- If the account is not linked, No appearance will be shown of the transaction details as it will not match the transaction.
- If two Amazon accounts are in use, The items purchased with the payment method linked to QuickBooks Self-Employed will show up in QuickBooks Self-Employed only.
- No appearance of the items with a gift card or additional promotional credit.
- Even if you turn off the Amazon integration, only the disappearance of the original order items will take place from the transaction, after the split transaction.
When dividing in QuickBooks Self-Employed, the transaction set to a split by item, with the proportional allocation of shipping and sales tax for the order across the items. The sales tax and shipping tax will appear as separate expense lines.
This article covers maximum possible information about QuickBooks and Amazon Integration. If you have any queries or want any QuickBooks Professional help, you can contact via Chat.