QuickBooks Online For An Amazon Merchant Store

This Amazon Learn QuickBooks Online video training tutorial will give you an introduction to this special playlist that will give all amazon Merchant sellers everything they need to know if they are using QuickBooks Online. It will tell you the topics in the playlist and what to expect from the whole course.

This Amazon Learn QuickBooks Online instructional lesson will Show you how to input the specific accounts, in the chart of accounts, that an Amazon online merchant seller would need if they are using QuickBooks Online. Any item listed in the bi-monthly deposit statement should have its own account in the chart of accounts. This way, all items can be recorded and tracked in to their own category of income or expense.

This Amazon Learn QuickBooks Online training class will show you how to record the bi-monthly deposit that Amazon puts in to your bank account as a result of sales you made from your amazon online platform. This deposit comes from the bi-monthly statement that amazon gives each merchant seller to explain to them the amount that was paid out to their bank account. It includes product charges that represent the gross amazon sales of merchandise, as well as fees and deducted expensed that result from selling your inventory on Amazon. This is the main amazon transaction and if you record it the way it is shown here, you will always know your gross profit and net income from sales in your amazon store.

This Amazon Learn QuickBooks lesson explains how the “periodic inventory system” works for your Amazon Online Store. Since you cannot keep a continues running count of the quantity of your merchandise as it comes in and goes out, you must use the periodic inventory system. This system requires that you physically count and value your inventory on hand at the end of each month. You must find the amount that you paid for the inventory on hand each month. Then, you will have to make 3 adjusting entries to properly calculate the cost of goods sold. That’s what you paid for the goods you sold the customer. Then, you will subtract that from your gross sales to find your gross profit from selling merchandise.

This Amazon Learn QuickBooks Online training class will show you how to make the monthly inventory adjustment to find the cost of goods sold. You must properly calculate the cost of goods sold in order to find your gross profit and net income. The calculation and adjustment comes from the standard monthly adjustment procedures of a merchant seller or store that uses the periodic inventory system. If you follow these steps, your profit and loss will always be correct every time.

This Amazon Learn QuickBooks video training tutorial you will learn 2 things: how to make the beginning inventory adjustment if you had inventory available to sell before you started using QuickBooks, AND you will get an overview of the Amazon Inventory Lab. This Inventory lab is an add on app that Amazon charges about $50 per month to Amazon merchants so that they can see and manage the merchandise that they sell to their final amazon customers. This video is a brief overview of what it is and how it works. Only an overview is necessary to at least see how to identify your purchase costs of the ending inventory so that you can use that number to adjust and calculate your cost of goods sold and your gross profit.

This Amazon Learn QuickBooks Online training class will Show you how to record all non-amazon related expenses that most any merchant store would have. This will help complete the playlist for using QuickBooks online for an Amazon seller who uses the Amazon platform. Any company has to pay general, normal expenses. If Amazon selling is the only business operation that you record in your QuickBooks Online Account, then all you need is this video with the others in the playlist.

This Amazon Learn QuickBooks video training tutorial you will learn, in QuickBooks online, how to make your “unavailable balance” asset account equal to exactly the amount that you will receive in the future. If you began doing the QuickBooks dude procedures for your amazon online merchant store, then the amount withheld for unavailable balance was zero in the first deposit statement. Therefore, your balance in your QuickBooks records would match the balance shown for unavailable in the bottom of each amazon statement. But, if you started doing the QuickBooks dude procedures when you already had some money in the unavailable balance, then your account in QuickBooks is not Showing the actual amount receivable in the future from amazon. The way to correct this is to make a journal entry that corrects the balance of your asset account and the balancing account. All set up journal entries use the ‘opening balance equity” Account to establish beginning balances.