Utilizing Amazon Business
QuickBooks Online has rolled out a new feature that will bring in all of your purchases from Amazon Business into your books, so that we can review and categorize each item with ease and accuracy.
Amazon Business is a free, separate account from your regular Amazon account. The convenience of Amazon is still there, but now there are additional features that are tailored to supporting businesses. A few points:
You would have to separately enroll in Amazon Prime for Business, which is $179 per year.
A separate Amazon account for your business decreases the probability that you accidentally purchase something personal on your business account.
Add Team Members and assign their roles within your account. Your Office Administrator or Purchasing Manager can have their own access to place orders or view orders.
Amazon Business prompts you to enter Purchase Order numbers for each transaction for organization and clarity for each purchase.
The best part about this integration? Each Amazon purchase downloads to your QuickBooks Online account as individual products. This means that your Account Manager will be able to make determinations about Office Supplies vs. Cost of Goods Sold, for example, without every Amazon purchase ending up in the Uncategorized Transactions category.
If you keep up with Project/Job Cost Tracking, we can tag individual items to your clients so that information will also be on your Project Profitability Reports.
We highly recommend that everyone transition their Amazon account to Amazon Business. This will streamline your bookkeeping process significantly, as well as drastically reduce the amount of work you have to do on the back-end to categorize each transaction at the end of the month.
This is a great video that explains how QuickBooks Online + Amazon Business work together: https://www.youtube.com/watch?time_continue=49&v=KgFy3zqiAp8&feature=emb_title.
Please contact your Account Manager if you would like to integrate your Amazon Business account to QuickBooks Online.
For more information, visit this link: https://quickbooks.intuit.com/online/integrations/amazonbusiness/?cid=par_amazon_amazonbusiness_QBO_mpublog_sep_2020_co-us&fbclid=IwAR0RB9wwMfU4s8WupvLQj2-erMDllCn9Y8YTxEX-uZ2u5xYZV5q_L8dfDtY
