Sales, fees and stock that match your books
Your store and marketplaces sell all month, and at month end the payouts, fees and refunds do not match QuickBooks. Once your systems are connected, they reach your books the same way every day, so month end becomes a check instead of a hunt.
What should reach your books, and where
Each of these has its own place in the books:
- Orders: what was sold, to whom and through which channel.
- Refunds, matched to the original sale.
- Payouts: what each platform paid into the bank, and when.
- Platform fees: commissions, fulfillment fees and advertising.
- Sales tax a marketplace collected for you, kept apart from tax you collect yourself.
- Shipping charged and shipping paid, and the cost of goods if your books track it.
One payout, from bank to books
A payout rarely equals the sum of its orders. Here is one payout from start to finish.
- Automatic
Amazon pays $8,370.60 into your bank, and the payout report behind it is read line by line.
- Automatic
The report shows $10,950.00 in sales, less $1,642.50 in fees, $615.40 in refunds, a $279.50 reserve and a $42.00 adjustment.
- Automatic
QuickBooks gets one deposit of $8,370.60, with each part posted to the account your accountant chose.
- Automatic
The deposit matches the line in your bank feed. The $42.00 adjustment matches no order, so it is flagged.
- Person
Before month end, your bookkeeper looks into that one line instead of hunting through every payout.
- Automatic
- The system does it
- Person
- A person checks or acts
Accounting systems and ERPs we connect
Some ERPs also hold the stock. Then every channel follows the ERP: items, prices and availability go out, and orders flow back in.
QuickBooks Online or Desktop
Sales, refunds, fees and payouts, each posted to its own account.
Xero
Invoices, payments, refunds and fees, with payouts ready for bank reconciliation.
NetSuite
The books, and often the stock as well: sales orders, fulfillments and invoices.
Business Central
Sales orders, items and stock as well as the ledger.
Posting rules first: how we set it up
- 01
Posting rules
Your accountant decides which accounts sales, fees and payouts go to.
- 02
Connect
Your stores, marketplaces and payout reports are connected to your accounting system or ERP.
- 03
Test with a real month
A month of real payouts runs through and is checked against the bank.
- 04
Go live
From a date you choose, sales, fees and payouts reach your books on their own.
Questions about your books
Should every order go into the books, or a daily summary?
It depends on your volume and your accountant: order by order when orders are few or for B2B invoices; a daily summary per channel when there are many marketplace orders.
How are marketplace fees and payouts recorded?
Each payout is recorded as one deposit, with fees, refunds and reserves posted against it, so it matches the bank.
QuickBooks Desktop or Online: does it matter?
Both can be connected. The way we connect differs; the result does not.
Next step
Contact us about your books
Tell us where you sell and which accounting system or ERP you use.