Accept digital payments during COVID-19 in QuickBooks
The Amazon Business Purchases app is an innovative and easy way to import all of your Amazon Business purchases into your books so you can check them all in one location.
- Manual data entry should be minimised: Retrieve and check your Amazon Business purchases in QuickBooks with ease.
- Find out more information: View the business expenses for each purchase, including product details, item prices, and fee breakdowns.
- Reconcile your books quickly and easily: Separately categorise each of your products and match them to your bank transactions.
Amazon Company blends the variety, ease, and value that Amazon consumers have come to expect with exclusive benefits tailored to companies. For personal purchases, use your Amazon.com account, and for business purchases, use your Amazon Business account.
You may have one of four forms of Amazon accounts:
- An Amazon Business account for business selection and pricing.
- A personal account for non-business transactions.
- An Amazon seller accounts for managing an eCommerce business and selling items in Amazon stores.
- An Amazon Web Services (AWS) account for cloud-based services.
This integration works with Amazon Business, where you’ll find a more thoughtful way to shop, allowing you to concentrate on growing your business. This software can be activated for the account by a QuickBooks Online Admin user who is also the primary Amazon Business administrator.
Please note that this integration does not allow personal Amazon accounts or Amazon Seller accounts.
All Amazon Business orders will be automatically imported into QBO due to the new integration, with data being refreshed several times per day. Each transaction’s purchase information, including item specifications, prices, and fee breakdowns, will be automatically included.
Each item purchased via Amazon Business can be classified and linked to bank transactions in QuickBooks. If a customer returns an item to Amazon Company, the transaction is automatically imported into QBO for analysis. Small businesses will find trades by going to the banking tab and then choosing the app transactions subtabs after connecting their Amazon Business account to QuickBooks Online. “Small companies are constantly searching for ways to run their operations more seamlessly while reducing the amount of time it takes to do so. According to Rajneesh Gupta, vice president of global enterprise partnerships at Intuit, “this incorporation helps both small businesses and the accountants who represent them better to handle a company owner’s transactions and overall books.”
“Amazon Company is used by small companies to buy a variety of products to expand their operations. This integration would simplify the data entry and reconciliation tasks that small companies must perform to keep their accounts up to date, making life simpler for small business owners and accounting professionals who support them.”
Advantages and features of an Amazon Business Account
The advantages and the features of an amazon business account are as follows:
- Find a better way to shop: Spend more time concentrating on growing your business.
- Rethink how you buy for your company: Access a diverse range of products as well as a growing collection of tools and features.
- Work on your terms: Make buying a profit generator for your business.
- Manage the company when on the go: Create invoices, take pictures of receipts, and keep track of your business’s activities from anywhere with the QuickBooks mobile app.
- Spending can be automated: Manage the bills and your vendors. Set up recurring payments for easy, hassle-free bill payment.
- Organise your spending: For automated downloads and categorisation, link your bank and credit card accounts. For smooth integration, plug into applications you already use.
- Connect to the software you’re already familiar with: Sync data from TSheets, Shopify, PayPal, and other common apps.
- Reporting with a single click: View the company’s performance in real-time. You can easily view your profit and loss statement, balance sheet, and hundreds of other reports with a single click.
- Overview of the Dashboard: As soon as you sign in, you can see your income, expenditures, unpaid invoices, and other essential business financials.
Summary
QuickBooks Desktop software is accounting software that has always been on top and is regarded by all strata of accountants and bookkeepers. The incredible thing about this particular software is that you can integrate multiple apps and software. The whole idea of this blog is to help you understand the amazon integration and all aspects along with the advantages of the same software, so please give it a good read. I hope that this blog was helpful and was worth your time.