June 7, 2020
Selling products on Amazon is a popular option for an online business. But while setting up your Amazon store might be relatively fun and easy, keeping track of your revenue as an Amazon seller can be tricky. As an accountant, I strongly recommend QuickBooks Online for small business bookkeeping. However, when you first set up your books, the default chart of accounts has many categories that aren't relevant for Amazon sellers. But the good news is I'm going to share an easy way to deal with this.
(This information is for educational purposes only and does not constitute tax or legal advice. This posts contains affiliate links. For more information, please see my disclosures page.)
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One reason I like QuickBook Online Simple Start is its versatility. It works for many different types of online businesses, from Amazon sellers to bloggers, from service providers to brick and mortar stores. Because the chart of accounts in QuickBooks Online can be easily customized, you can create a bookkeeping system that meets the needs of your business.
In fact, you'll discover that many of the default accounts in your QuickBooks Online chart of accounts aren't relevant for online businesses while other important accounts are missing. That's why it's important to take care of setting up your chart of accounts at the outset.
In the video below, I show you step-by-step how you can customize your chart of accounts so that it has the categories you need as an Amazon seller. You can get a free copy of the csv file to upload to QuickBooks online here.
If you're an Amazon seller and have questions about the file or setting up the chart of accounts in QuickBooks Online, be sure to leave a comment on the video, and I'll answer as soon as possible.
Be sure to watch this video today so that you can easily stay on top of your business bookkeeping as an Amazon seller.
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