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Integrating Your Ecommerce App with QuickBooks Online: A How-To Guide for Marketplace Facilitators and Payment Processors "Sellers Data Gold"

Updated: Feb 17

Ecommerce app mapping to QuickBooks Online: What every seller needs to know.

 

Location: in QuickBooks Online is Origin (warehouse, inventory, store, business office, employees, tradeshow, sellers location)

Sales Tax NEXUS Tracking

QuickBooks first checks Ship to (destination) then Ship From (origin)

States that follow an origin-based sales tax system (charge at the rate of the seller's location) include:

Origin Based Sale Tax System

NOMAD States-No Sales Tax

Arizona

New Hampshire

Illinois

Oregon

Mississippi

Montana

Missouri

Alaska

New Mexico

Delaware

Ohio

 

Pennsylvania

 

Tennessee

 

Texas

 

Utah

 

 

Items:  Products and Services in QuickBooks Online are:


1.     Inventory Products

2.     Non-Inventory Products *for Shipping Income (check local jurisdiction laws)

3.     Services

4.     Bundles (Multi-Product)

Items are associated with a (select one or both, purchase or sell)

1.     Income-Sales Price (taxable or non-taxable)

2.     Expense-Purchase Price (or COGS or COS) *optional Vendor Name and SKU

3.     Sales Tax (Taxable based on location of the buyer (ship to-destination) or default to origin based, or custom rate.

4. Quantity of items in stock


Category Other Fees: (Service Expense Item: Cost of Sales)

(Setup items for the income statement categories below)


  1. Payment Processing Fees

  2. Platform or Marketplace Fees

  3. Shipping Fees

  4. Currency Conversion Fees

  5. Return and Refund Fees

  6. Subscription or Membership Fees

  7. Integration Fees

  8. Advertising Fees

  9. Storage Fees

  10. Discounts and Refunds (contra income)

  11. et......


Customer Name: A critical component of any business

(Tax Exempt Requires a Tax Exempt or Resale Certificate)


1.     Revenue Generation

2.     Profitability

3.     Brand Reputation

4.     Market Feedback

5.     Brand Loyalty

6.     Business Growth

7.     Adaptability

8.     Competitive Advantage

9.     Repeat Business

10.  Customer-Centric Culture


Payment Method:

  1. Cash

  2. Credit Card

  3. On Account (Accounts Receivable/Invoice, not Sales Receipt)

  4. Crypto Currency

 

Document Mapping:

1.    Data import to a Sales Receipt, deposited to undeposited funds, per sale

(or per day: batch close).

2.    Followed by a deposit to your bank account and bank feed matching!


*Sale receipts-sales tax is due on receipt, even if funds are undeposited.



3. If Products and Service Items are returned a Credit Memo should be issued following the same steps as above on the sales receipt and applied to the correct customer transaction.



Integrating Your Ecommerce App with QuickBooks Online: A How-To Guide for Marketplace Facilitators and Payment Processors
Integrating Your Ecommerce App with QuickBooks Online: A How-To Guide for Marketplace Facilitators and Payment Processors