1-Click Accounting for Amazon allows you to see a complete list of orders from the current settlement period:
- View orders that have been paid for or payment has been received from Amazon
- View what the expenses and fees for each order
- Keeps 100% accurate accounting by syncing the fees and refunds within a settlement report
- Downloads orders that are included within the settlement report - include missing orders
- Settlement report is posted into QuickBooks Online as a deposit that must be reconciled manually within Quickbooks Online
Activating 1-Click Accounting within Unify
If you have directly connected your Amazon store as a channel this feature is available within Unify. To activate this feature, click on the settings widget which will take you to the settings area and select Marketplace fees in the sync expenses area.
In the Marketplace Fees area, in the option of "Use the same settings for all sub-channels" select no. Then activate the options of Posting marketplace fees and Enable settlement posting (as shown below):
If you have multiple sub-channels within your Amazon account (as shown above) they will all be displayed, which means you can setup 1-click accounting for Amazon for each individual sub-channel within your Amazon seller central account.
Part 1: Setting up 1-Click Accounting for Amazon
Since 1-Click accounting for Amazon posts the settlement report, all orders and refunds and ensures that there is a correlation of the items in Amazon with the items in the accounting system, Unify displays those relevant data-points again in this area. You may have to readjust your core settings in context of the 1-Click Accounting for Amazon, in this area.
Step 1: Item matching criteria settings (Inventory data points)
Note: QuickBooks Online uses the product name and SKU in an interchangeable way. If the data in your product name field in QBO match the data in the SKU fields in your online sales channel, then choose Product name in the accounting dropdown.
Step 2: Accounting and refunds setting (Transaction data points)
In the process of posting the settlement report to QuickBooks Online, it will also post the corresponding orders contained within the settlement report. If you have made initial settings in the accounting settings area, you can adjust them here in the context of 1-Click Accounting for Amazon.
2a. Use the same type of transaction for all sales: Single transaction type which means the using the same type of transaction configured in the field below for all orders
2b. Select type of transaction to record sales: When 1-Click Accounting for Amazon is activated a single transaction type can be used for posting sales in QBO. If you have configured your sales to be created as different transactions based on payment method - enabling 1-Click Accounting for Amazon will override this feature for the channel are configuring
2c. Transaction type to record refund: Refund receipt will be selected by default to record refunds in Quickbooks Online. This is for posting orders as they are downloaded and post to the undeposited funds account
2d. Account to Record sales revenue and Refund: This is the account that the settlement report bill is applied to. This bank account and the undeposited funds accounts will be used to reconcile the data in QBO.
2e. Select Sales Deposit Account: This is a bank account with QuickBooks Online which you use as a clearing account to record the amount for orders (sales) as they are posted to QuickBooks Online from Unify.
Step 3: Sales tax settings (Taxation data points)
3a. Select a sales Tax item: This should be the tax item you have setup in QuickBooks Online to handle the taxation amount within orders.
Step 4: Other transaction data points
4a. Record gift wrap charges in QuickBooks: this will be checked by default
4b. Use the line item to record gift wrap charges in QuickBooks: Customers in Amazon frequently (or not) request the gift wrap option when creating an order. This will be activated by default to ensure that Unify doesn't miss any important accounting data (just in case they do) when the settlement report, orders and refunds are posted to QuickBooks Online.
Step 5: Things to consider
This area is just a note about the settings modifications in relation to the data that is modified in this area. Unify will consolidate all sales into a single transaction based on order date.
Step 6: Setting up settlement report is posted to QuickBooks Online
6a. Select type of transaction to record expense (Bill): this would be a the paid bill generated when the settlement report is posted into QBO.
6b. Select type of transaction to record expense (Expenses): choosing this account type would enable the bill that is generated when the settlement report is posted, to display as an expense (liability) within the bank account used to record the net amount.
The remaining information within this area should be familiar to you if you have setup the Amazon expenses and fees in this area, prior to the new 1-Click Accounting for Amazon feature release.
Important: This feature works best for orders that are posted to QuickBooks Online after the date of enabling and setting up the 1-Click Accounting for Amazon with QuickBooks Online.
Final Step: Click save to retain the any new settings adjustments of the for transactions, items, refunds, taxes and settlement report handling with this feature. You will see a final confirmation upon saving and click YES to confirm your settings.
Next steps: Unify 1-Click Accounting for Amazon with QuickBooks Online to post your settlement report, orders (sales) and refunds to QuickBooks Online.