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How to reconcile unpaid bills for Amazon expenses and fees in QuickBooks

This will bring all the expenses in as Bills in QuickBooks.  Then you can “Pay” the bill using the Clearing Account that we setup.




Press Select All Bills and make sure the Account is set to Clearing Account.  Press Pay Selected Bills and then it will ask you to enter a check number.  You can enter anything here, but we recommend you enter a number that references the Amazon Settlement Report Date for future reference. Now you will want to receive the Customer Payments from Amazon.  Go to the Customer, Receive Payments screen and enter the gross amount from the Amazon Settlement Report (before any expenses and fees):




Once you have received the payments, go to Banking, Make Deposits.  Select the Payment total and press OK.




Then make sure the Account is set to Clearing Account and hit Save & Close.




Now, in your Clearing Account register, it will show two entries:




The purpose of this account is to clear the amounts.  You must keep on top of this and we recommend doing one settlement report at a time.  The amount that is your register should equal the total that came from your Amazon settlement.  If there is a difference, you can make an entry directly in the register and use the Amazon Seller Fees as the account.  If there is a significant difference, you need to figure out why before proceeding.  Once the total agrees with the amount of your bank deposit, you can then “transfer” this amount to your bank account that the deposit was made to.  Go to Banking, Transfer Funds:




We recommend you put the settlement information in the Memo field and if you have the Intuit Attached Documents service, you can click on Attach and attach a pdf of the settlement report (optional).  This option should save you a substantial amount of time in dealing with your Amazon expenses and fees.  Let us know if you have any other shortcuts and tips.

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