Should I use QuickBooks Journal Entries or Sales Invoices?


By Michael Schwartz

updated 23 days ago

By default, taxomate sends settlements to QuickBooks Online as Journal Entries linked to a single deposit. We have found this to be the easiest way to get started with QuickBooks integration. Journal Entries can be used without having to understand the various validation issues that may arise with Sales Invoices.

One thing to keep in mind is if you are using journal entries, your sales information will not show up in the dashboard of QuickBooks. However, you will still be able to properly run any report (e.g., Profit and Loss) using the imported Amazon data.

Most advanced users and accountants prefer using Sales Invoices. Sales Invoices also allow taxomate to add more details (e.g., invoice customers). Settlements, where you owe Amazon/Shopify/eBay money (or split negative settlements), will be sent as credit memos.

The sales invoice data on the QuickBooks dashboard will be the amount(s) Amazon/Shopify/eBay paid you (not your gross sales). You will be able to find the data you need within the QuickBooks reports (e.g., Profit & Loss, Balance Sheet, etc.).

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