QuickBooks Support

QuickBooks Support

General

How do I create a new invoice customer for QuickBooks?

You can create an invoice customer from within taxomate. To create a new customer head over to  Settings > Connections   or the payments tab in Quick Setup. Select the invoice customer dropdown and then  Create New. You can choose any name you...

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By Michael Schwartz

updated 21 days ago

Should I use QuickBooks Journal Entries or Sales Invoices?

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...

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By Michael Schwartz

updated 21 days ago

How do I use QuickBook Classes marketplace tracking in QuickBooks?

taxomate integrates with QuickBooks Online's Classes. This is helpful if you want to separately track your transactions for each country Amazon marketplaces and run Profit and Loss reports. STEP 1: Setup Classes in QuickBooks For QuickBooks Online...

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By Michael Schwartz

updated 21 days ago

How to use QuickBooks Classes for Transaction Types

taxomate integrates with QuickBooks Online's Classes so you can track by transaction type. STEP 1: Setup Classes or Tracking Categories For QuickBooks Online, you have to set up classes. Click  here  for directions. STEP 2. Map to Classes or...

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By Michael Schwartz

updated 21 days ago

Why is my QuickBooks journal entry name defaulting to my previous accounting service?

If you are switching over from another Amazon accounting software (e.g., a2xaccounting) and using QuickBooks with journal entries, the names of the journal entries sent from taxomate may default to the names of your previous software. For example,...

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By Michael Schwartz

updated 21 days ago

How are negative invoices sent to QuickBooks?

Sometimes settlements/payouts are sent to QuickBooks with fees and costs being higher than the revenue (negative settlements). This usually occurs when the settlements span more than one month, and split settlements are turned on in your settings...

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By Michael Schwartz

updated 21 days ago

How do I unlock a closed period in QuickBooks?

STEP 1. Click the Gear Icon. STEP 2.  Select Account and Settings. STEP 3.  Go to the Advanced tab. STEP 4.  Under the Accounting section, put a check mark in the Close the books box. STEP 5.  Enter the Closing date. STEP 6. Set whether a...

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By Michael Schwartz

updated 21 days ago

What is the "Receive Payment" Option for QuickBooks Invoices?

If you are sending invoices (instead of journal entries) to taxomate using QuickBooks, we provide you with the option to  record (receive) payments  linked to your settlement invoices: We have found this to be very helpful in reconciling split...

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By Michael Schwartz

updated 21 days ago

How do I add my bank account or credit card in QuickBooks Online?

OPTION 1: Directly Connect a Bank or Credit Card Account STEP 1.  Go to the  Banking  menu or  Transactions  menu. STEP 2.   Select the  Banking  tab. STEP 3.   Select  Connect Account   on the landing page if this is your first time connecting....

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By Michael Schwartz

updated 21 days ago

How do I delete a journal entry or sales invoice after sending to QuickBooks?

After you send a settlement to QuickBooks taxomate allows you to remove the sales invoice (or journal entry) within the app. OPTION A. Delete Single Invoice/Journal Entry STEP 1.   To get started, make sure the invoice/journal entry has not been...

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By Michael Schwartz

updated 21 days ago

How do I create a Cost of Goods Sold account and an Inventory Asset account in QuickBooks?

taxomate automatically creates a Cost of Goods Sold account and an Inventory Asset account when you run Quick Setup. Here are the steps for creating your own accounts. STEP 1. Go to Chart of Accounts in QuickBooks Online Ledger accounts are...

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By Michael Schwartz

updated 21 days ago

How do I create a clearing account in QuickBooks?

Unfortunately, QuickBooks doesn't allow you to send over an invoice or journal entry if you have more than one foreign (non-home) currency in the transaction. This means that if Amazon converts your payment to a currency that is not your home...

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By Michael Schwartz

updated 21 days ago

Amazon

Can I convert a foreign Amazon marketplace currency to my home currency in QuickBooks?

The multicurrency feature and foreign currencies are available in QuickBooks Online Essentials, Plus, and Advanced. All settlements are imported into taxomate and sent to QuickBooks in the currency of the country marketplace (unless the...

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By Michael Schwartz

updated 21 days ago

What QuickBooks accounts do I select in payment settings for Amazon?

If you have attached QuickBooks to taxomate, you will see the options to select bank/credit accounts in the last step of the Quick Setup. IMPORTANT : Please connect your bank account to QuickBooks where you receive your Amazon payments and pay...

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By Michael Schwartz

updated 21 days ago

How do I Reconcile Sales Invoices with Amazon bank payments in QuickBooks?

Settlements can be imported to QuickBooks as Sales Invoices, which can be matched up against your bank deposits. We recommend using the option in Settings > Invoice in taxomate that allows you to link the sales invoice to payment in order to make...

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By Michael Schwartz

updated 21 days ago

Troubleshooting / Other

QuickBooks: Business Validation Error: Transactions can have only one foreign currency at a time.

Potential Solution 1 :  Turn on multicurrency in QuickBooks You are going to want to follow the steps in this article to turn on  multicurrency  in QuickBooks. Potential Solution 2:  If multicurrency is enabled in QuickBooks, next check to see if...

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By Michael Schwartz

updated 13 days ago