Sometimes settlements 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.
a. Split Settlement Causing Journal Entry or Sales Invoice to Be Negative
When your sales invoice is negative, taxomate automatically attaches a credit memo to the sales invoice when sending it to QuickBooks. Additionally, if the split invoice creates one invoice that is negative, taxomate will create a credit memo.
Step 1. Select Banking on the left side and find your Amazon deposit.
Step 2. Select the deposit and then select Find Match in the dropdown.
Step 3. Select the sales invoice that was sent to QuickBooks, which will mark as partial payment.
Step 4. Head over to Sales > Invoices and select the invoice will partial payment. Attach the credit memo to the invoice.
b. Negative Settlement Causing Journal Entry or Sales Invoice to Be Negative
Step 1. Create expense by going to New and under Vendors, select Expense.
Step 2. Select amazon.com customer (or applicable marketplace) as the Payee and your credit card account as the Payment Account (or account you make the payment from).
For the payment date, select the date of the charge.
For category select Accounts Receivable and then enter the amount of charge to your credit card under Amount.
Step 3. Go to Receive Payment and select the applicable Expense, Credit Memo, and Invoice so they balance each other.