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 the matching process easier.
1. Reconciling Single Invoices / Payments
STEP 1. First, make sure you have selected the proper bank/credit card account under each marketplace in Connections in taxomate.
STEP 2. In QuickBooks, select Banking on the left side.
STEP 3. Find the Amazon deposit for the invoice/payment you want to reconcile.
STEP 4. Select Confirm to reconcile your invoice/payment with your bank deposit.
If Match is not shown, select Find Match to search for the invoice/payment.
2. Reconciling Split Invoices / Payments
If you have split invoices turned on, taxomate will send two invoices where the settlement spans two months (e.g., Sep 19, 2019 - Oct 3, 2019). If you do not have the "receive payment" option turned on in taxomate, QuickBooks may not automatically reconcile, making the matching slightly different.
STEP 1. As with single invoices, select Banking on the left side and find your Amazon deposit.
STEP 2. If using the "receive payment" option, QuickBooks will usually automatically match to the deposit and you should see a Confirm button.
If not, select the deposit and then select Find Match in the dropdown. Select the two invoices (or single payment) sent to QuickBooks. The difference should total $0.00.
STEP 3. Click save and you will see a Transaction Matched notification.