By utilizing the Amazon Fulfillment by Amazon (FBA) program, a person has the ability to sell products through the Amazon platform and run their own business. Amazon takes care of the picking, packing, and shipping of orders and eliminates the need for generating traffic to a website. However, like any business, financials must be kept up to date for tax planning and preparation. QuickBooks provides this solution, and with the QuickBooks online integration accounting capability, it makes it easier and more efficient to utilize an app like Entriwise to manage the import of data from Amazon to QuickBooks
Entriwise Syncs Data With QuickBooks
Entriwise comes in three versions, which are Basic, Lite, and Pro. The difference in the plans is listed below:
- Basic: Summarizes Amazon transactions
- Lite: Itemizes Amazon transactions for non-inventory items
- Pro: Itemizes Amazon transactions and includes accounting for inventory
Running a business is tough enough with the responsibility of sourcing inventory and managing any employees. When a business owner has to take care of bookkeeping, it may not be one of their strong points thus financial errors are common. The function of Entriwise is to automate the accounting for a business that's using Amazon's FBA program. This is a huge benefit as it allows Amazon and QuickBooks to sync together via QuickBooks online integration accounting function. The syncing of data ensures that the information that is transferred to QuickBooks reconciles 100 percent with the transactions that are made on Amazon, which saves a business owner time and a lot of frustration.
Assistance With Tax Planning And Preparation
While Entriwise makes it much more efficient to enter data into QuickBooks, there is still the challenge of preparing financials, which ensures that a business is ready for tax season. Our e-commerce accountants specialize in bookkeeping and tax planning. We provide an excellent accounting outsource service for busy businesses that need to focus on scaling their growth. We can help a business account for refunds, orders disposal fees, adjustments, reimbursements and seller fees.
Analyzing Your Business With A CFO Advisory Expert
To succeed as a business, it takes constant analysis and making the right decisions. Our CFO advisory service provides accounting experts that are experienced in helping businesses plan for the short-term and long-term. Having a CFO available to help develop strategies for important aspects of your business such as product positioning, pricing and inventory are invaluable. We provide accounting reports that are fully detailed and can assist with crucial decisions that help make sure that expenses are minimized.
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.