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Anna Hill – Amazon Accounting Simplified
Amazon Accounting Simplified
A step by step program to help you build a custom accounting system for Amazon sellers using QuickBooks Online.
ARE YOU AN AMAZON OR AMAZON FBA SELLER?
Congratulations on starting and running your own business! We know how exciting it is when your products sell and you start to see those payouts. Your hard work is turning into Profit!
But we also know that when it comes to managing the financial side of the business, many people feel unprepared. And the more successful you are, the more important it is to keep your books organized, especially when it comes to tax time.
DOES THIS SOUND FAMILIAR?
You’re overwhelmed with accounting software options and are afraid you’ll pick one that might limit you down the road.
You’re confused about the difference between inventory and cost of goods sold not to mention how to track them.
It’s the end of the year and you’re not sure how to reconcile your 1099-K.
You’ve invested tons of time reading blog posts, downloading accounting resources … now, you’re on information overload AND still don’t know where to start!
DON’T WORRY, THERE IS HOPE
What if you could have:
A clear, easy to understand and consistent accounting routine you can depend on.
Built-for-you resources to adjust sales deposits, calculate/record cost of goods sold, and reconcile your Amazon 1099-K.
Confidence to be able to review and understand your financial statements.
THAT’S WHY WE CREATED THIS ONLINE COURSE…
Learn QuickBooks Online even if you know nothing about accounting or bookkeeping, we’ll teach you all our secrets!
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Amazon Accounting Simplified Online Course
Comprehensive Quickbooks Online course especially for E-Commerce sellers
Hours of step-by-step video content
Done-for-you Excel templates and downloadable reference sheets
Learn how to confidently set up and manage your books
Course Curriculum
1. Organize your Amazon E-Commerce business with Quickbooks Online
Try it! How to use the Quickbooks Online (QBO) Test Drive feature
How to choose a QuickBooks Online Subscription
Our recommendations for Cloud Storage and Filing Systems
What if My Data isn’t in the Right Format for QBO?
How to Keep Your Accounting Plan on Track
2. Setting Up QuickBooks Online Bank Feeds and Historical Data
How to Customize your QuickBooks Account Names
Editing Account Names in the Chart of Accounts
Adding New Accounts and Sub Accounts in QBO
Using Account Numbers in QBO
Cleaning Up Your Chart of Accounts
How to Connect Your Bank & Credit Card Accounts to QuickBooks Online
Manually Importing Older Transactions
Updating Connection Settings and Disconnecting
3. Establishing Opening Balances
Why Do Opening Balances Matter?
How to Use the Opening Balance Sheet Template
Entering Opening Balances in QuickBooks Online
Opening Balances and Account Reconciliations
4. All About Categorizing Transactions in QuickBooks Online
Meet the Banking Window
How to Add Vendors vs Customers
Add, Match, Transfer, and Undo – What’s the Difference?
Batch Actions – Accept, Exclude, Modify
Exclude vs Delete
How to Split a Transaction
How Rules Create Consistency and Efficiency
5. Managing PayPal and EBay Sales in QuickBooks Online
Connect to the PayPal App
The PayPal App vs the Bank Feed
Categorizing PayPal and Ebay Sales and PayPal Fees
6. Amazon Sales and Other Sales
How to Use the Amazon Sales Template
Unavailable Balances + Chargebacks
Amazon Loan – Principal vs Interest
Record Amazon Deposit in QuickBooks Online
Record Other Sales Deposits
Amazon Sales and Fees Accrual
Understanding the Amazon 1099-K
Report > What sales tax did Amazon collect for me?
7. Cost of Goods Sold
How to find COGS in InventoryLab and how to record it in QBO
How to Calculate and Record COGS if you are not Using Inventory Lab
What is the best way to track what I spent on inventory inside of Amazon Seller Central?
What happens if I have inventory that has expired, is lost, damaged, sold, or donated?
Does it really matter if I don’t know the difference between cash and accrual based accounting? What IS the difference anyway.
8. Reconciling Accounts
Welcome to the Reconciliation Window
PayPal Reconciliation
Bank and Credit Card Reconciliations
Correcting Reconciliation Changes
9 . Reviewing Work and Financial Statements
Review Your Work: The Transaction List by Vendor Report
How to Review the Balance Sheet
How to Review the Profit & Loss (Income Statement)
Profit First – Overview, Example, and Template with Explanatory Video
Schedule C Summary
Life BEFORE Amazon Accounting Simplified:
You’re stressed every time you think about doing your books
You’re not sure where to start so you don’t start at all
You’re sick of looking at piles of paperwork
You can’t stand manually entering receipts into a clunky spreadsheet
No matter how hard you try, you still feel unprepared at tax time
Life AFTER Amazon Accounting Simplified:
You have a reliable customized accounting system that grows with your Amazon business
You feel more confident in your ability to properly categorize your transactions
You are more aware of your business income and expenses
You clearly see fees associated with each of your sales platforms
You have a deeper understanding of your financial statements
What our students are saying…
“I am now confidently (and easily) taking care of my own bookkeeping (a huge money savings for a small(er) seller) and making decisions for my business based on *the real numbers*. 5 Star Rating†– Jennifer
“Wow that was easy and a life saver. I’ve made huge progress in only an hour. I’ve been unable to get much help from my CPA in several weeks. I feel like a weight has been lifted off my shoulders.†– Allan
“To anyone that is unsure about taking the course… I HIGHLY recommend it! It was a life saver. I wish I would have taken it sooner too. You’ll learn everything you need to know to be able to get your books in line..†– Michael
IT COMES DOWN TO THIS:
You can keep using your current DIY accounting approach; cobbling together a hodgepodge of unreliable financial information that does not give you confidence.
⎼ OR ⎼
You could save time and money by avoiding trial and error, follow an accounting system created by professionals specifically for Amazon sellers and experience the relief of reliable financial statements for your E-commerce business.
HOW LONG DOES IT TAKE TO CREATE
AN ACCOUNTING SYSTEM IN QBO?
The honest answer is, it depends on you and your current situation. Some students are able to complete the course in a few weeks. It also depends on how large your current Amazon business is and how organized you’ve been up to now.
Others might take a month or longer. Some of the important variables to remember are the number of accounts, number of transactions per account and the period of time your system will cover.
We recommend you set aside 2-4 hours per week to work through the program and implement the assignments.
Best course ever! Not really knowing my numbers was really negatively affecting my business.Now that I know how to do accounting I fell like I truly know how to grow a healthy business! I went from not knowing anything about QuickBooks & accounting in general and with the course I totally do understand this whole accounting process from A to Z! Right when I’m about to give up on QuickBooks, this course comes to the rescue!
Your Instructor
Anna Hill, CPA
I’m Anna Hill, CPA. I founded the 11,000 member strong Facebook group for Amazon sellers called Accounting We Will Go. I realized that the need for accounting help was substantial but with so many different types and sizes of online seller businesses there was a need for self-education on how to do simple bookkeeping for growing businesses. That’s how this site came to be. I combined my more than 20 years as a CPA licensed in Georgia with my experience of being a small-scale Amazon seller myself to create this set of online courses for small e-commerce businesses.
