[Now Closed] Ask Amazon - Get answers on tax season and managing finances on January 22
MARK YOUR CALENDARS: Join us on Thursday, January 22, from 8am - 5pm PST, for a live Q&A session with members of the QuickBooks team, where we'll dive deep into preparing for tax season and managing your finances in Seller Central.
Whether you're a new or seasoned seller, this is your chance to:
- Get expert answers to your pressing questions as you prepare for tax season
- Share your experiences and learn from fellow sellers
- Provide direct feedback to the Intuit team
_______________________________________________
📚 Key Information:
QuickBooks insights now live in Seller Central
Use QuickBooks Online in Seller Central to view your Amazon sales, fees, expenses, margins, and inventory in one place for better financial visibility.
You can now use QuickBooks Online directly in Seller Central to get a better view of your sales, fees, expenses, and cost of goods—all in one place. It also helps you understand what’s affecting your margins. And if you want to keep an eye on stock levels, you’ll see inventory data right in the same view. If you sell on other channels, those sales appear in the same dashboard, giving you a bigger picture of your business.
Setup only takes a few minutes, and new users can start with a free 3-month trial.* For more information, go to link.
*Free trial for new QuickBooks Online customers; terms, conditions, pricing, and offer details apply. See full offer terms.
_____________________________________________________
💡 Submit questions below!
Post all your questions below! Our partner team will be reviewing the questions that come in throughout the day (as well as those submitted in advance), and we’ll do our best to respond as soon as possible during the day of the event.
In the meantime, let's keep the conversation going! Share your top tips for new sellers preparing for tax season, and let's build momentum heading into the January 22nd Q&A session!
_____________________________________________________
Note: We cannot provide legal advice or otherwise interpret regulatory requirements on situations that are specific to individual sellers. General information provided as part of these forums are for educational/informational purposes only and should under no circumstance be construed as:
- Legal, tax, or accounting advice
- An interpretation of federal, state, local, or international tax laws or regulations
- Guidance specific to your individual business circumstances
- A recommendation to take or refrain from any particular action
Sellers should consult their own attorney/tax advisor/accountant prior to taking any action based on information provided as part of these forums.
[Now Closed] Ask Amazon - Get answers on tax season and managing finances on January 22
MARK YOUR CALENDARS: Join us on Thursday, January 22, from 8am - 5pm PST, for a live Q&A session with members of the QuickBooks team, where we'll dive deep into preparing for tax season and managing your finances in Seller Central.
Whether you're a new or seasoned seller, this is your chance to:
- Get expert answers to your pressing questions as you prepare for tax season
- Share your experiences and learn from fellow sellers
- Provide direct feedback to the Intuit team
_______________________________________________
📚 Key Information:
QuickBooks insights now live in Seller Central
Use QuickBooks Online in Seller Central to view your Amazon sales, fees, expenses, margins, and inventory in one place for better financial visibility.
You can now use QuickBooks Online directly in Seller Central to get a better view of your sales, fees, expenses, and cost of goods—all in one place. It also helps you understand what’s affecting your margins. And if you want to keep an eye on stock levels, you’ll see inventory data right in the same view. If you sell on other channels, those sales appear in the same dashboard, giving you a bigger picture of your business.
Setup only takes a few minutes, and new users can start with a free 3-month trial.* For more information, go to link.
*Free trial for new QuickBooks Online customers; terms, conditions, pricing, and offer details apply. See full offer terms.
_____________________________________________________
💡 Submit questions below!
Post all your questions below! Our partner team will be reviewing the questions that come in throughout the day (as well as those submitted in advance), and we’ll do our best to respond as soon as possible during the day of the event.
In the meantime, let's keep the conversation going! Share your top tips for new sellers preparing for tax season, and let's build momentum heading into the January 22nd Q&A session!
_____________________________________________________
Note: We cannot provide legal advice or otherwise interpret regulatory requirements on situations that are specific to individual sellers. General information provided as part of these forums are for educational/informational purposes only and should under no circumstance be construed as:
- Legal, tax, or accounting advice
- An interpretation of federal, state, local, or international tax laws or regulations
- Guidance specific to your individual business circumstances
- A recommendation to take or refrain from any particular action
Sellers should consult their own attorney/tax advisor/accountant prior to taking any action based on information provided as part of these forums.
27 replies
Seller_xo4Akj7FBBnfC
We won’t be able to join the Q&A, but we’d appreciate it if the Mods could ask Intuit why our QuickBooks Desktop license costs have increased from around $250 in 2022 to roughly $1,000 per year today, despite no material changes we’ve seen that affect our day-to-day use.
When we first purchased QuickBooks in 2009, it was sold as a “paid-up” license, with no disclosure that bank statement downloads would someday be disabled unless customers accepted whatever recurring annual license fees Intuit imposed. We’d be happier using the 2009 version except for that.
Because migrating years of accounting data to another platform is complex and disruptive, this leaves long-time users with an increasingly painful choice.
Seller_U8pwk2Jogk9hg
I currently post monthly journal entries using the Amazon monthly summary reports. I would love to have daily real time line items captured(fees, shipping, returns). I understand this is possible? However, I am scared to make the transition for fear of tearing up my books is there a sandbox I can use to see how the connections would work before going live?
Seller_xo4Akj7FBBnfC
Good question! We’re following this thread to see the answer.
In our experience, the more complex a QuickBooks feature is with respect to how it integrates with day-to-day operations, the more unwieldy and less useful it tends to be. For that reason—and given Intuit’s repeated, steep license fee increases—we limit our use of QuickBooks to the core Desktop functionality we adopted in 2009.
Any QuickBooks add-on that claims to manage Amazon sales, fees, expenses, and cost of goods deserves especially close scrutiny from the business owner.
@Roberto_Amazon: the Intuit Amazon Seller Connector by QuickBooks product page says this add-on is "free to all QuickBooks Online customers" but given that your post says "users can start with a free 3-month trial" does that mean that users can expect the usual aggressive, recurring Intuit price increases soon after?
Seller_LVZcgxAgZ2xBv
This was an issue with QBO's official PayPal integration for years. It was a mess to the point of being unusable. They apparently updated it in the last year or two but I haven't dug into it.
Intuit, like Amazon, is one of those platforms that I do not trust to do right by my business. New features are designed to benefit the platform, not small businesses, and are often poorly designed or broken from the get go (see: CSBA, AWD, etc.)
Seller_LOzSWLqOyjbpU
I was wondering whether Amazon is a marketplace facilitator that collects sales taxes on my behalf as the seller for products I sell through FBA and remits those sales taxes to the appropriate cities, counties, and states. If so, where can I find the documentation for this? Also, is this a video chat because I cannot find the link?
Seller_zSWez2Mzpdboa
Why is it that the data being imported into QBO, does not integrate with Inventory, are automatically reduce inventory, when an item is sold, and add back when an order has been returned?
Seller_xo4Akj7FBBnfC
Given Intuit’s aggressive price increases for basic QuickBooks functionality, I suspect that @Seller_LVZcgxAgZ2xBv and we are not the only frustrated users.
Please visit this new thread where I hope that former QuickBooks users will share their experiences transitioning to more stable, predictably priced accounting platforms.
Seller_f1ymOEnLrdXKk
Will Amazon have access to any other financial information, other than financial information strictly related to Amazon?
examples include:
Labor,Overhead,Costs, R&D, Donations, Depreciation, Non-Amazon Sales Channels/Revenue Streams/etc
Seller_ZEPlYEkQ3oXF3
You new Quickbooks integration to Seller Central looks amazing but I can't get it to load. All of my other 3P Apps load but the Quickbooks Business Profitability Insights just shows 4 dots spinning in a circle. I've let it try to load for multiple hours and it never finishes! Is there a trick?
Roberto_Amazon
Hi Sellers,
This Ask Amazon session with the QuickBooks team has officially concluded, with the team no longer available to answer new questions for this event.
If you have additional questions about preparing for tax season or managing your finances in Seller Central, please include them in a new thread within the Account Setup category, and we will work to get you an answer over on that post.
Thank you so much for joining us today!
Roberto
