QuickBooks eBay Integration Guide: How to Get Set Up
Estimated reading time: 6 minutes.
By automating the accounting side of your business, you’ll save time, make fewer mistakes and stay on top of your numbers. These are all critical components of running a successful, scalable online business.
Connecting your ecommerce platform with accounting software just makes good business sense.
When connecting your Quickbooks and eBay accounts, you need to be aware that without a third party to offer insights about your business performance, you may be limited in what details you can see.
In this article we’ll show you how to sync your eBay store with Quickbooks and A2X, and get automatic, accurate data that offers excellent visibility over your business.
Table of Contents
The Benefits of Your Quickbooks eBay Integration
Regardless of whether you are a small, large, new or established eBay seller, you understand the value of effective accounting. You wouldn’t be here if you didn’t.
Staying on top of cash flow, invoices, bills, expenses and tax requirements is essential for survival. Setting up automation to import eBay sales into Quickbooks is a great way to save time and equip you with everything you need to grow, expand, and meet your legal obligations.
Quickbooks for eBay sellers is a great resource. Its functions include:
- Support for multiple channels - for those of you not just selling on eBay.
- Support for multiple vendors.
- Categorization and tracking of expenses.
- Generation of balance sheets, income and cash flow statements.
- Creation of invoices and estimates.
- Processing of invoices and bills.
- Processing of payroll if you have employees.
Your accounting software gives you an overview of your financials. It plays a pivotal role in your ecommerce accounting.
Integrating Quickbooks with your eBay store is a good first step towards getting automatic updates and imports, but there’s no need to stop there.
You can gain access to accurate, reliable data when you add A2X into the mix. This means you’ll get a solid view of your business to base your growth strategies on, and this ultimately can impact how successful those strategies are.
Sync eBay to Quickbooks with Ease
A2X is a connector app that sits between Quickbooks and eBay. It is simple and easy to set up, and designed so that you can effectively set and forget it.
A2X acts as your translator. It takes data from eBay and organizes it to better meet your needs as a seller when it arrives into Quickbooks.
Make sense of your eBay deposits with journal summaries
Each eBay settlement could contain numerous separate transactions. These might include various fees from the platform, sales, commissions, reimbursements, sales tax collected and more.
Without a breakdown of each of these components, figuring out where your profit margins are, whether eBay is charging you different fees, and whether you have collected enough tax can be a painstaking process. A2X handles all of this for you.
A2X imports your eBay transaction data and organizes it into summaries. These summaries break down all of the elements above, and code them automatically based on mappings that you lay out when you first set up A2X.
This way, you can design a blueprint of how you would like your accounts to look in Quickbooks, which A2X applies every time to all your imports. And it’s not limited to eBay, either - it works on multiple platforms. A2X makes your accounts simple, adequately detailed and easy to digest.
Accrual accounting gives you a dynamic picture of your business
You might find that eBay sends you statements which span different months. This can make it tricky to track your performance month to month and year to year. A2X uses the accrual accounting method to eliminate this problem.
For example: If a statement covers two months, A2X separates the information into two summaries, one for each month. By mirroring how your business actually works when it comes to cash flow and amounts carrying over into the next month, you can get a more realistic view of your financials in real time.
This will help you to make better financial decisions for your business without jeopardizing your cash flow.
Save time and base your business on the facts with automatic, accurate data
As business owners, we want to work smarter, not harder. We also want to know the honest truth about the health of our business so that our strategies have a good shot at success.
A2X takes care of the parts of your business that can be automated, ensuring that you’ll have the time to focus on what can’t. With automatic, accurate and complete books, you’ll know you have numbers that you can rely on - period.
Step-by-Step: How to Sync eBay with Quickbooks and A2X
A2X empowers you to scale and is able to scale with you, so it makes sense to start strong and sync up all three platforms.
We’ll give you a step-by-step of how it’s done:
- Follow the on-screen instructions and enter the details required. Once you have logged in successfully, you should see your A2X dashboard. Here, select “Continue to eBay” to link your eBay Seller Hub:
- You will need to log into eBay, and grant permission for A2X to access your account:
- After granting permission, you will be redirected back to A2X and your payouts from eBay will begin importing straight away. This could take anywhere from ten minutes for small stores to a few hours for larger stores:
- Next up, connect to your accounting software. Under Step 2, select “Connect to Quickbooks”:
- You will be asked to grant permission for A2X to access your accounting software, and once you agree, you’ll be brought back to your A2X dashboard. If you already have an A2X account hooked up to your accounting system, you should choose to share the connection with the existing account. For more help on this, check out our support centre.
- This step is optional but highly recommended: Set up your accounts and taxes ready for eBay payouts. This is your blueprint for how all eBay transactions will be categorized by A2X and sent to Quickbooks, so it is worth spending time on this part and even consulting with an accountant to get it right. A2X also has generic suggestions to make things easier.
If you have multiple tax requirements for selling across states or countries, you can create your own groups for sales via Settings > Invoices. For more info on this step as a whole, check out this section of our eBay set up tutorial.
- Test the system and send a summary. This is effectively to import eBay sales to Quickbooks via A2X. You should see the option to send within the invoices themselves. For more detail on this step, check out this tutorial.
- Another optional step: Enable the Cost of Goods Sold (COGS) reporting feature. Navigate to Settings > Cost of Goods Sold:
- Then, enable COGS as below. For more detail about this step and the COGS report function, check out this tutorial.
That’s it! The last part of your journey will be to choose the right subscription for your business, and you’ll discover how easy A2X can make your bookkeeping - for good!
Start Your Journey with A2X for eBay Today for Free!
Take learning how to record eBay sales in Quickbooks off your long to-do list today and let A2X handle it for you.
Also on the Blog
- The A2X eBay Accounting Hub
- eBay Business Plan Template
- Best Things to Sell on eBay in 2021
- 34 eBay Tips to Help You Sell More Products
- How to Save Time with eBay Automation
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