How-To Guide: Easily Integrate Walmart Seller Center With Quickbooks
Estimated reading time: 4 minutes 30 seconds.
Accounting is a time-consuming necessity for all ecommerce sellers - large and small!
Automating your accounts is a great way to eliminate the need for (potentially erroneous) manual data entry. Transactions are sent automatically as soon as orders complete, tallying up in your accounting software ready for you to reconcile.
When it comes to accounting for ecommerce sellers, there are still some crucial parts missing in this tech stack. As a seller, you need certain information in order to survive and thrive, which A2X can help with.
In this article, we’ll tell you how, why, and where to get started with Walmart Marketplace and Quickbooks integration.
How A2X Unlocks Your Full Selling Potential
The way that you manage your accounts directly impacts how your business performance appears to be tracking on paper. Depending on your method, you may not be seeing a reliable picture.
How do you ensure you have all the facts before making big, potentially costly, decisions?
A2X captures and organizes your transactional data for you as part of your Walmart Marketplace sync with Quickbooks. This benefits you as a seller, because:
Critical details are saved and displayed
When deposits are sent via a Quickbooks Walmart integration, you just see one deposit amount end up in your accounts.
The system doesn’t tell you where that final total came from: Were Walmart fees taken? How about fulfilment? Maybe reimbursements were added for returns, or sales tax collected?
Suddenly, figuring out your profit margins and whether you have collected enough tax becomes a nightmare. A2X steps in to break all this down for you, within neat journal summaries saving you time, money and a lot of headaches.
Accounts are managed via the accrual method
Accrual vs. cash basis accounting all comes down to timing.
Rather than only counting money when it changes hands as with the cash basis method (which is what your accounting software integration would do), accrual basis counts income and expenses as soon as invoices are raised. This gives you a more dynamic perspective over your business operations.
A2X organizes your accounts on this basis, taking fees owing into account as well as income and outgoings, so that nothing gets lost in translation.
It also separates transactions within batches that span months, so that you can compare monthly and yearly performance without the hassle of manual calculation. This is a huge advantage for ecommerce sellers.
Numbers are automatic and accurate
Don’t let anything fall through the cracks with your Walmart Marketplace integration. With A2X, you have full visibility over your cash at the click of a few buttons. You’ll be able to plan for your growth based on solid numbers that are reliable and correct - every time.
Accounting takes minutes rather than hours
Reconciling your books can be done at the touch of a button with A2X.
More time for you means your full potential as a business owner is unlocked. You can use your valuable time strategizing growth and planning for the future, instead of manually reconciling your books.
Your Quickbooks Walmart stack only gets you part of the way there. Add A2X for the detail you truly need to succeed.
Step-by-Step Quickbooks, Walmart & A2X Integration
Follow these simple steps to get set up for accounting success:
- Sign-up for your free trial of A2X.
- Link A2X with Walmart: in your A2X account, go to Settings > Connections, and select “Continue with Walmart”. You will be asked for your Walmart Client ID and Client Secret.
Enter those, and select “Connect Walmart”. Your Walmart Marketplace will now be connected, and you will be redirected back to your A2X dashboard.
NB: A2X is read-only for your ecommerce store, so it won’t change anything.
- Link A2X with Quickbooks: Next up, connect to accounting via Settings > Connections and select “Connect to Quickbooks Online”.
If you already have a connection between your A2X and QBO, choose “Share QuickBooks Access”. If you are connecting your A2X account to a new QBO account, choose “Connect to Quickbooks”. You will need your login credentials for Quickbooks.
NB: A2X will not make any changes to your Quickbooks account without approval.
- Select the business which you are linking to your A2X account: If you only have one, you have an easy choice! If not, select the one you wish to connect to Quickbooks. There will be a final “Connect” button to grant A2X access to your accounts.
- Set the bank accounts: under Settings > Connections, select the bank/credit card accounts you use with Walmart. You will need to map the account which Walmart transactions are paid into, and the credit card that pays fees out to Walmart.
- Set your accounts and tax mappings: This is where you’ll be able to configure A2X with accounts and taxes specific to transaction type, which will then be sent to Quickbooks. For more detailed information on this step, check out this tutorial.
- A2X downloads from Walmart: you will see your A2X dashboard begin to populate data from your Walmart Seller Center page. Here, transactions are matched with deposits and grouped ready to go to Quickbooks.
- Reconcile with ease: send the A2X summaries to Quickbooks to reconcile your books! Easy as that.
Try A2X for Walmart Accounting for Free!
A2X not only gives you back your time, but it allows you to make decisions for your business with confidence.
With help available whenever you need it, you can map your growth and plan for success resting easy that the numbers will add up.
Start your free trial with us today.
Also on the blog:
- Walmart vs. Amazon: The Changing Landscape for Ecommerce Sellers
- Scaling Your Walmart Seller Business
- Walmart Sales Tax
- Ecommerce Accounting and What Makes It So Different
- Ecommerce Accounting Principles
- Find an Ecommerce Accountant
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