Ecommerce accounting in QuickBooks Online

No, A2X instead creates a summary entry. Sending every entry to QuickBooks Online might seem appealing initially, but over time this will create thousands of entries and swamp QuickBooks Online . Individual orders also make reconciling the payouts you get from your channels very difficult, trying to match one payout to thousands of order entries. A2X follows best accounting practices by creating a summary entry that will cover the exact period you are paid for. All of the transactions that occurred will be accounted for and you will get a clean accounting entry that matches perfectly with the payout in your bank, making reconciling the payout a breeze.

A2X can create a COGS entry in QuickBooks Online . Simply upload your SKU costs and A2X will create a summarized, value-based entry, that will credit your inventory asset account and debit your COGS expense account for the value of the goods sold for that period.

Yes, A2X supports ecommerce businesses all around the world, including businesses with multiple stores/marketplaces in different countries and even different currencies.

Yes, as long as the payment gateway is used on one of A2X's supported integrations, A2X will create a separate entry for each of the payment gateways on your online store. You will just need to account for any fees payment gateways have charged you in QuickBooks Online Online .

A2X provides the most comprehensive tax breakdown; separating your transactions that were taxed, not taxed, and were tax exclusive. A2X will also separate your tax by country so you can distinguish sales that happened in countries that you're registered in. A2X will identify tax on all transactions, not just sales, which means you can separate tax on shipping, refunds, and more.

All A2X subscriptions come with a period of some historical data. If you'd like more historical data than your plan allows, then you can upgrade to fetch more data.

Yes, many of our larger customers will use inventory management software alongside A2X. Although some inventory management software has the option to post to QuickBooks Online , their entry will not be as comprehensive or accurate as the A2X entry, due to timing, transaction types included, and data updates (refunds for example).

You can export the data from A2X into a raw file (such as a CSV) but to get the full benefit of A2X you should be using accounting software like QuickBooks Online .

Yes, you can export your A2X entries and upload them into your desktop accounting software. A2X supports a range of export formats.

Yes, A2X offers a useful custom export method for businesses using ERP systems. Please reach out to our sales team to hear more about this.

Yes, if your marketplace has collected marketplace facilitator tax, A2X will identify what tax has been collected and what tax has been submitted, so that you can ensure you're properly reporting your tax. These numbers will be debited and credited in your A2X entry so you have an accurate record of your MFT.

Yes. A2X will split out your UK sales from your non-UK sales.

A2X can support many seller VAT scenarios, including single market sellers who are selling from the UK and are only registered in the UK; Multiple VAT registration sellers who are from the UK but are registered in multiple countries; as well businesses who are registered in multiple countries and operate out of multiple countries. A2X also allows manual VAT setup for advanced users or specific scenarios.

Yes. A2X receives details on the VAT transactions from eBay.  

Usually, 20% VAT Rate products and Zero-Rated products will be clearly differentiated in A2X already. If you sell products that get taxed at a special VAT rate, such as baby car seats, firewood, and certain types of hygiene products, these products may have a 5% tax rate. In this case, we would set up a separate product type grouping in A2X for these items. Click here to find out more about special VAT rates.

Yes, A2X partners with the world's leading ecommerce accountants and bookkeepers, many of which specialize in QuickBooks Online . Find the right one for you on the A2X Directory by clicking here.