import quickbooks online settings to new company

Here are some of the basic accounts you should create: Payment MethodsĪdding Amazon as a Payment method will allow you to track all Amazon payments. You’ll want to create specific accounts (and later, products and services) to be able to track your business with greater detail. That way you can separate and track individual marketplaces instead of using default accounts for all of them.įor instance, if you sell on two Amazon marketplaces, you may want to use two different Undeposited Funds account to track payments from each. While you can use those, we recommend creating accounts that are specific to your marketplace. Most, if not all, of the basic accounts your business needs will already exist in QuickBooks Online. Setting up basic QuickBooks Online Default options and accounts We’ll go through some use cases for these options in other articles.Ĭontinue below for a visual guide for all the setting locations. Sales > Track inventory quantity on hand ONĪdvanced > Multicurrency (if you sell on foreign marketplaces) You should change or enable these settings: If you sell on foreign marketplaces like Amazon MX (Mexico) or Amazon CA (Canada), you’ll need to enable Multicurrency as well.īefore we start, here are some of the settings you’ll need to change under the Gear icon > Company Settings. Inventory tracking will also give you much better reporting on your inventory items, so you’ll know when to raise prices or clear out products. Basic accounts for your QuickBooks Online companyĬhanging QuickBooks Online Company settings.Multicurrency enabled if you sell on foreign marketplaces.Changing QuickBooks Online Company settings.If you don’t track inventory, then you can use any subscription plan and a non-inventory item for your documents.Īlready have QuickBooks Online configured properly? Go to the bottom of the page to see our series on Amazon to QuickBooks Online accounting.Ĭlick through our guide to skip to different sections if you’re already familiar with specific settings. You’ll get the most out of the guide using SellerZen or tracking inventory if you enter documents manually. Our guide is based on a QuickBooks Online Plus subscription because it’s the only one that has inventory tracking.

If you’re just starting with a new QuickBooks Online company, there are some settings you’ll need to enable before you start using our guide.

Import quickbooks online settings to new company