Building on the previous article that shows you how to set up A2X for use with QuickBooks Desktop or QuickBooks Enterprise, in this article we will show you how to have A2X calculate and export your Amazon COGS in a format that you can use with QuickBooks Desktop or QuickBooks Enterprise.
STEP 1: Configure Cost of Goods Sold
To use Cost of Goods Sold in A2X you must be on a plan that supports it, and then enable it under Settings > Costs. You will need to specify an expense account and asset account for the COGS debit and credit.
Once enabled you will set your costs in the Costs section of A2X, because you need to tell A2X the cost to use for each Amazon SKU.
Lastly, you can refresh one or more settlements to have the COGS calculation updated using the newly uploaded cost prices.
You can read more about COGS here.
STEP 2: Export Cost of Goods Sold data
Once A2X has calculated your Cost of Goods Sold you will see it when you review each settlement:
If you click the Export COGS button you will get a CSV export that looks like the one bellow, based on your COGS configuration:
STEP 3: Export your settlement data
A2X will export a specially formatted IIF file for each of your settlements. You will import the IIF file to your version of QuickBooks Desktop or or QuickBooks Enterprise.
To import the IIF file into QuickBooks, follow the steps below.
(Windows) File → Utilities → Import → IIF Files
(Mac) File → Import → From IIF Files
Uploading your Chart of Accounts File for QuickBooks Desktop: For more information on uploading your chart of accounts, read our article here.
Carry Forward Balance: A "carry forward balance" account is required. For more information on the carry forward balance, read our article here.