Are you ready to streamline your ecommerce finances? This guide is designed for A2X users who want to efficiently post their settlements or payouts to their accounting software. Whether you're using QuickBooks Online, Xero, or Sage, you'll find simple steps to ensure your financial data is accurately recorded and reconciled.
Step-by-Step Instructions:
Preparation: Before you start, ensure that your ecommerce channel, accounting software are connected, and that you have mapped your accounts and taxes appropriately.
Accessing Settlements: Settlements from your sales channels are displayed in your A2X account. To find them, navigate to the Home or Settlements tab.
Posting the Payout: To post your first payout, simply click 'Send' on the Settlements tab.
Alternatively, if you prefer to review the settlement details before posting, select 'Review'. This allows you to check the invoice details, accounts, and tax rates before sending them to your accounting system.
Click on the down arrow to show invoice details
Review your accounts and tax rates and then send them to your accounting:
Finding and Reconciling the Entry in Different Accounting Systems:
QuickBooks Online
Locate the A2X Entry: One of the easiest ways to find the journal straight after posting it is to click the magnifying glass at the top right of the page in QuickBooks Online, and display a drop-down showing your recent transactions:
To reconcile the journal entry to the deposit in your bank account, simply click on the 'match'.
Click HERE for more details and step-by-step instructions.
Xero
Locate the A2X Entry: In Xero, the transaction appears as a Draft Invoice, or a Draft Bill if it's negative. Approve this to proceed."
To reconcile: During the bank feed reconciliation, Xero will suggest a match to the approved invoice. Confirm by clicking 'OK'.
Click HERE for more details and step-by-step instructions
Do you need help with your A2X set-up?
Are you having difficulty setting up your Accounts and Taxes, and you would like some help from an accountant or bookkeeper? We have a directory full of expert accounting/bookkeeping partners around the world who are ready to assist with your e-commerce accounting and A2X.
Please click HERE to find an expert