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Track Profit & Loss per item in QuickBooks using Class tracking

How ConnectBooks uses QuickBooks classes to show fees and profit for each item.

ConnectBooks uses the Classes feature in QuickBooks. This lets you see, for any settlement period, the fees each item had and their total.

How it works

When a settlement is imported into QuickBooks, each item is listed on the invoice with the quantity sold in that settlement period and the amount it sold for.

The next 2 to 4 lines after each item are the service items for the Amazon fees on that product. For example: FBA Commission Fee, FBA Fulfillment Fee, Order Fees and more.

Since the fees are on separate lines, classes are needed to link each fee to the right item. This lets you run a Profit and Loss by Class at the end of the month and see the sales, costs and fees for each product you sell.

ConnectBooks gives each product a class in QuickBooks. The class is the product's Category, or the item name when no category is set. On each line of an imported invoice (both the item and its fee lines), the class shows in the class column, between the last 2 columns on the right.

All types of fees Amazon takes from a settlement get classes. For example, storage fees, subscription fees, postage fees and more get the class of the item they belong to.

If a fee isn't tied to specific items, such as the subscription fee or transportation charges, it gets a default class called "Amazon fees". To change this name, contact our support team.

Notes for QuickBooks Online

Only the QuickBooks Online Advanced plan includes unlimited classes. The Essentials and Plus plans have a limit of 40 classes.

Since each sold item needs a class, ConnectBooks turns off classes for these plans. This keeps you under the limit so QuickBooks Online doesn't lock you out. If you sell fewer than 40 items and want to keep classes, contact support to turn them back on.

Frequently asked questions

What class does a fee get if it isn't linked to an item?

It gets the default class, "Amazon fees". To change this name, contact our support team.

I set categories on my products. What class do they get?

The class is the product's Category. Products with no category use the item name.

I'm on QuickBooks Online Plus. Can I use classes?

ConnectBooks turns them off for this plan because of the 40 class limit. If you sell fewer than 40 items, contact support to turn them back on.

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