To enable users to review, at the end of any given Settlement period the breakdown and total of fees each item incurred, ConnectBooks uses the Classes feature in QuickBooks.
Here is how it works:
When a Settlement (available in the Inventory Integration plan only) is imported into QuickBooks, each item is listed on the invoice with the quantity sold for that Settlement period, and the dollar amount it sold for.
The next two to four lines on the invoice after each item are the related service items for the fees incurred with Amazon for this product.
For example:
FBA Commission Fee, FBA Fulfillment Fee, Order Fees, and more (see screenshot below). As the fees are listed on separate lines on the invoice, it is necessary to have Classes to link the fee items to the correct inventory item. This enables a seller to run a Profit and Loss by Class at the end of a month, and clearly view the sales, associated expenses, and fees for each product they sell.
ConnectBooks creates for its users a separate class for each item name in QuickBooks. On each line of an imported invoice (for both the inventory item and the related service/fee items), the corresponding item class code shows in the class column, which is between the last two columns on the right side. (see screenshot)
All types of fees deducted by Amazon from a Settlement get Classes.
For example:
Storage fees, Subscription fees, Postage fees, and more are classed to the correct item class name that it corresponds to.
If a fee is not directly correlated to specific items, such as the subscription fee or transportation charges, a default class called Amazon Fees is used.
Notes:
For QuickBooks Online users, only the Advanced Subscription plan includes unlimited Classes.
The Essentials and Plus plans include a limit of 40 classes. As it is necessary for each sold item to have its own class, ConnectBooks for these limited plans automatically shuts down the entire classes feature. This is done to prevent a user from exceeding their limit, and results in QuickBooks Online shutting them out. Users who want to keep the Class feature in place, regardless of the limitation, (in cases where a seller sells fewer than 40 items), contact customer support to have classes reinstated.