Channel Name
ConnectBooks sends all transaction data to a single customer in QuickBooks. ConnectBooks generates a unique customer name for each store, using the marketplace name from QuickBooks (e.g., cb-Walmart/ cb-Amazon).
To change the default customer, select your preferred customer from the dropdown menu.
Sales and Fee Breakdown
Choose one of three ways to break down your marketplace fees in QuickBooks:
Item - ConnectBooks will create a class for every item and its associated fees using the QB item name.
Category - If you want to manually add a class on some items
Summary (Recommended) - Importing transactions without classes
Note: QuickBooks Online limits you to 40 classes. By default, we've disabled the option to select classes. Contact support if you wish to enable this feature.
Bank Account and Credit Card Information.
Select the bank account where the marketplace deposits your payouts or charges your card for negative settlements.
Note: You can always change the bank and credit card information
.
Accounts Receivable
The system automatically selects the Accounts Receivable account by default. If you have multiple A/R accounts, choose the desired one from the dropdown menu.
Breakdown QuickBooks Invoices
Choose how to break down your sales and transactions in QuickBooks:
Weekly - All sales transactions will be grouped by week.
By Settlement (Recommended) - All sales transactions will be grouped by month.
Multi-Currency
If you sell in one currency and receive payment in another, choose the currency for data entry into QuickBooks. If your QuickBooks account isn't configured for multi-currency, select the 'convert to other currency' option, and ConnectBooks will convert it to your home currency.
For a comprehensive guide on setting up a multi-currency account, click here.
Track inventory
Diamond Plan: Only users with the ConnectBooks Diamond plan can enable itemized tracking in QuickBooks by selecting 'Yes.' This feature is for businesses that manage inventory on an item level in QuickBooks.
Gold Plan: If you're on the Gold plan and track inventory by dollar value, you only need to choose two accounts:
1. Inventory Asset (decreased when a product sells)
2. Costs of Goods Sold (increased when a product sells)
Note: If you want ConnectBooks to import sales and fees into QuickBooks without adjusting inventory value, please contact support.
Diamond Plan: Track Refunds and Adjustments in QuickBooks
For FBA, Amazon evaluates the condition of every returned item. If it's sellable, we return it to inventory; if damaged, we expense it.
If you want to discard all returns, regardless of condition, deselect 'return'.
If you prefer all returns to re-enter inventory, regardless of condition, deselect 'returns adjustment'.
ConnectBooks recommends keeping the default options, with everything checked.
Calculate profit (Diamond Plan)
There are two options for importing sales.
Gross-brings in all sales and the fees.
Net-brings in sales after fees.
ConnectBooks recommends using Gross profit.
QuickBooks Item Name Mapping (Diamond Plan)
There are three options for item name mapping between ConnectBooks and Quickbooks:
ASIN - ConnectBooks will bring in all sales using the marketplaces ASIN
SKU - ConnectBooks will bring in all sales using the marketplaces SKU
Custom - ConnectBooks recommends custom. This means that each SKU will need to be mapped to an item in QuickBooks. To learn how to do this, view the article here
If you select ASIN or SKU, ConnectBooks will automatically create a new item in QuickBooks whenever a sale involves an ASIN or SKU that doesn't exist yet in your QB.
Advanced Mapping
ConnectBooks automatically generates a default chart of accounts for all marketplace fees. You can view the list on the Advanced Mapping page for every new sale or fee.
The first column displays the item/fee description
The second column displays the account name & type
The third column lets you override accounts and change the default account. Use the dropdown menu to choose the desired account.
Note: We display the full chart of accounts for all marketplace fees, even if they don't directly impact your store. ConnectBooks will only use and create these accounts if they directly hit your account.
If you prefer to manually map fees only when they directly affect your account, contact support
For bulk item uploads via Excel, click on "CSV Bulk Update."
A pop-up will appear where you can either download our template or upload your file.
Once setup is complete, remember to press "Save and Complete Setup."
Your account configuration is complete. For further details on our advanced features, explore our article library. Feel free to contact support with any inquiries.