A little background on settlements

In order to understand what happens to settlements before they are sent to QuickBooks, let's first explore how we get to this point. Every 15 days, Amazon sends sellers a settlement statement that hits the seller's bank account. Obviously, the number is shown on the bank statement is not your profit nor is it your top line revenue. Instead it is the money left over after Amazon takes out their share in the form of dozens of different fees like commission, storage, or fulfillment fees. At the same time that the settlement hits your bank account, Ecominate generates a summarized transaction statement. This statement breaks down exactly what was taken out by Amazon and this breakdown is then sent to QuickBooks in the form of a journal entry. Once Ecominate has parsed, processed and assigned the proper accounts to each settlement, the settlement is shown in a table below on the "Settlement Integration" page, ready to be sent. (For a more thorough explanation of settlement reconciliation check out the accounting tools help section).  
 

Sending settlements to QuickBooks

Once a settlement has a green "accounts" status it is ready to be sent to QuickBooks. It is always advised to dropdown each settlement and make sure that all of the accounts mappings are accurate. Once you're ready to send the settlement, simply click the "Send to QuickBooks" button. After doing this, a notification is triggered notifying you that everything went smoothly.

Once the "Send to QuickBooks" button is clicked, the settlement transaction summary is sent as a single or group of journal entries to QuickBooks. The quickest way to view your Journal Entries is to click the magnifying glass in the top right hand corner. There you will see your most recent transactions.

Another option is to click on the reports tab on the sidebar and then navigate to the Journal. From there select the date range in which your journal entry was posted.

Did this answer your question?