Amazon and Intuit are expanding their partnership to integrate QuickBooks into Seller Central by mid-2025, offering sellers powerful tools to manage Amazon business accounting using QuickBooks, including streamlined solutions for finances, taxes, and cash flow.
Managing finances, staying compliant, and accessing capital are persistent challenges for Amazon sellers striving to scale their businesses. Many sellers grapple with fragmented tools and limited insights, leaving them unsure about their profitability and financial health.
These gaps can hinder growth, create compliance risks, and reduce confidence in decision-making. Recognizing these pain points, Amazon and Intuit have partnered to offer seamless integration of QuickBooks directly within Amazon Seller Central by mid-2025.
This collaboration can revolutionize Amazon seller accounting, allowing sellers to streamline their financial operations, gain real-time insights, and access essential tools to boost their success.
Amazon and Intuit’s Expanded Partnership Key Highlights
Starting in mid-2025, Amazon sellers will gain seamless access to QuickBooks accounting, tax, and lending solutions directly from Amazon Seller Central. This integration will simplify tasks such as:
- Inventory tracking
- Sales tax calculation
- Expense management
- Cash flow management
Key Benefits for Amazon Sellers
Dharmesh Mehta, AWS VP of Worldwide Selling Partner ServicesTogether with Intuit, we’re working to equip our selling partners with additional financial tools and access to capital to help them scale efficiently
- Comprehensive Financial Management
Sellers will gain real-time insights into profitability, inventory, and tax estimates, enabling better financial decision-making. The integration simplifies tax filing and ensures compliance, while providing end-to-end visibility into their financial health.
deBankedIntuit’s QuickBooks Capital funded $650M in the quarter ended October 31
- Streamlined Access to Capital
Eligible sellers will have access to personalized loans through QuickBooks Capital, integrated within Seller Central, simplifying the funding process to support growth.
Potential Issues for Sellers
- Adapting to New Tools
Small businesses may face a learning curve when leveraging advanced QuickBooks tools effectively.
- Integration Complexities
Seamlessly syncing Amazon data with QuickBooks could present challenges, particularly for sellers with extensive product catalogs or unique accounting setups.
- Cost Concerns
Sellers may need to evaluate potential subscription or usage fees for QuickBooks, which could impact their profit margins.
- Data Security
As with any integration, sellers must ensure that their financial data remains secure throughout the process.
Manage Amazon Business Accounting Using QuickBooks: Fundamentals
As an Amazon seller, managing your accounting is crucial for the financial health of your business. It involves tracking sales, managing inventory, calculating fees, and staying compliant with tax regulations.
Here’s a breakdown of the core accounting areas you need to focus on:
1. Amazon Bookkeeping vs. Accounting
- Bookkeeping is the daily tracking of transactions (sales, expenses, fees).
- Accounting involves interpreting that data to make strategic decisions and forecasts, guiding you on where to focus efforts for growth and profit.
2. Sales and Fee Tracking
You’ll need to track Amazon sales, FBA fees, seller fees, and reimbursements. These costs can vary depending on product size, shipping costs, and Amazon’s fees, which can be challenging to manage manually.
3. Inventory Management
Accurate inventory tracking is essential, as it affects your Cost of Goods Sold (COGS), which directly impacts your profit. Tools and automation can help you avoid costly mistakes related to stockouts and overstocking.
4. Tax Compliance
Amazon sellers must understand sales tax, VAT, and income tax. Staying compliant can be complicated due to various state and international regulations, but proper Amazon accounting ensures you’re prepared during tax season.
Watch this video to learn how to navigate tax compliance on Amazon, from understanding marketplace facilitators to managing your 1099-K form and state tax registration.
How QuickBooks Can Help
QuickBooks simplifies Amazon seller accounting by offering a range of features designed specifically for e-commerce businesses:
- Automated Expense and Revenue Tracking
Quickly record and categorize your Amazon transactions, reducing time spent on manual entry and minimizing errors.
- Seamless Integration with Amazon
Sync your Amazon transactions directly with QuickBooks, allowing for real-time tracking of sales, fees, and reimbursements.
- Comprehensive Financial Reports
Generate detailed profit-and-loss statements, balance sheets, and cash flow reports to help you understand the financial health of your business.
- Tax Support
QuickBooks helps track deductible expenses and prepares accurate tax calculations to streamline tax filing.
- User-Friendly Interface
You don’t need to be an accountant to use QuickBooks. It’s designed to be easy for small business owners to manage their finances with confidence.
Manage Amazon Business Accounting Using QuickBooks: Challenges and Best Practices
While QuickBooks helps automate financial tasks, sellers are still responsible for interpreting data and making decisions. Key challenges include:
Understanding Amazon Fees
Amazon applies multiple fees, including FBA fees, storage fees, and referral fees. Accurately tracking and matching these fees to the correct sales transactions can be difficult, even with automation tools.
Reimbursement and Adjustments
Issues with reimbursements, such as returns or lost items in fulfillment centers, can complicate accounting. While tools like QuickBooks can help track and record these reimbursements, sellers must ensure they are correctly interpreted and applied.
a2XReimbursements must be categorized properly to reflect your business’s true financial position.
For instance, if you lose a shipment and receive a reimbursement, you should record this as recovered lost income rather than a new sale. It’s crucial to accurately track these reimbursements to ensure correct tax reporting.
Sales and Expense Tracking
Tracking fluctuating sales, advertising spend, and inventory can lead to discrepancies if not managed properly. QuickBooks helps organize these transactions, but sellers must analyze the data and ensure its accuracy.
Best Practices for Managing Accounting with QuickBooks
Check Reports Regularly
Reports help track sales, fees, and reimbursements. Sellers should consistently download and organize these reports for accurate reconciliation, ensuring they interpret the data correctly in QuickBooks.
- Automate Processes
QuickBooks can help automate recurring tasks like invoicing and sales tracking. However, sellers must remain vigilant and review any data imported into QuickBooks to ensure it aligns with their own records.
Separate Business and Personal Finances
To avoid tax complications, sellers should keep business and personal finances separate. QuickBooks can help with this, but sellers must actively monitor and classify transactions properly.
Monitor Reimbursements and Adjustments
Sellers should stay on top of discrepancies and ensure that reimbursements or adjustments from Amazon are accurately recorded in their books.
Managing Amazon Business Accounting with QuickBooks: Balancing Profit and Growth
To effectively determine the profit and growth of an Amazon business, sellers must analyze both financial results and investment strategies, as discussed in this video below.
QuickBooks can be an essential tool for tracking profits, measuring ROI on inventory investments, and calculating inventory turnover.
Key considerations include:
- Profit vs. Growth
A business might grow rapidly, but without profitability, long-term sustainability is at risk.
- Inventory Investment
Focus on ROI by ensuring each unit generates a healthy profit margin. Prioritize turning inventory quickly to avoid tying up capital in slow-moving stock.
- Return on Investment (ROI)
Assess whether the capital invested in inventory yields sufficient returns when considering all costs, from advertising to logistics.
While QuickBooks offers automated solutions for financial management, the responsibility falls on the seller to interpret and analyze the data accurately to make informed financial decisions.
This is where professionals, such as an Amazon agency, can be invaluable. They have the expertise to help sellers interpret complex financial data, identify discrepancies, and propose actionable solutions to resolve issues.
By leveraging their experience, sellers can better understand their financials and make strategic decisions to optimize performance. Specialists, skilled in daily Amazon tasks like catalog management, can identify issues and propose solutions to address discrepancies.
