Setting up quickbooks for dropshipping
Hi All,
I have been trying to get some info on how to enter as a dropshipper, I use Quickbooks Pro 2012
Basicly, I have a lot of customers who I really do not need to keep track of in Quickbooks. They are customers I will likely not see again so it seems pointless to have thousands of customers in the QB database, esp when I can access them on Amazon or my web sites as I need to. I am trying to find a way to enter the transactions without the customers data. I only need the order ID, payment (cost of item and shipping), the fees from amazon and the date. I cannot find a way to enter that without the customers information, and still be able to connect them to the invoices that I receive from the vendors for each order, they both seem to require the inventory item. I also have no need to create invoices as I do not bill anyone. Do I need to add customers and all the inventory?
So far i was able to get this much:
It sounds like the best way for you is to create Non-inventory items with the box "this item is purchased for and sole to a specific customer" and enter the Income and Expense accounts.
To record the sales use Sales Receipts with the Name set to Amazon or the website for the sale. Use the order ID as the Sales Receipt number with the items and their sales amount, that goes to a bank account.
To record the purchases, use Write Check to that same bank with the items and their purchase amount. If you need to track the purchase with the order ID then put it in the bill's number.
You need to have an item for each thing you want to track for either the sale or purchase. The Amount on the item can be 0.00 but you need to enter an income account like "Sales" and an Expense account like "purchased item". Is you are not tracking all of what you are selling, you do not need to enter the stock number.
You can enter the cost amount on the bill/check and the invoice you are importing should have the amount on it.
I then asked:
When I record the sales use Sales Receipts, does that mean that Amazon and my Web Site will be the customer? So I would have a maximum of 5 customers (1 for Amazon and 4 (1 for each website) for websites?)
the response was
Yes, Amazon and my Web Site will be the customer.
Is this the correct way to proceed?
If so, I still have one last question, If I do not need to give it a price or number, can I use this "blind" inventory item for all the transactions, or do i need to create a blind item for each order?
I really appreciate any help you can give me, as I need to get my books done as soon as possible.
Thanks!
I have been trying to get some info on how to enter as a dropshipper, I use Quickbooks Pro 2012
Basicly, I have a lot of customers who I really do not need to keep track of in Quickbooks. They are customers I will likely not see again so it seems pointless to have thousands of customers in the QB database, esp when I can access them on Amazon or my web sites as I need to. I am trying to find a way to enter the transactions without the customers data. I only need the order ID, payment (cost of item and shipping), the fees from amazon and the date. I cannot find a way to enter that without the customers information, and still be able to connect them to the invoices that I receive from the vendors for each order, they both seem to require the inventory item. I also have no need to create invoices as I do not bill anyone. Do I need to add customers and all the inventory?
So far i was able to get this much:
It sounds like the best way for you is to create Non-inventory items with the box "this item is purchased for and sole to a specific customer" and enter the Income and Expense accounts.
To record the sales use Sales Receipts with the Name set to Amazon or the website for the sale. Use the order ID as the Sales Receipt number with the items and their sales amount, that goes to a bank account.
To record the purchases, use Write Check to that same bank with the items and their purchase amount. If you need to track the purchase with the order ID then put it in the bill's number.
You need to have an item for each thing you want to track for either the sale or purchase. The Amount on the item can be 0.00 but you need to enter an income account like "Sales" and an Expense account like "purchased item". Is you are not tracking all of what you are selling, you do not need to enter the stock number.
You can enter the cost amount on the bill/check and the invoice you are importing should have the amount on it.
I then asked:
When I record the sales use Sales Receipts, does that mean that Amazon and my Web Site will be the customer? So I would have a maximum of 5 customers (1 for Amazon and 4 (1 for each website) for websites?)
the response was
Yes, Amazon and my Web Site will be the customer.
Is this the correct way to proceed?
If so, I still have one last question, If I do not need to give it a price or number, can I use this "blind" inventory item for all the transactions, or do i need to create a blind item for each order?
I really appreciate any help you can give me, as I need to get my books done as soon as possible.
Thanks!
ASKER CERTIFIED SOLUTION
membership
This solution is only available to members.
To access this solution, you must be a member of Experts Exchange.
ASKER
thanks
ASKER
But i need to know about using the inventory items. Can I really create one inventory item for income, and one inventory item for expenses? I had thought of creating an inventory item that represents each website, but i dont think that is neccessary.
I would greatly appreciate any help you can give me in understanding what would be the best way about going about this.