Solved

Setting up quickbooks for dropshipping

Posted on 2012-03-12
3
2,505 Views
Last Modified: 2012-03-21
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!
0
Comment
Question by:MikeMCSD
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
  • 2
3 Comments
 
LVL 11

Accepted Solution

by:
stlinae earned 500 total points
ID: 37715767
My first question to you is, what are you trying to track in QuickBooks?

If you're not wanting any customer information in QuickBooks or any item information, then you're fine doing it with the 5 customers and a blind inventory item.

Understand though, that you will not be able to track item cost this way either. So, I'd go back to my original question.
0
 
LVL 16

Author Comment

by:MikeMCSD
ID: 37718608
Thanks for your help. I  need to track sales and payments, fees, and other expenses, basicly all income and expenses. I have an Amazon store and 4 websites, and have been in business since last summer, and need to enter the financials from last year. I was thinking of creating a customer for each vendor I use, and a set of amazon customers, one for each vendor as well.  As an example, "Macys", "Gimbles", "Fortunoff"  and "Amazon Macys", "Amazon Gimbles", "Amazon Fortunoff" as customers.  I can then tell where each order came from, and use the reports to see sales from each vendor. This would represent merchandise sales. I would use the vendor order number as the sales number, and the sale order number (amazon or Web number) in the memo with the customers last name. That way i can match up all the orders to where they came from and who they belong too.


 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.
0
 
LVL 16

Author Closing Comment

by:MikeMCSD
ID: 37748803
thanks
0

Featured Post

Salesforce Made Easy to Use

On-screen guidance at the moment of need enables you & your employees to focus on the core, you can now boost your adoption rates swiftly and simply with one easy tool.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Suggested Solutions

Hi, I've just fixed a problem with Sage 50 Accounts 2010 crashing when creating a new Company.  I've spent nearly 4 hours on it including three calls to the Sage helpdesk (they didn't work it out in the end - I did!) ... so I thought I'd share th…
If you need to import sales transactions from another system into Microsoft Dynamics GP as Sales Order Invoices, you may need to store some additional data related to the customer, the transaction, or the line items.  Even if your company is manuall…
With Secure Portal Encryption, the recipient is sent a link to their email address directing them to the email laundry delivery page. From there, the recipient will be required to enter a user name and password to enter the page. Once the recipient …
In an interesting question (https://www.experts-exchange.com/questions/29008360/) here at Experts Exchange, a member asked how to split a single image into multiple images. The primary usage for this is to place many photographs on a flatbed scanner…

751 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question