QuickBooks Online has free built-in integrations to manage your PayPal, Square, and Etsy e-commerce sales and electronic payments. Learn how each app works, as well as alternatives for when you don’t want to import every sale into QBO.
E-commerce has become the new normal. You can’t escape it! Nowadays, everyone is shopping online or paying for everything electronically. Today more than 13% of ALL transactions in the United States are made online or go through an e-commerce based point-of-sale system, and it’s just going to increase from here.
If you’re in business today, it’s crucial that you know how to integrate e-commerce with your QuickBooks® Online, or you’re going to waste a lot of time and make a lot of financial mistakes.
Whether you’re a crafter selling your creations on Etsy, or a retail store using Square as a point-of-sale system, you need a way of recording your income in QuickBooks Online...and do it without creating duplicated systems.
QBO to the rescue! QuickBooks Online simplifies the process and has pretty much done the work for you.
Intuit has created three “Connect to….” app integrations that talk to your merchant services systems to import your PayPal, Square, and Etsy sales.
Some companies want to import every transaction with customer detail. Others only need a daily or monthly summary. We’ll explore the pros and cons of each approach and then demonstrate all three integrations so you can set them up on your own.
Importing your sales from e-commerce websites and electronic payment methods into QBO has never been easier!
And if these apps aren’t right for you, we’ll also explain clearing accounts, a simplified “sledgehammer” approach to e-commerce bookkeeping. We'll also talk about what to do with transaction fees!
Whether you’re just starting to sell online, or you’re a seasoned pro that just wants to make their process a little more streamlined, this course is for you!
After completing this course, you will be able to:
- Connect common payment gateways to QBO
- Decide to import individual transactions or daily summaries
- Use clearing accounts for bulk entry
- Understand how to manage merchant fees
What You’ll Learn
- PayPal and Square vs. QuickBooks Payments to receive money
- Why Venmo isn’t a good idea
- Managing transaction fees
- Do you want to bring in every transaction or a summary?
- Do you want to bring in every customer name, or put all sales under each channel?
- The Connect to PayPal integration
- The Connect to Square integration
- The Connect to Etsy integration
- Connecting to Venmo
- How to use a clearing account for minimal management
1.5 CPE, Certificate of Completion
Field of Study
QAS Self Study
Who should take this class?
Other learners purchased these courses after completing this class:
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Refunds & Cancellations
Royalwise Solutions Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Course Credits: 1 CPE, Certificate of Completion. Must be awarded within one year of enrollment.
Course Updated: December 2021
Here is the course outline:
1. Download the Handout
Download the handout that goes with the course.
2. Watch the Videos: Connect to PayPal, Square, and Etsy
3. Take the Quiz
Take this quiz to demonstrate your mastery of the material. Pass the quiz with an 80% or higher to complete the Course, earn your Certificate, and win points!
The following certificates are awarded when the course is completed:
|Royalwise CPE Certificate|