is your Amazon online store similar to any other business that has to pay general and
administrative expenses we'll watch this video on how an Amazon online store would pay record
and view general administrative expenses that are not related to buying and selling and as a bonus
I will show you all the techniques and tricks to find anything in your Amazon QuickBooks file
if you have any questions about this topic you can leave them in the comment section below and
I'll do my best to help you and of course if you feel the video helped you I hope you will
click like and don't forget to subscribe to get updates on new videos that come out all the time
how would you record non Amazon related expenses in your QuickBooks file that manages your Amazon
merchant store well you would record it like any other company records paying expenses you
would use the write checks window even if you are making a payment to an expense through your
bank account instead of handing out a physical check the cash in the bank will decrease and
the recorded expense account will increase for the amount of expense that you pay those expenses will
show in the bottom of the profit and loss report for example let's imagine on May 15th we paid con
Edison for utilities $1000 with cheque number 61 cash decreases by a thousand and utilities expense
will show up for the first time on your trial balance and profit and loss for $1000 before we
record this check let's take a look at the numbers in the trial balance notice that cash in Bank is
seven thousand one fifty five and after this check it will become six thousand one fifty-five also
notice you do not have utilities expense listed at all but after you record this check utilities
expense will show up for the first time as a thousand dollars we already put the check shortcut
in the icon bar in an earlier video so just click check bring the date forward to May fifteenth and
con Edison that is the electric company in New York is not yet on the vendor list so click add
new new vendor click OK con Edison and click OK now you can put a thousand dollars and push tab
notice the thousand dollars gets copied to the bottom left click once under the word account
to bring the pull down arrow click on the pull down arrow to get your chart of accounts and the
reason we're paying this check is for utilities expense so the money is coming from Chase Bank to
the utilities expense account now before we click Save and close I suggest you remove this check box
that says you're going to print the checks later and put in the check number of the physical check
that you wrote and mailed out to con Edison now click Save and close and the numbers in the trial
balance are exactly as we predicted cash and Chase Bank is down to six thousand one hundred
fifty five dollars and utilities expense has shown up for the first time as a thousand dollars if
you look specifically at the profit and loss you can see that your income section is the top part
and your expense section is on the bottom your administrative expenses get deducted from the
gross profit from the sales so we have the money that came in from the customer - what you paid for
the merchandise that went out equals your gross profit and then after that you would subtract
out your Amazon expenses as well as your general and admitted administrative expenses to get the
net profit and final net income for the month I did not put a date range but if I put from May
1 to May 31st and then click refresh you will see that the only transaction I had during the month
of May was paying utilities and I did not record any income from deposits during May and that's
why it looks so crazy but it would not happen this way because you will be recording your bimonthly
deposits in the way that we learned in the prior video and now that you know how to record each of
the different types of transactions that you need to record let's take a moment and discuss the best
way to find transactions that you have already entered the first way is through the trial balance
now the trial balance gives a total of each of the accounts in the chart of accounts however if you
would like to see all of the transactions that add it up to that total all you have to do is double
click on the money amount and another window will pop open that window is called transaction
by account and it will tell you the specific account that it's looking at right here in the
top left so if I want to know why I have this much money recorded in my bank account I open the trial
balance and double-click on the number 6 6 1 5 7 7 when I double click this window opens giving me
a list of every single transaction that adds up to that final number notice it has the nine thousand
six hundred and fifty seven dollar deposit from video number two it has all of the checks that we
recorded for purchasing the product that lowered the bank account and it even has this check to
con Edison for the general utilities expense so this window explains all of the different
transactions that added up to that number it gets even better you can even pick a transaction and
double click right on it and the very window that you actually recorded the transaction in will show
up right in front of you once it's there you can change anything you want and click Save and the
numbers in your reports will immediately adjust themselves accordingly another good way to find
anything in the file is to use the find window you can open the fine window by going to the top
left and clicking edit find now if you're looking for a check you would choose check and click find
and every check you wrote would show up here if you reset it and you want to find a check for a
specific vendor you would click payee choose the vendor and click find you can put in even
further filtering criteria to find checks between specific dates checks with specific check numbers
or amounts you can click advanced and then you could go down to transaction type or you could
just click anywhere and push the letter T and you get transaction type and then you could
choose deposits click find and every line on every deposit that you have will show up here
so I invite you to explore and experiment with the both the simple and the advanced tab in the
fine window and if you want you can click Edit find and at the moment this is in front of you
you can click view ad fine to the icon bar and click OK and now you have a shortcut to the finder
the third thing you should know when being able to manage your file and find any transaction is
that the best report in QuickBooks is the Journal report now the journal report is the best report
in QuickBooks because it's the only report that can show everything in the order in which it was
entered regardless of date it can show date and time that you entered it regardless of the date
of the actual transaction and it will help you see what was entered and exactly where you left off
if you were putting in a bunch and lost track of which ones were entered and which ones were not so
let me show you how to open it set it up and save it from the main menu click reports accountant and
taxes journal now don't worry about this little tip click don't bother me and click OK and now
you have the journal report now by default it opens month to date and it looks into your
windows clock to see what date you told Windows was today's date but I suggest you click here
to get the date pull down and choose all meaning you want QuickBooks to show you the results of all
transactions regardless of date now we could stretch it wide but you would still have to
scroll up and down in order to see everything now I suggest you further customize this report before
you save it to your icon bar you can customize any report by clicking in the top left and click
customize and the modify report window opens right up now here's how we're going to change it we're
going to add a column that will tell you the date that the transaction was actually entered or last
modified now click OK and you will see that it added this column right here so this is the date
of the transaction but this is the date and time it was actually entered let's click custom report
again and change the columns at the end this will be helpful to you if you scroll down I think if
you're not an accountant it would be better to remove the check marks next to debit and credit
and click the check mark for one number amount now instead of saying debit and credit you simply have
an amount column that makes things more simple there's another way to get rid of a column you see
the adj for adjustment all you have to do is move by the way it's check marked on the cost of goods
sold adjustment so that you can see which entries are adjustments and which entries are transactions
but you can get rid of it by moving the cursor right here the mouse pointer right to the right
of the column till you get the double arrow click and drag to the left and that column will
disappear now you can even make a column wider you can make the memo column wider the account
column much wider just by clicking and dragging and you could change the shape of the window and
make any column as wide as you need it once the journal looks the way you need it to look you
click view add journal to the icon bar and then click OK now if you open the journal and scroll
to the very bottom you get the most recently enter transactions and you will always know where you
left off now I know that this little video series was very abbreviated it did give you everything
you need in QuickBooks if you only buy and sell on Amazon but some students want a little bit more
detail and elaboration for both the setup steps as well as the transactions and the adjustments
that we recorded so here's what I suggest you should watch on this very website introduction
to QuickBooks with receivables especially if you do additional business over and above buying and
selling on Amazon if you really want to know how to utilize the utilities that QuickBooks
offers you could watch the course QuickBooks credit cards and banking transactions also cord
called registered cheques and deposits and of course for those people who want to make sure
that their records are accurate you can take the QuickBooks bank reconciliation course right here
on this website and of course for people who would like to save time if they write a lot of checks
and they don't want to record each one you could also take the bank feeds course I thank you for
taking this quickbooks online amazon course and i wish you good luck with your amazon merchant store
you