Best practices for tracking your Shopify inventory in QuickBooks Online

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  • เผยแพร่เมื่อ 27 ต.ค. 2024

ความคิดเห็น • 27

  • @BusinessCoachP
    @BusinessCoachP 4 ปีที่แล้ว

    You are not only beautiful but also highly talented and great communicator. Love to see your videos. Great content and information

  • @vdidwania
    @vdidwania 11 หลายเดือนก่อน

    Hello, how would you handle vendor payment in QBO that is going from business account for a product on Shopify if that product is not synced with QBO? What would you connect that outgoing with? Thank you!

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  11 หลายเดือนก่อน

      I don't have enough information to be able to answer your question. It would depend on the integration you are using between Shopify and QBO.

  • @RosaliaHubbard
    @RosaliaHubbard ปีที่แล้ว

    I looked in the description box, but I didn't find the link to the spreadsheet. Would it be possible to post it in response to this comment? Maybe I'm totally missing it!

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  ปีที่แล้ว

      I'm sorry about that. We accidentally deleted the landing page. We'll set that up again soon.

  • @ValeriaSalazar-w3x
    @ValeriaSalazar-w3x ปีที่แล้ว

    Hello, when you sell something on Shopify automatically it reduces on Quickbooks? And how can I connect the inventory I put on shopify with Quickbooks?

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  ปีที่แล้ว

      First, you need to use an app such as A2X to connect Shopify and QBO. An app like A2X can send COGS to QBO.
      Keep in mind that if you want to connect inventory to QBO, It's best if you use an inventory management app, like Finale, Cin7 or others.

  • @binthawwa3532
    @binthawwa3532 4 ปีที่แล้ว +1

    and if have dropshipping business on shopify will we need to track inventory?

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  4 ปีที่แล้ว +1

      Technically speaking, if the inventory shifts ownership to the seller while the inventory is being shipped to the customer, then inventory should be tracked. Practically speaking, it's too hard to track that for every sale. You should assess whether it makes sense to track the end of the month or year-end inventory balance.

    • @binthawwa3532
      @binthawwa3532 4 ปีที่แล้ว

      thankyou

  • @shannonroberts7242
    @shannonroberts7242 3 ปีที่แล้ว

    Hello, how current is your bookkeeping training on your blog? Will I be able to start bookkeeping right away after completing your training?

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  3 ปีที่แล้ว

      Hi Shannon. I don't teach bookkeeping on my blog. My blog has 75+ free QuickBooks Online tutorials. If you want to learn bookkeeping, you may want to check out the training provided by either Universal Accounting or Bookkeeper Launch.

    • @shannonroberts7242
      @shannonroberts7242 3 ปีที่แล้ว

      @@5MinuteBookkeeping thank you

  • @hollyzech8500
    @hollyzech8500 3 ปีที่แล้ว

    If you are bringing over a summarized total of inventory into QBO, do you think it works best to record in a journal entry and then add COGS totals on the same journal entry-or how might you adjust the COGS? Thanks!

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  3 ปีที่แล้ว +1

      Hi Holly. Take a look at this video th-cam.com/video/Jf0JfDaaLpE/w-d-xo.html

  • @sunandanbarua123
    @sunandanbarua123 3 ปีที่แล้ว

    Hi, is it possible to record work-in-progress inventory in Quickbooks and Xero besides just finished goods inventory??

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  3 ปีที่แล้ว

      Sure, if you are recording inventory via journal entry, you can set up a work-in-progress account and adjust the balance using a journal entry.

  • @javierkratos1
    @javierkratos1 3 ปีที่แล้ว

    in one of your videos you mentioned that you are from Houston Texas Im from San Antonio what are the legal requirements for bookeeping business LCC, etc?

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  3 ปีที่แล้ว

      Hi. You should contact an attorney or the Secretary of State in Texas to ask legal questions. I'm not qualified to answer legal questions. However, there are no specific legal requirements in Texas for bookkeeping businesses.

  • @ameliabarbado9887
    @ameliabarbado9887 4 ปีที่แล้ว

    Hi, can I request a video about interview tips/discovery call tips for freelance bookeepers? What questions to ask my future clients?
    Thank you 😊

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  3 ปีที่แล้ว

      Hi Amelia. I've already done a video on that topic here th-cam.com/video/Oo9NYqG1BPE/w-d-xo.html. Let me know if you'd like me to do something different.

    • @ameliabarbado9887
      @ameliabarbado9887 3 ปีที่แล้ว

      I'll check it right away. Thank you 😊

  • @wattsobx
    @wattsobx 2 ปีที่แล้ว

    Is you spreadsheet still avaliable! Your videos are fantastic!

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  2 ปีที่แล้ว

      Yes, you can find the link in this video's description.

  • @BusinessCoachP
    @BusinessCoachP 4 ปีที่แล้ว

    I am from Pakistan and want to join you

    • @5MinuteBookkeeping
      @5MinuteBookkeeping  4 ปีที่แล้ว +1

      Hi. You can join my Facebook Group - 5 Minute Bookkeeping with QuickBooks Online.