Setting Up Marketplace Fee Accounts in QuickBooks

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This guide explains how to set up marketplace fee accounts in QuickBooks so that Wherehouse can sync marketplace fees automatically for each order created in QuickBooks.

Once configured, invoices created in QuickBooks will include marketplace fees as line items, ensuring accurate accounting for each sale.

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Important Note:

Marketplace fees are usually only available a day or more after the order is placed.

QuickBooks does not allow fees to be added to an invoice after it has been created.

Because of this, Wherehouse must wait for fees before creating the invoice if fee syncing is enabled.

This means invoice creation may be delayed until fees are available.

We therefore only recommend enabling fee syncing when QuickBooks is used for accounting only, and not as your inventory source of truth.

If QuickBooks is only used for accounting, this delay will not affect inventory, as stock continues to sync in real time from your source-of-record platform (for example: Cin7 Core, Zoho, Shopify, etc.).

How Fees Appear on Invoices

Invoices in QuickBooks will include marketplace fees inline with each sale.

Example:

As you can see in the above example, in the example above, fees are allocated to a dedicated service item in QuickBooks.

You can choose either approach:

Option 1: Single service for all marketplaces

With this approach all marketplace fees are posted to the same account.

Example service and account: Marketplace Fees

Option 2: Separate service per marketplace

With this approach you can have each marketplace’s fees posted to its own account (recommended for detailed reporting), or to a single account.

Example service names:

Takealot Marketplace Fees

Amazon Marketplace Fees

Makro Marketplace Fees

Loot Marketplace Fees

Leroy Merlin Fees

Creating the Service(s) in QuickBooks

You need to create the Service item(s) in QuickBooks to be used when fees are added to invoices.

Steps:

Go to Sales → Products and Services

Click New → Service

Enter the service name (example: Takealot Marketplace Fees)

Select the correct account under Income account

Click Save and close to make the service available for invoices and sales receipts

Example:

Creating the Account(s) in QuickBooks

If you do not already have marketplace fee account(s), you can create them in your Chart of Accounts.

When doing so, you can create either

One account for all marketplaces (e.g. a single Marketplace Fees account)

Separate accounts per marketplace (e.g. Takealot Marketplace Fees , Amazon Marketplace Fees, Makro Marketplace Fees, etc.)

Steps:

Click the Gear icon and select Chart of Accounts.

Click the New button.

Configure the Account Details (Account name, number, type, etc.)

Click Save and Close.

Example configuration:

Here is an example configuration for a single Marketplace Fees account.