How many of you use Quickbooks to keep track of all your financial info?

Good evening!

Does Amazon keep or have an accurate financial report instead of using QB?

Although it is not required do most people sell under their name or get a business license?

Is one way better than another?

I use quickbooks for my Amazon business and I love it. QB connects directly to Amazon and pulls all the data over for you. You just need to verify a few things so the system understands how to categorize items and your all set. Additionally, whether or not you sell as an individual or as an LLC, your taxes will be the same because an LLC is taxed like a sole proprietor. The benefit of having an LLC is to protect your personal assets from Business loss. For example if another seller or brand decided to sue you (unlikely unless you violate trademark) they can not come after your home or your car, only assets that belong to the business.

Many sellers use QuickBooks to manage their financial information, but Amazon also provides detailed financial reports through Seller Central. Whether to sell under a personal name or with a business license depends on various factors such as liability protection and tax considerations.

Also I’ve read if you have an LLC, its convenient you track all your expenses so you can deduct stuff when the taxes time comes.

I havent used quickbooks but have you tried sellerboard? It gives a great breakdown, based on expenses, Revenue inventory and so forth…

Seller Board is specifically designed for Amazon sellers, providing detailed analytics and insights tailored to Amazon businesses.

I haven’t sianed up vet but this is the answer I was looking for.

Thank you.

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You are more than welcome.