I’m selling on Amazon, Ebay and Shopify. Should I list everything form my theree sales channels in one Quickbooks account?
My answer is divided into two:
First, if all your sales channels are under the same business – the same name, EIN – then you can keep one bank account for this business. You should classify each sales channel’s income and expenses separately in your books.
This is the way to do it. It will keep your books in order, make sure you don’t make any errors and, most importantly, help you see a better picture of how each one of your channels is doing, if it is profitable or not – Which is, by the way, the idea behind accounting…
Now, if each sales channel is a stand alone business (for example if your Amazon business is separate from your Shopify business, registered under a different name and EIN) then you need to list your transactions separately. Meaning that you should have a stand alone QB account for each business.
I would consult an accountant if I were you, to see what is the best course of action depending on the status of your businesses. Perhaps you can merge them and register all under one EIN. I’m not sure, I’d need to have more information.