How Intuit QuickBooks and Amazon Business automate purchase reconciliation for small businesses
The integration takes the heavy lifting out of expense management, so customers can focus on what matters most—building their business.
The integration of Intuit QuickBooks with Amazon Business enables small business customers to seamlessly automate purchase reconciliation and categorization when making purchases on Amazon Business. QuickBooks users purchasing on the Amazon Business store can now have their expenses automatically imported with purchase details, line item descriptions, and costs for each transaction, reducing the need for manual data entry.
Small businesses often have few employees and do not have the luxury of dedicated functions to keep operations running smoothly. Frequently, the business owner is handling most—if not all—aspects of the business, and in the many jobs to be done, one of the most time-consuming—yet most essential—is accounting.
Streamlining the expense management process is one of the main value propositions of QuickBooks. It’s an online financial platform that serves as the source of truth for small businesses. It helps ensure books are organized, accurate, and compliant so owners not only have a clear, day-to-day view of their business, but also during critical moments such as tax time and when they need to demonstrate their business’s health to banks and lenders.
Amazon is one of the most expensed vendors on QuickBooks. In a recent study by QuickBooks of its users, it found that hundreds of thousands of its customers had manually reconciled a business purchase on Amazon. According to Blake Adams, Director of Strategic Partnerships at QuickBooks, this presented an opportunity to integrate with the Amazon Business store, which serves millions of customers globally.
“We noticed there were a lot of mutual customers between QuickBooks and Amazon Business, and what we heard from these customers is that manually reconciling these purchases was taking them or their accountant too much time. It was a challenge we heard loud and clear. Integrating with Amazon Business automates transactions into QuickBooks, both for purchases and returns,” said Adams.
“Our job is to give our customers their time back, and provide the visibility to take valuable actions to grow their business and become more successful.”
Teton Wood Blooms is a small business that started as a hobby for April Preuss. Working with flowers carved from wood, Preuss creates flower bouquets and décor that provides a unique proposition to the wedding industry—florals that last a lifetime.
As the sole employee of the company, Preuss wears multiple hats—from Chief Designer to Bookkeeper—and her main focus is ensuring her customers get the best product for their weddings—on time. Preuss, who uses Amazon Business at least once a week to order office, floral, and shipping supplies, had been manually entering purchases into QuickBooks. According to Preuss, this took between 10-30 minutes per week, and as her business began to grow, it became cumbersome. By linking her Amazon Business and QuickBooks accounts, the process of expense reconciliation is now automated.
“Linking my Amazon Business account and QuickBooks was simple and easy,” said Preuss. “While I used to upload my Amazon Business receipts and enter them manually, my transactions are now automatically imported which allows me to focus on creativity and delivering for my customers. It’s at least a few hours a month in time savings, and it is just so simple."
Iconis Group is another example—a bookkeeping firm benefitting from the integration. Started by Cathy Iconis in 2009, Iconis Group’s mission is to help its clients better understand their numbers to create a holistic view of their business, build confidence, and help reach their goals. What started solely as a bookkeeping consulting service, she now dedicates most of her time training other accountants to build their own practices.
For her clients that are Amazon Business customers, she sees them use the store primarily for office supplies. Where she previously manually extracted and imported expenses into QuickBooks using a third party application, this new integration automates the process, and she recommends it to all of her students and peers.
“The integration of Amazon Business and QuickBooks increases the quality of my bookkeeping data, while also allowing me to spend less time managing it, so it’s a win-win,” said Iconis. “QuickBooks pulls in the line-item description for each item I order on Amazon Business, so I no longer need to enter it in manually. This makes my job easier by bringing in the full detail of expenses, while still being able to get a bigger picture of what is happening.”
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