Many businesses rely upon third-party point-of-sale, e-commerce, e-gift or booking applications to sell their products and services. Various retailers and service providers use systems such as Square, Poynt, Salon Iris, GiftFly, FareHarbor and Groupon. Some property owners use AirBnb or VRBO to rent out their properties. Regardless of what third-party application you use, your accountant can create your sales, tax and merchant processing fee entries into your QBO account with the data from these third-party applications. Whether you are a service provider, wholesaler or retailer, we can help you record revenues. We are experienced with customizing accounting entries into QBO for cannabis growers and cannabis retail shops as well. Below is a list of some the third-party applications across business lines that we have worked with for this service:

  • Poynt

  • Square

  • Stripe

  • AirBnB

  • Booker

  • BioTrackTHC

  • Groupon

  • FareHarbor

  • GiftFly

  • Amazon

  • Rosy

  • Flourish

  • Shopify

  • Clover

  • Salon Iris

  • Bookeo

  • Vagaro

  • QuantumLeaf

Your Accountant will Separate Taxable & Non-Taxable Income

Your data will need to be uploaded into a folder within your secure document upload portal or emailed directly to your accountant. This data must include gross sale and tax amounts for each item sold. The data must also include the city and state information to include in your sales tax liability reports. The data should additionally include any returns, credits, discounts given, deposits received, and refunds issued to your customers. Also note that Non-taxable Sales should be separate from Taxable Sales. Be sure to include any per transaction processing fees deducted by the third-party application for payment processing. It is also necessary for you to identify the individual product or service items sold with each transaction.

Your Accountant will Create Custom POS Sales and Tax Reports

With this service, your accountant will send you a notification requesting the point-of-sale system data needed to create the entries for your sales and tax transactions each month. Your accountant will create sales and sales tax liability reports for you by month to use for your State B&O Excise Tax Return filings. Your accountant will enter your sales and tax data into QBO so that it shows up on your monthly Profit and Loss and Balance Sheet reports. Your accountant will upload Monthly Sales and Tax Liability Reports into the From My Accountant folder located within your secure document upload portal.

Regina Pitts
Regina PittsChief Financial Officer
Member of the QuickBooks ProAdvisor Program

Your Personal Guide to Seamless Accounting: Advanced QuickBooks ProAdvisor at Your Service

Hey there! I’m Gina, and I’m the proud co-founder of Lend A Hand Accounting. Why did I start this? Well, I believe that everyone should have access to affordable, efficient, and flexible accounting and bookkeeping services. It’s all about making sure these essential services fit snugly into your budget without any fuss.

We’ve ditched the traditional hourly rate system and adopted a flat fee pricing. You might be wondering, “Why does this matter?” Well, this way, you know exactly what you’re paying for upfront and there are no unexpected surprises. You get to pick and choose the accounting services you need, like a customized menu. And the best part? You’re in complete control of when you start or stop using our services. We’re essentially just a call or a text away, no need for endless phone calls or draining trips to the accountant’s office.

I’m not just any accountant though. I’m an Advanced QuickBooks Online ProAdvisor. That means I’m equipped with advanced expertise and resources to help you leverage QuickBooks Online to its full potential. My goal is to make your accounting process smooth and efficient so you can focus on what you do best – running your business.

Ready to get started? Reach out to me directly at 360-637-4799. We can even kick things off immediately if you’re ready. Simply create a free account, and I can instantly take a look at your books and let you know where you stand.

At the end of the day, we’re here to serve you. We really appreciate the trust you place in us and we’re eager to meet all of your accounting and bookkeeping needs. Looking forward to being part of your team!

Take care,

Gina

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.