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Help with Your Amazon FBA Bookkeeping

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If you need help with setting up your bookkeeping system, then take a look at Jessica Larrew’s GoDaddy Bookkeeping Tutorial for Amazon FBA Sellers.

She has 15 videos where she shows each step of the process of setting up your GoDaddy Bookkeeping account so that you’ll be ready for tax time.

Now, many of you already know that I use QuickBooks Online Simple Start, so you’re probably wondering why I’m doing a blog post about Jessica’s GoDaddy Bookkeeping Tutorial.

First of all, when Jessica came out with this guide a few months ago, I was naturally curious as to why and how she uses GoDaddy.  She answers why in this video located on the GoDaddy Bookkeeping Tutorial sales page:


Go to the sales page and watch this video!

Second, I know that bookkeeping is new and overwhelming for many Amazon Sellers and I wanted to see for myself if Jessica’s guide is in fact helpful and if it’s a course that I can recommend to my readers.

So, I asked Jessica for a complimentary copy of her tutorial so I can learn how she uses GoDaddy and review her guide.

Whats-IncludedShe agreed to give me a copy of the course and added it to my The Selling Family account.

TSF Account

The Selling Family trainings that I own.

In less than an hour, I watched all 15 videos.  Here’s a break down of the different topics covered in the training:

Connecting Your GoDaddy Account: The first video shows you how to open your GoDaddy Bookkeeping account.  At the time of this writing, GoDaddy has three Bookkeeping options and I don’t know if they are the same ones from when Jessica created this video.  If you were to subscribe to GoDaddy on the date of this blog post, I recommend the “Essentials” plan.

Connecting and Importing Your Amazon, Bank and Credit Card Transactions:  Next, there are six videos which show you how to get your Amazon, bank and credit card data into GoDaddy.  When you first connect your accounts and sync them with GoDaddy, most likely not all of your earlier transactions will be imported.  For example, if you were to connect your accounts on Sept 1, you probably won’t have your January 1 through May 31 transactions showing up in GoDaddy.

Jessica shows you how to import your older transactions and I wish that this training was available one year ago when I first tested out GoDaddy.  I manually typed in all of my historical bank and credit card transactions.  Fortunately at the time, I was a new Seller with very few transactions so it didn’t take me very long to key them all in.

Chart of Accounts, Expense and Income Transactions:  After you have your data imported, you’ll want to setup your income and expense categories.  The training has 4 videos which shows you how to do this and also how to assign each transaction to a category.

Helpful HintJessica shows the common categories that applies to most Sellers.  For example, Amazon FBA Sellers will have Amazon sales income, Amazon FBA fees, Cost of Goods Sold, subscription fees and shipping supplies.  Of course, there are more categories and Jessica explains what types of purchases go into each category.

She also shows you how to automatically assign categories to your future transactions based on where you purchased from. For example, you can have all of your future Walmart transactions be automatically categorized as Cost of Goods Sold.

GoDaddy uses the Cash Method of Accounting.   Since I use the Accrual Method, I have my bookkeeping setup in QuickBooks…For information on the two methods, visit the Accounting Periods and Methods page from the IRS website and please discuss with your Accountant which one is better for your business structure!

Tracking Your Mileage: Included in the training is a printable mileage log that you can keep in your vehicle to track your mileage.  In this video, Jessica shows you how to manually add in your mileage into GoDaddy.

Attaching Your Receipts: In this video,  Jessica shows you how to digitally attach each of your receipts to your GoDaddy transactions.  This is a great feature that I have not done myself and will start doing the same in QuickBooks.  Besides having my receipts readily available and easy to find in case of an audit, my desktop and drawers will be less cluttered from not having to save so many paper receipts.

dental records

If you’re looking for a scanner to remove paper clutter, read my review of the Fujitsu ScanSnap s1300i!

Using the Available Reports: We’re all in business to make money and a Profit and Loss report will let you know if your business is profitable or not.  In this video, Jessica shows you how to read your Profit and Loss report in different views and she also goes over her other favorite reports.  I like to review my reports monthly to see how well my business is doing and to see which expenses I can cut back on.

Running Tax Reports: In the last video, Jessica goes over the reports that’ll help you at tax time.  She goes over Annual Net Profit, Estimated Taxes Due, the Schedule C Worksheet and the Sales Tax Report.  If you keep up on your bookkeeping throughout the year, then at tax time, all you should need to do is print your reports and hand them to your accountant.

Great Tutorial – Easy to Understand and Organized in Logical Steps
As you can see, a lot of information is covered in the training.  What I like is that each video is short and to the point.  Most are between 2 and 3 minutes long and the longest is just over 10 minutes.

In general, I personally don’t like to watch videos where the person gets off topic.  I just want to get in and get out quickly and that’s what Jessica does.  She doesn’t start or end each video with chit chat about her day or by promoting her other products.

In all of the videos, she has GoDaddy Bookkeeping up and running on her computer monitor.  This allows you to see each step of the GoDaddy process while she discusses each topic.

It may take you a few days/nights to get your bookkeeping system setup.  Therefore, it’s nice that she doesn’t have one long video that covers all topics. This way, you can do one or two steps, stop and when you come back, you’ll easily be able to find the next topic.

I really like that the tutorial is organized in logical steps and is easy to follow and understand.  If you decide to go with the Cash Method and choose GoDaddy, I highly recommend purchasing the tutorial.

The cost is currently $27.00 and there is a 30-day Money Back Guarantee.

Please visit the sales page to learn more about the tutorial.

Please let me know if you have any questions in the comment form below or on my FaceBook page!

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{ 11 comments… add one }
  • Bob January 8, 2016, 3:30 am

    ” Since I use the Accrual Method, I have my bookkeeping setup in QuickBooks”
    Can a FBA biz use Inventory labs (accrual method based) for monthly reporting into a bookkeeping software that is setup cash method or do they both need to be the same? ( I saw IRS doesn’t like you to change methods)
    (Not asking a CPA question, just asking four your FBA biz perspective 🙂 Thx

    • Diana January 8, 2016, 4:02 am

      Hi Bob, I only use InventoryLab for listing products, tracking COGS and checking profitability on individual items. I don’t use it as a bookkeeping system.

      I know that Jessica Larrew uses InventoryLab for inventory tracking too and uses a cash-based bookkeeping system (Go Daddy).

      Though I don’t know for certain, I would say no. Because with cash-based, you expense your inventory when you purchase it. With accrual, you expense it (COGS) when the item sells.

      In my opinion, if you have a separate bookkeeping system, you really don’t need to use Inventory Lab as a secondary bookkeeping system. It’s great for listing, tracking inventory and profitability but not really necessary for bookkeeping.

      I hope I answered your question. If not, let me know and I’ll try again!


  • Gavin Birdsong July 16, 2016, 2:09 am

    This book keeping software does not do what they promise. Great for personal use but not for business. I was out of the refund window didn’t have time to test it. “which I realize” I was in the wrong. But they didn’t offer to give me store credit or anything. Got the software started using quickly realized I made a mistake this software is very limited for what it provides. Not useful for my type of business. I worked with support rather try to improve product they say well your outside your refund window. Not as good as it was when it was outright. I will slowly be moving my domains away from them. Does not remain linked to ANY of my banks nor does it work anything close to QuickBooks.

  • Diana July 16, 2016, 3:05 am

    Hi Gavin,
    Sorry about your bad experience with GoDaddy. I personally prefer QB because it has the Balance Sheet, but I know some Sellers prefer GD because it imports the Amazon Data automatically.

    Hopefully you are only out the money for only one month. It’s too bad that they didn’t refund the money.. They should realize that sometimes it’s better to give a small refund in order to prevent negative comments about them which will hurt more in the long-run.

  • Leo August 22, 2016, 4:43 am

    Hi Diana,

    Just curious but do you recommend Quickbooks over Go Daddy Bookkeeping?. I like that Go daddy tool integrates with the Amazon Seller account but from your point of view, which one is better in the sense that it is easier to use, better for selling on Amazon, easier to use for tax returns, lower learning curve and cost wise?.


    • Diana August 23, 2016, 1:28 pm

      Hi Leo,

      I chose QB over GoDaddy because that’s what I knew from using it before and because it has a Balance Sheet.

      I know that GD integrates with Amazon and I tested it out. I didn’t care for it because it clutters up your registers because it imports over every individual transaction. With QB, I run reports and manually enter in my numbers every 2 weeks at disbursement.

      I believe the cost for both is about the same, give or take a few dollars.

      For taxes, GD runs a schedule C for you and QB doesn’t.

      You can get by with using either one. Jessica Larrew uses GD and she has a great tutorial to help you with getting started.

      For QB, Anna Hill has a course to help Amazon Sellers with setting up and using QB. I haven’t taken the course, but you can find out more about it in Anna’s Facebook group, Accounting We Will Go.

      Good luck with setting up your accounting system and let me know if you have any more questions!


  • Tim Schmidt September 5, 2016, 1:52 pm


    My questionis. With Godaddy Bookkeeping Being that it syncs every amazon sale and then at the end of the pay period it syncs the payout amount should I delete the payout from income. It seems like it will count 2x if I leave it. Plus it also show up in the expense dept as well . Do I leave it in the expense tab. Thanks

    • Diana September 5, 2016, 2:09 pm

      Hi Tim,

      I’m not a GoDaddy user, so I took a quick peek at Jessica’s tutorial. She selects the Amazon deposits and then moves them to the Non-Business Category -> HIDE (Duplicate/Wrong Income).

      Not sure why your deposit is also showing as an expense, but you would probably need to do something with it too.



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About Diana

I am working towards creating a full-time income by selling on Amazon. It's a lot of work but very fun! If you're interested in selling on Amazon, be sure to follow my blog as I'll be providing you with lots of tips!


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