A2X Overview for Accountants and Bookkeepers
You might also be emailed a proration invoice if you’ve been charged a prorated amount. Do keep in mind, it is only the accounts connected to your bill that will count toward your total account count. Under the partner program, the more accounts you have, the more benefits you receive. If you have any discounts on your account, they won’t be visible on this page. You’ll be able to see the applied discounts later in the process.
Once you’ve reviewed the subscriptions, click ‘confirm and finish’ to finalize the migration. The parent account is the account that the subscription was first set up on. The child accounts are all of the sub-accounts linked up under the same subscription. Although you’ll only see the parent account in your list, all of the sub-accounts linked will also migrate over.
A2X is designed for accounting and bookkeeping firms to make reconciling easy and accurate. These products are not intended to diagnose, treat, cure, or prevent any disease. For best results, we recommend taking 1 to 2 capsules of A2X when you wake up in the morning so that the calming nutrients can work throughout the day.
Once you’ve migrated to A2X Simplified Billing, all future subscriptions can be added to your new, single monthly invoice. If you are utilizing the Cost of Goods Sold feature within A2X, the inventory account assigned in the COGS tab will be an Asset Account. Liability break even analysis for restaurants Accounts These accounts are the debts of the company owed to creditors and other outsiders of the business and will generally have a credit value. Postings made to a liability account will appear on the Balance Sheet rather than the Profit and Loss Report.
- If the balance has a debit balance, it can mean serious trouble for the future of the company.
- One example where A2X users use this option is baby products in the UK.
- If you are utilizing the Cost of Goods Sold feature within A2X, the inventory account assigned in the COGS tab will be an Asset Account.
- They let you group many different SKUs into single line items for special accounting or tax treatment.
- If there are no accounts you’d like to add, you can select ‘Skip this step’.
- If the business is solvent and trading, this account will be a credit balance.
Asset accounts make up the Balance Sheet Report and are not visible on the Profit and Loss Report. If there are other users at your organization that need the ability to add subscriptions to your monthly bill, please contact us at It’s important to note that you don’t need to be the admin of a subscription to add it to your bill; you only need to have access to the account. A2X will show you a list of the accounts you have access to, so you can select which ones you’d like to add to your bill. There are lots of different scenarios, and your financial adviser or tax adviser can help you choose if and when this setting is appropriate. One example where A2X users use this option is baby products in the UK.
There are some situations that might prevent one of your accounts from being migrated, such as if an upgrade is pending. The “Group by Product Type” option works really well if you have consistent formatting in your SKUs or a SKU list that’s not changing too often. Log in to your A2X account, go to ‘Settings’ in the main menu and then select Product Types as shown below.
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These accounts relate to the sales/revenue earned from selling goods or services and generally have a credit balance. A business owner/manager will want to see an upward trend when analyzing this account. Choose the option “Group by product type” and click on the “Update Invoice Settings” button. More information about regular expression patterns is available HERE, if interested – using patterns is useful for very advanced cases. You won’t be charged for your new total subscription amount until your billing date, however, you might be charged a prorated amount.
Adding your subscriptions
The new process is more automated and allows more control for A2X users, especially A2X partners. We’d like to say upfront that product types are generally an ‘extra-for-experts’ setting that not all users are going to want or need. They let you group many different SKUs into single line items for special accounting or tax treatment. Examples include laptop computers, goodwill, cars, cash, buildings, inventory. If money is owed to the business (products bought on credit), then the amount owed will sit on a debtor account which is an Asset Account. A bank account is also considered an asset account provided that an overdraft facility is not available.
If the business is solvent and trading, this account will be a credit balance. If the balance has a debit balance, it can mean serious trouble for the future of the company. Capital Accounts These accounts will represent the amount of capital invested into the business by the owners. If the company makes a profit, the Capital Account will increase by that amount.
Setting up your billing
There are many different types of transactions in ecommerce accounting including sales, discounts, refunds, fees, pending payments, gift cards, sales tax and more. You can choose to map each category type to an account within QuickBooks or Xero. For advanced mapping, you can map at a sub-category level if you prefer to have more control of your mapping, and you can easily refine your mapping at any point. On the next page, you’ll see a list of the accounts you have access to but you aren’t the billing admin. For example, you might have been invited to join an account, but the billing was set up by someone else (or is linked to a different email address). There might be accounts you’d like to add if you’re setting up the billing account for your practice.
Different types of accounts fulfill different purposes but are all related. Some users also use this option to track broad categories of products in their P&L reporting for management. Regular expression patterns allow us to create special patterns of our SKUs to save maintaining lists as we add/remove SKUs from the catalog. As an ecommerce seller ensuring you collect the right taxes for your sales, and account for those taxes is an important responsibility. You may benefit from using tax apps such as Avalara, Quaderno, Taxify or Taxjar to verify how much your client is required to remit. As an accountant or bookkeeper, you have a few options to get started with A2X.
Your current subscriptions will likely all have different billing dates, which means some proration might occur to bring everything in line with your new billing date. If you have accounts that are on a multi-plan, meaning one subscription covers multiple accounts, only the ‘parent account’ will be displayed in your list. Hover over the account to get an explanation of what the error is. Depending on the error, you may be able to progress, or you may need to reach out to The Simplified Billing functionality has very strict security standards, which means some credit cards may get declined.
How does A2X work with Sales Tax?
There might also be accounts you’d like to leave off your bill, for example, if your client wants to pay for this directly. Once you’ve added your billing information you’ll get access to the ‘My subscriptions’ https://quickbooks-payroll.org/ page. Here there will be a list of all subscriptions with a billing email that matches the email address you’re currently logged in with. Keep in mind, you get the chance to add other accounts on the next page.
