How do I categorize deposits from other channels like Amazon and Mercari?
Until we add the ability to import sales history from marketplaces like Amazon and Mercari (we have since added support for Poshmark,) the only way we have of getting data about those sales channels will be from the regular deposits into your bank accounts. When you see those deposits, you have a few options on how to treat them, depending on how much detail you'd like to track.
The simplest approach would be to categorize each as Product Sales, so that those net amounts show up in your Profit & Loss. However, the deposit amounts are likely to be net of any fees, and may include sum totals for both product sales and shipping. Plus, if you sell on multiple channels and categorize them all as Product Sales, you won't be able to compare sales by channel.
For a more robust approach, you could consider two tips:
- If you'd like to track your income from each sales channel separately, add sub-categories for each channel under "Product Sales", and use those sub-categories for the deposits from those channels..
- To make sure you track the details behind each deposit, you can split the deposit into multiple categories, allowing you to enter total amounts for not only product sales, but any shipping collected and fees subtracted.
One we add integrations with those marketplaces, we will be able to import the sales information as income, and then the regular deposits will be treated as transfers between accounts (which doesn't impact your profit and loss.)