Singapore Ecommerce Chart of Accounts for QuickBooks: Import GST and Fees

A Singapore online seller on QuickBooks Online lives in cross-border invoices: imported stock and platform fees billed from overseas. The GST treatment of those two is the whole game, and a generic chart handles neither well. This is a Singapore ecommerce chart of accounts for QuickBooks Online, with the import and reverse-charge codes mapped to the right accounts and a clean cost-of-goods split. It ships as a readable reference (CSV) and a QuickBooks import CSV.

Two-step setup, then the codes that matter

The QuickBooks import has no tax column, so you import the structure first and set the GST code on each account afterwards from the CSV mapping. For an online seller the codes to get right are IM (9%) on imported stock, TX-RE (9%) on overseas platform fees that fall under the reverse charge, ZP (0%) on international shipping, and the standard TX (9%) on local costs.

Import GST is claimed on the permit

Most commercial shipments cross the S$400 low-value line, so import GST at 9% is paid to Singapore Customs. The accounting subtlety is the document. That import GST is claimed on the Customs IN-PERMIT, filed through TradeNet by your forwarder, not on the overseas supplier’s invoice. So the supplier bill sits on Cost of goods sold recording the stock cost, and the IM (9%) code carries the import-GST line the permit supports. A separate inbound freight and import duties account holds shipping and duty, with OP (0%) listed for overseas legs.

Platform fees and the reverse charge

Marketplace and processor fees billed from overseas are imported services. A Singapore-registered platform charges GST you claim on TX (9%); an overseas-billed one triggers the reverse charge if you are partially exempt, and you self-account. So marketplace and platform fees and payment processing fees map to TX (9%) with TX-RE (9%) listed as the alternative. Payment processing also lists EP (0%), because some merchant acquiring is an exempt financial service.

Keep cost of goods clean

The chart separates landed stock cost from running costs. Cost of goods sold and inbound freight and import duties sit in the 5000s; marketplace fees, payment processing, shipping and fulfilment, packaging materials, and advertising sit in the 6000s. Holding that line at coding time is what keeps gross margin meaningful when stock and fees both arrive in foreign currency.

How to use it

1. Open the CSV, which maps each account to its QuickBooks GST code, and adapt the names to the store.
2. In QuickBooks Online, go to Settings, then Import data, then Chart of Accounts, and upload the CSV for the structure.
3. On the import wizard, confirm the Type and Detail Type for each account.
4. After import, set the GST code on each account from the CSV, applying IM (9%) to imports and TX-RE (9%) to reverse-charge fees.

The recurring work is the cross-border ledger:

• A2X splits marketplace settlements into sales, fees, and refunds for posting.
• ExpenseFlow reads each receipt and supplier invoice, extracts the currency and line detail, flags an overseas-supplier purchase carrying no Singapore GST so the import-GST claim is pointed at the permit, and posts the transaction into QuickBooks Online against the right account.
• Dext pulls recurring courier and supplier bills into the file.

A reminder on currency: GST is accounted for in Singapore dollars, so convert foreign-currency invoices at an approved rate and keep both the original and the SGD figure. And confirm whose name is on the IN-PERMIT before claiming import GST, since only the importer of record can.

On Xero instead? See the Singapore ecommerce chart of accounts for Xero, where the import sets the GST codes directly. For the full GST picture, see the Singapore ecommerce expenses guide.