Transaction report that Matches Payments
I need some help with accounting / invoicing of amazon sales. Currently we take the Transaction reports Listed under Reports repository and use that to invoice one month of sales, returns and fees etc. My accounting depart does not like this since it impossible to apply the payments to the monthly invoices. Is there any way to run the details for the Payments them selves that is similar to the transaction report? All the reports I see for the payments look like there will be some major excel work to get into that format.
Transaction report that Matches Payments
I need some help with accounting / invoicing of amazon sales. Currently we take the Transaction reports Listed under Reports repository and use that to invoice one month of sales, returns and fees etc. My accounting depart does not like this since it impossible to apply the payments to the monthly invoices. Is there any way to run the details for the Payments them selves that is similar to the transaction report? All the reports I see for the payments look like there will be some major excel work to get into that format.
18 replies
Seller_Qbd0RsfZFEZBY
Your going down a rabbit hole.
We started out trying to do the same thing and its a mess.
For the last 3 years we just use the monthly summary and manually enter that into QB.
Seller_JQ2Dj853XJZRt
the way we enter data into QB is as follows:
Every time we get a payment we enter an invoice as follows:
shipping cost from Shipstation.
items sold from the business reports, at cost
then we have an item called Amazon that is the difference between the total of the above and the payment and is our gross margin for that payment.
Example;
Payment of $5000
Invoice:
Shipping $1000
Item 1 at cost of $50 qty 20 $1000
Item 2 at cost of $20 qty 50 $1000
Item 3 at cost of $10 qty 100 $1000
Amazon $1000
for an invoice of $5000.
This enables us to keep track of whether we are making money on Amazon. This month because we did not receive a postcard Amazon deactivated our account for a couple of weeks and so we have a lot of fees for removing FBA inventory. So this pay period the Amazon item will be a big negative. But we can look at sales of the Amazon item over the year and look at how much gross margin if any is being made.
Seller_Qf1zJ93DefW7v
We currently use software called Webgility that syncs our inventory for FBM and sales receipts into Quickbooks, including bundles and Amazon fees. It is not priced too badly if you are an extremely active seller and will help you save some time. I'm not sure if this is something that can help you. As a small business, using the software has saved us a full-time job. Only caveat is we do not track our FBA sales with it.
Seller_8uc0P1EJEs5cJ
I wrote a step by step guide on how to do this, but the Forum Bot is saying it includes "Inappropriate language" in the post and won't let me post it.
There was nothing inappropriate, or even close to inappropriate. It was a step by step SOP guide on how we reconcile payments - very easy, but un-postable here. I
kept it for a future moment when Amazon's Inappropriate Language bot improves. Ridiculous, really, as I spent about 20 minutes writing this up for you!
