How do you work out profit after amazon monthly fees and tax?
I am a new seller.
I have an excel sheet to log my sales and how profitable each item was.
Im interested as to how other new sellers factor in the £30 professional seller fees into this, and 20% tax.
Tax is easy as i guess i can just take 20% off the final profit.
With the fees, shall I just wait until the end of the month and deduct it from my total profit?
Also, does anyone know where I can see the date my account started so that I know the exact dater my fees will come out each month?
Thank you!!
How do you work out profit after amazon monthly fees and tax?
I am a new seller.
I have an excel sheet to log my sales and how profitable each item was.
Im interested as to how other new sellers factor in the £30 professional seller fees into this, and 20% tax.
Tax is easy as i guess i can just take 20% off the final profit.
With the fees, shall I just wait until the end of the month and deduct it from my total profit?
Also, does anyone know where I can see the date my account started so that I know the exact dater my fees will come out each month?
Thank you!!
30 replies
Seller_DTufFoxJuMU0M
Your fees come out of each transaction, the monthly fee is deducted from your money each month before your disbursements.
To be honest I forget about the £30 a month, but I sell that many items its not worth me trying to account for less than 1p per sale.
It would depend on how many sales you make, if you only make 30 a month then obviously that £1 a sale has a higher dent in your profit than if you sell 3000 items…
I personally have all my fees etc worked out before I decide what I am going to sell an item for. I wouldn’t wait to the end of the month to see if I’m making a profit!
Seller_WIUVMKutnVulb
Im a new seller doing arbitrage so I dont have that many items up for sale yet and want to predict my profits, but i suppose this isnt really possible until the end of the month.
Seller_qqCKaiyZvp4Rc
You can definitely estimate your fees before you sell and it’s worth doing
The way you are doing it is good for accounting purposes but for actually selling it’s no good finding out you aren’t profitable until after you’ve sold an item?
Seller_JVTfjuLs0moo6
You should really know and build all of your fees into your selling price in my opinion. You will know the % cut AZ will take, you will know the % cut your courier will add to your shipping price (eg - RM has a 6% fuel surcharge added to all their UK prices) etc etc. All of this plus cost of goods, weight etc should be entered into your spreadsheet. With some simple math this can then tell you what your min/max should be for each item.
It will take time and a bit of digging to get it all set into your spreadsheet, but without that, you really have very little idea what your genuine profits are and you’re taking an educated guess at best. You have no clue at worst.
Seller_DTufFoxJuMU0M
Don’t forget the cost of any packaging etc.
Seller_MKi6wqe68YZuu
You can download transaction reports that break down the deductions for each item.
Seller_icKmqxZuJfcdS
You can workout your product profitability using this tool. They do a free trial!
https://www.profitizer.app/
Seller_xUKHc5xSYJmI4
There is several accounting software which you can use to calculate your profit and loss. There is also an Amazon fees calculator which you can use. Excel is also good for calculations.
Seller_l4lsncMjRf14X
Go to reports, payments, data range reports, generate report, summary, then pick a month, press download and view it. That will tell you all amazon costs for the month or custom date you choose.
Remember to minus tax and the cost of your product. Hope that helps!
Seller_2tFFZMJtc4QEf
I pay for a software that does this, otherwise I’d become insane trying to keep track of all the little fees and charges (which definitely add up)
