Accounting for Amazon Sellers
Hi everyone,
So we have started using FreeAgent as our accountancy software. Before this we were maintaining manual spreadsheets. We are relatively new to Amazon, started 2/3 months ago. Recently we have seen huge increases in orders, meaning more transactions.
Maintaining manual spreadsheets at the beginning was fine as we didn’t have much volume going through Amazon. However, now I want to use FreeAgent to give us up to date financial information. I plan on maintaining FreeAgent every few days.
I basically would like to know if anyone else on here maintains their own books? What reports do you use to see total revenue and fees per day, etc? I know there are a few reports that show individual transactions, but is there any report that produces daily transactions for example? Currently I am using the ‘Sales and Traffic’ report in ‘Business Reports’ for our daily sales. Another issue is that I would like this to reconcile to our total balance on Amazon.
If anyone has any advice that would be great. I am a qualified accountant myself so like to have everything to the penny without spending ridiculous amounts of time reconciling the accounts!
Accounting for Amazon Sellers
Hi everyone,
So we have started using FreeAgent as our accountancy software. Before this we were maintaining manual spreadsheets. We are relatively new to Amazon, started 2/3 months ago. Recently we have seen huge increases in orders, meaning more transactions.
Maintaining manual spreadsheets at the beginning was fine as we didn’t have much volume going through Amazon. However, now I want to use FreeAgent to give us up to date financial information. I plan on maintaining FreeAgent every few days.
I basically would like to know if anyone else on here maintains their own books? What reports do you use to see total revenue and fees per day, etc? I know there are a few reports that show individual transactions, but is there any report that produces daily transactions for example? Currently I am using the ‘Sales and Traffic’ report in ‘Business Reports’ for our daily sales. Another issue is that I would like this to reconcile to our total balance on Amazon.
If anyone has any advice that would be great. I am a qualified accountant myself so like to have everything to the penny without spending ridiculous amounts of time reconciling the accounts!
Seller_7VbclcPFFRTnc
Don’t use these for accounts as they don’t include refunds, plus they do include cancelled orders
I do my own, still with spreadsheets , and use reports - payments - date range reports - generate report
I select summary to give an overview, and transaction if there’s anything I need to check - I only sell in uk though
I also use reports - tax document library for my vat invoices
3 replies
Seller_7VbclcPFFRTnc
Don’t use these for accounts as they don’t include refunds, plus they do include cancelled orders
I do my own, still with spreadsheets , and use reports - payments - date range reports - generate report
I select summary to give an overview, and transaction if there’s anything I need to check - I only sell in uk though
I also use reports - tax document library for my vat invoices
