How do Amazon Merchants Reconcile in QuickBooks? Webinar
One of the biggest struggles for merchants that sell on Amazon Seller Central; or participate in Amazon FBA is how to reconcile their orders with the payments received. Amazon pays their merchants either weekly, bi-weekly, or in some rare cases daily. The majority of merchants I work with are paid bi-weekly or weekly. They also combine all types of payments in your settlement; making it almost impossible to truly see the details behind Seller Central versus FBA sales.
I can’t stress how important it is to understand what’s going on with your Amazon accounts; however it’s definitely not an easy task – until now. Many merchants take it on faith that they are getting paid for everything and they try their best to understand what is selling and how profitable each product is. You may be pulling your data into an order manager, re-keying them into QuickBooks, or maybe you are downloading the settlement reports and you’ve figured out some macro’s and formatting that you run each time – all with the hopes of understanding the piles and piles of data. A lot of merchants are only recording what comes through the bank; and I can’t tell you how many times I’ve seen merchants forget to record the fees (which add up quick!). The settlement reports contain a LOT of data, and the format is not always consistent. It’s amazing what’s really in the ‘Other’ charges; and consistency isn’t
When selling on any marketplace the profit margins can be extremely tight; therefore a merchant must have a clear understanding of what’s selling, what’s not, what is making them money and what is costing them money. If you are an FBA merchant you need to understand this ahead of time so you can replenish your product in a timely fashion; after all – if you are out of stock you are not making money. You also need to understand your fees and adjustments; your profit margin may be smaller than you realize.
I have been asking (ok, kind of bugging 🙂 ) a developer for the last few years to come out with a program that would help Amazon sellers with this task. I couldn’t be happier to announce the release of Communiqué for Seller Central from Altaireon. This new program will not only reconcile your Amazon settlements; but also give you complete insight to your Amazon business! Whether you are an Amazon Seller Central merchant, an Amazon FBA merchant; or both – this is the program that you’ve been waiting for!
Communiqué for Seller Central is a feature rich, extensive, and powerful reporting platform with many innovative features, dashboards, reports, and utilities for the Amazon market place. When selling on Amazon, you need every advantage you can get and it won’t take long before you wonder how you managed without this program.
- Business intelligence, analytics, and data mining to illuminate your Amazon sales
- Dashboards and data analyzers to assist with your tactical and strategic decision making
- Transparency and detail that will help you visualize the many facets of your Amazon sales
- Tools for analysis, reconciliation, forecasting, replenishment, etc. of Amazon and FBA sales
- Settlement file processing to view payments for orders, adjustments, and other charges
- Accounting Summary and other reports to view your settlements like you’ve never seen them before
- Merchant and FBA order file processing for reconciliation, forecasting, and analysis
- Buyer section for data mining so you can get to know who’s buying what and from where
- Gross Margin ROI, Cohort Analysis, Variance Sales, and many other sales analysis reports
- Sophisticated product replenishment and analysis reports to maintain sufficient stocking levels
- Price floor calculator to help account for costs and maintain margins
- Product Analyzer, Turnover Rate and other sophisticated inventory management reports
- Supplier sales and other extensive analysis reports
- Calendaring for scheduling events, alerts, follow-ups, etc.
- Plus much more…
I am thrilled to be part of this exciting announcement and will be joining Altaireon for the upcoming webinars to discuss many of the accounting aspects of selling on Amazon. We will dive into reconciling payments with orders, analyzing sales, best practices, and how Communiqué for Seller Central can resolve many of the accounting challenges you face when selling on Amazon.
I hope you will join us on one of the webinars listed below; you will not believe your eyes! Make sure to bring your questions and be prepared to have an ‘Oh WOW; that was easy’ moment!
Don’t wait – sign up today; this is the program we’ve all been waiting for!
See you there,
Register for a session now by clicking on a link below:
Tue, Sep 9, 2014 2:00 PM – 3:00 PM EDT
Thu, Sep 11, 2014 1:00 PM – 2:00 PM EDT
Tue, Sep 16, 2014 2:00 PM – 3:00 PM EDT
Once registered, you will receive an email confirming your registration with information you need to join the Webinar.
Required: Windows® 7, Vista, XP or 2003 Server
Required: Mac OS® X 10.5 or newer
Required: iPhone®/iPad®/Android™ smartphone or tablet
Leave a Reply
- The Great Debate – QuickBooks Desktop vs. QuickBooks Online
- Using Account Numbers in Your QuickBooks Chart of Accounts
- QuickBooks Creating a More Meaningful Payroll Expenses Section
- QuickBooks Tip - Child Support Garnishments
- Calculating & Displaying Fringe Benefits on a Certified Payroll Report
- How To Turn On and Use Manual Payroll in QuickBooks
- Create a QuickBooks Job Cost Report With Hours & Payroll Costs
- QuickBooks Payroll Tip - Tracking Employee Advances or Loans
- QuickBooks for Contractors Tip – Basics of Progress Invoicing
- QuickBooks Tip - Job Costing Starts With A Simple Item
- QuickBooks Tip-Creating a Functional Payroll Liabilities Section
- QuickBooks Tip: Important Facts About Items Left as Billable
- Welcome to the QuickBooks for contractors blog
- QuickBooks Tip-Handling Employee Reimbursements for Expenses
- QuickBooks Tip - Determing Cost of Goods Sold
- QuickBooks Tip - Handling Retainage
- QuickBooks 2015 Announced - Important System Requirements
- How to Calculate & Display Retainage on an AIA G-702/G-703
- Tips for Effectively Using QuickBooks Purchase Orders
- Straight from the IRS - Social Security Tax Reduced to 4.2%