There’s no getting away from it – Amazon is complicated. You need to manage listings, customer service and refunds, fulfilment, ensure you meet Amazon’s standards (cancellation rates, late shipments, order defects etc), order products, and manage staff. The last thing you need is to have to worry about the accounting and taxation implications. That’s where a specialist offering dedicated Amazon Accountant services can help.
Like most marketplaces Amazon makes regular settlements after deducting their various fees and charges. If you are VAT registered a single settlement can comprise elements of up to 7 different VAT categories or rates. If you use Amazon Pan EU FBA programme and have VAT registrations in other EU territories then there will be significantly more.
You may of course not be restricted to Amazon and may sell on other marketplaces or platforms. This increases the complexity of your business and your accounting is no different in that respect. You will probably use an order management system like Linnworks or Expandly which will also impact your accounting process.
At Elver Consultancy we work with Amazon Seller Accounts on a daily basis and use applications like Xero and A2X to streamline the accounting process.
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Elver E-Commerce Accountants are featured on the Amazon Service Provider Network. If you would like to know more, please give us a call.
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