eTail Support is designed to help Amazon sellers with accountancy
Are you selling on Amazon or considering expanding your business to the platform? If so, it’s essential to use an ERP system that is built to handle the unique aspects of Amazon accounting to ensure accurate financial reporting and effective decision-making. In this guide, we’ll explore the key differences between Amazon accounting and accounting for a company operating its own web store.
When selling on Amazon, you’ll encounter various fees, such as referral fees, subscription fees, and fulfillment fees. As an Amazon seller, it’s vital to account for these fees as part of your cost of sales and to be able to break them down by product where possible, so that you can understand the true profitability of each item that you sell on Amazon – eTail Support gives you this facility.
Sales on Amazon are subject to the platform’s policies, including payment processing and refund policies. It is important that you recognize revenues appropriately based on Amazon’s payment schedules and make necessary adjustments for returns and refunds as they occur. eTail Support automates much of this work and helps you to ensure that you can include returns costs and refund charges in your product by product profitability analysis.
Using Amazon FBA (Fulfillment by Amazon) requires you to account for inventory stored at Amazon’s fulfillment centers. This can impact inventory valuation and carrying costs.
eTail Support updates your inventory information from Amazon on a daily basis.
Many sales made through Amazon are subject to sales tax or VAT, Amazon simplifies sales tax accounting by collecting and remitting sales tax on behalf of sellers in certain jurisdictions, however it does not in others and understanding and correctly accounting for your sales tax and VAT liabilities is vital when selling on Amazon, eTail Support is pre-configured to do this.
Advertising on Amazon (e.g., Amazon Sponsored Products) is an essential part of many sellers’ marketing strategies. The accounting approach for these expenses is complex and tracking costs at an item level can be difficult, but it is an important part of ensuring overall profitability. eTail Support can help you to achieve this.
Buying goods overseas to sell on your local Amazon marketplace, or selling on Amazon’s international marketplaces will require you to account for currency conversions and fluctuations when recording transactions and to consider exchange rates when setting sales prices.
eTail Support has comprehensive tools to help you to manage exchange rates and multi currency selling.
Understanding the unique aspects of Amazon accounting is crucial for businesses selling on the platform. From platform fees and revenue recognition to inventory management and sales tax collection, knowing these key differences will help you ensure accurate financial reporting and make informed decisions for your business. eTail Support is a vital tool to help you navigate Amazon accounting.
Process orders from any platform or marketplace in eTail Support quickly and easily, scan each item or work from paper lists, ship your orders your way.
Produce shipping labels in real time for the best service for each order.
eTail Support’s integrations download orders from marketplaces & web stores saving you time and money.
etail Support does NOT require costly and inaccurate add-ons to connect to your sales platforms.
Manage your stock in multiple warehouses including 3PL & FBA in real time.
Give accurate delivery estimates to customers, reduce stock-outs & improve cash-flow.
eTail Support is hosted in the cloud for maximum availability and flexibility, you can access our app from from anywhere with 24×7 support
Use eTail Support on Mobile, PC, Mac or Tablet from anywhere in the world.
Business Information from Sales Systems is usually wrong.
In contrast, eTail Support provides reconciled accounts based information based on a double entry general ledger which is always correct.
You can buy 3PL, Logistics, Finance & Admin or Customer service help directly from the eTail Support app.
Get the people that you need and pay them by the task with no long term commitment.
eTail support saves you time and money on product management tasks.
Our app can automatically translate products titles and prices and keep stock levels up to date across unlimited sales channels without human intervention.
No matter how complex your business is we can help you understand it and run it really well.
eTail Support accurately considers multiple currencies, languages, warehouses, sales channels and worldwide sales tax and VAT systems.
Automate purchasing to cover run rate with our simple, easy to use smart purchasing functions.
Goldilocks Purchasing is easy with eTail Support, Buy what you need, when you need it – not too much and not too little.