Does anyone reconcile the amazon transfer amount received every 2 weeks with their own sales records?
Really struggling to match up what I am expecting to receive with what I actually receive.
(I take into account the fees and the not clearing for 7 days from latest delivery date).
I need to be able to reconcile on our own accounting system.
Have looked at the various reports and on asking Amazon help the keep directing me back to the statement view which gives me the sales made in the period - NOT a breakdown of the invoices paid/cleared by amazon.
I am not going to just presume that the payment rec’d from them is correct.
Reconciling your Amazon transfer amounts with your own sales records can be a challenging task, but it is important for accurate accounting. Here are some steps you can take to help reconcile the payments:
- Start by comparing your sales records, including invoices and receipts, with the sales figures provided in the Amazon Seller Central reports. Ensure that all your sales transactions are accurately recorded in your own accounting system.
- Take note of any fees or deductions that Amazon applies to your sales, such as referral fees, FBA fees, or other charges. Make sure these fees are correctly accounted for in your own records.
- Consider the timing of payments. Amazon typically pays sellers every two weeks, but there may be delays due to processing times or holidays. Take into account the 7-day holding period for funds after the latest delivery date.
- Compare the payment amounts received from Amazon with your own records of expected payments. Look for any discrepancies or missing payments. It can be helpful to maintain a record of the expected transfer amounts based on your sales and fee calculations.
- If you find discrepancies or have trouble reconciling the amounts, reach out to Amazon Seller Support for assistance. Provide them with detailed information about the specific payments or transactions you are trying to reconcile. Ask for a breakdown of the payments made by Amazon for the corresponding period.
- It may also be beneficial to consult with an accountant or financial professional who is familiar with Amazon seller accounting practices. They can offer guidance and help you ensure accurate reconciliation between your records and the payments received from Amazon.
Remember, it’s essential to maintain accurate and detailed records to ensure your financials are in order.