is an e-commerce platform that is owned and operated by Amazon.com. It enables third-party sellers to sell either new or used products on a fixed price online marketplace. Furthermore, depending upon the usage the billing reports are created. The AWS Cost and Usage report gives in-depth information about the use of AWS resources and the projected cost for the specific usage.
There are various software that help with managing the various business transactions that occurs through Amazon. One of the state-of-the-art technologies can be managed by the automated accounting by A2x which gives a detailed insight for the sales, fees, cost of goods sold and FBA inventory.
A major concern that many sellers often face is the taxation as many of the sellers of unfamiliar with the various terms such as sales tax, VAT, nexus, etc. For a clear picture, there are two main types of taxes – 1) Income tax and 2) Sales tax also known as Value Added Tax (VAT) or Good and Services Tax (GST) in some countries.
The A2x software makes accounting easier by automatically fetching the latest Amazon settlement transactions, and post summarized transaction to your accounting system.
Hence, giving an inclusive insight for every penny of the Amazon settlements.
Additionally, it also helps you save time on expanding your Amazon business while the software takes complete control of the accounting management.
The vital about the software is its accuracy and is considered a leading and trusted software to over 1000 Amazon sellers who can positively rely on to build your business.
Detailed reports can be prepared for Amazon business through COGS per unit, live inventory report and profitability report.
- The accounting for COGS allows you to better administer your inventory by treating your product inventory as an asset until you sell the product. It also includes the procurement costs, production costs, taxes and duties, listing fees and inventory storage fees and costs.
- The live inventory and comprehensive profitability report enables you to plan and adapt to the marketplace in a smarter and faster way. It gives an edge of advantage and helps make complex automations get easier.
As complicated the whole process may seem, with the use of the right software the complete process can be a in proper system. Some of the best tools that can be used for the process are the A2x for account integration and Xero or Quickbooks for accounting. These are one of the best tools to make your financial accounting seamless and profitable.