Statement and Balance Reconciliation
I was speaking with my accountant yesterday about reconciliation of Amazon disbursements.
I couldn’t find anywhere where Amazon provide a running balance of each month start and end. The date range reports do not show a starting and ending balance.
He was horrified and said “You must be wrong. How can a company as big as Amazon not provide you with this information? How do you reconcile the statements?”
“With great difficulty!” I replied.
Furthermore that Sellers Fees Invoice do not exactly match the fees charged? Why is this?
And when I thought about it more, he is right or maybe I am wrong.
Is there a report available ANYWHERE that shows a running balance of transactions. The Monthly Transaction Reports do not show a running balance as far as I can see. I’ve looked everywhere.
Our business account with our bank only costs about £20 a month to run and they provide statements. This is what our accountant is looking for.
I sent him a screenshot of the disbursement screen and he couldn’t get his head around how the information was presented. He was very critical of it.
41 replies
Seller_fFylOZ9rejlBH
Has NO-ONE got any advice on where to find such information? It’s been 6 days since my initial post. Someone, somewhere must have a clue.
Perhaps no-one bothers accounting for tax properly? I must be the only idiot who is bothered about paying the requisite taxes and wanting accurate information.
Perhaps you’re all afraid to speak out.
Why is no monthly statement available from the biggest company on the planet? I’ve read numerous posts from people and experienced it myself how the fees on the seller invoices do not even appear to match up with what almost any daily fees show.
It’s all very smoke and mirrors.
The crux of the matter is we are each responsible for our tax affairs and Amazon do not seem to care that they do not provide accurate information for tax purposes. The onus is on us so whether you pay your bank £20 or £200 a month in charges per month and get a statement, you may pay Amazon £200 - £2000 a month in fees, you don’t get a statement that can be reconciled easily like a bank statement.
As my accountant said, it beggars belief really.
(Sits back and waits for a kicking from the fanboys!)
Seller_Di581pXWuEkxG
Getting stropey on here won’t help.
However, I do feel your pain as I agree with what a nightmare it is to do. I can only advise what we do, whether it is right or wrong, but it does allow us to balance. Go to:…
Reports
Payments
All Statements
Then you will have a list of all statements which will agree to each disbursement you have had to you r bank account.
Go to “view summary” on one of them and you will have your statement, with start and end balance and charges. At the bottom you can view all transactions that have made up this balance.
We use Sage 50 and reconcile to this, shout if you need more help.
Seller_7VbclcPFFRTnc
Silly question but how have you been doing it since 2013 ?
Depending on what system of accounting you use, whilst it’s important to you to reconcile your withdrawals to your bank statement, its the credits to your amazon account that you should be reconciling on your tax returns - not the money going into your bank account
ie take the last week of the tax year 1st to 5th April, you need to account for sales made that week even if you don’t withdraw to your bank until 7th April
Seller_Di581pXWuEkxG
If you use Sage 50:
Each sale is in as an invoice, I would hope anyway. The revenue from each sale goes in to a “bank account” on Sage, so you have a balance in your accounts. Then you reconcile to the AZ statement and if all entries aren’t reconciled at a month end, they are still in your accounts. It doesn’t matter if they are reconciled or not.
I am from a banking background, before ecommerce, and reconciling was my job before software existed ! 
Seller_Di581pXWuEkxG
Blockquote
Silly question but how have you been doing it since 2013 ?
Exactly what I wanted to ask
Seller_fFylOZ9rejlBH
No disrespect was intended to any genuine hardworking business seller on this forum.
Sorry if it came across like this. I just hate it when people defend Amazon when there really shouldn’t be a need to. Remember we pay them and Jeff will soon be going on his jollies into space whilst I’m still here reconciling my Amazon transactions.
Seller_fFylOZ9rejlBH
@Twinsel97 Was that information of any use to you?
