Record the Reimbursement
Good afternoon everyone,
I have an accounting question for you.
How do you record the “Reimbursements”?
I see this entry in the transaction section in “Other transactions”.
I am not talking about customer returns, but when Amazon gives you money because they lost your item in the warehouse or they damaged it.
How do you record this entry? Do you make an invoice to Amazon?
Thank you all
Paolo
11 replies
Seller_EJIX7rqDNQJi2
Go into “Reports” - “Fulfillment by Amazon” - “Payments” - “Reimbursements”.
Seller_daVznkumzns7r
I know how to download the report, i dont know ho to record the reimboursement in my accountability.
How can i do it?
Seller_daVznkumzns7r
It is very difficult to account for, because if I have to insert it in the sales, I have to invoice someone. Right?
Seller_uSBqWAlkccs2f
I have a similar issue when I issue a partial refund. What I actually do is write it in my accounting spreadsheet under a separate column just for ‘refunds’. In practice, because I am not near the VAT registration threshold it never actually becomes important. Because does it or does it not go to turnover? If it made a difference as to whether or not I was to have to register for VAT I would then have to make a firm decision what to ‘do’ with it (once in the column). As it is, if I do a profit and loss (which I rarely do) I deduct it from my income, along with stock purchase and P&P - hence keeping it in the separate column. But goodness knows whether this is correct!
Seller_daVznkumzns7r
What is the accounting writing that you use for Amazon Reimbursement?
So do you register values without VAT, correct?
Thank you very much
Paolo
