Accounting Amazon FBA
I am currently working with accounting to reconcile sales and purchase invoices. I realized when the accountant did the last VAT return there were no assets (Stock) on the profit and loss statement. So I want to ensure that I account for any stock kept at the fulfillment centers. Is there a way to do a stock report and also to allocate a cost of goods at Amazon?
Also, how are funds on Amazon accounted for in terms of accounting? I understand the funds sent to the business bank is accounted for on the accounting side as sales but what about the funds on the Amazon account, does this not have to be accounted for and how do I provide this to the accountant?
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Seller_esvgLzKXw2YAl
Surely that’s a conversation you need to have with the accountant?
As to working out your stock, there are various FBA reports, that will tell you how many of an item is there. But there is nothing that will tell you the cost value, for your accounts. This is something that you need to work out separately. It’s easy enough. Just go down the list and multiply by your cost price.
The only way of automating this kind of thing, is probably to use one of the various inventory management software packages that are out there.
Though with a bit of excel knowledge, you could do it there as well.
Though it’s probably more work than worth it, unless you have hundreds of lines.
