You have a million things going on at once, right?
If you’re going to stay current on your Amazon sales accounting, you need a method that’s simple, fast and affordable.
How confident are you in your total Income, Selling Fees, Cost of Goods Sold and Ending Inventory figures?
Whether you do your own taxes or use a CPA, accurate figures are a must.
Can you use some help coming up with the numbers?
Seven Video Lessons With Excel Workbook Download
Unit 2 – Setting a Course
There’s a plan and we’ll work the plan. It’s a workbook, but don’t worry if you are not super Excel savvy. We’ll start slowly so nobody gets left behind. Yes, it works with Google Sheets too.
Unit 6 – Chasing Rabbits
We could just go get a cup of coffee and call it done, but some of us will want to verify one more thing. Amazon pays the way Amazon pays and we have to deal with that. So in this unit we will show how to reconcile our bank deposits with the total monthly report summary from Amazon. Sounds fun, huh?
|Module 1||Simplified Sales Accounting for Amazon Sellers|
|Unit 1||Introduction - Relax, it is not as bad as it looks.|
|Unit 2||Setting A Course - How do we use the workbook?|
|Unit 3||Sales, Selling Fees, Sales Tax Totals - Where do we find the amounts?|
|Unit 4||Cost of Goods Sold - Where do we get this amount?|
|Unit 5||Cost of Goods Sold - How do we calculate amount and pull reports?|
|Unit 6||Chasing Rabbits - Why don't my bank deposits match Amazon's report?|
|Unit 7||1099-K - Why did we get it and what do we do with it?|
I’d like to take a minute to introduce myself.
My name is Vicki McCay. I’m a wife and homeschooling mother, who has an Amazon FBA business and does accounting for other local small businesses. With many years in automotive (double-entry) accounting under my belt, QuickBooks was a logical solution when we started a 401(c)3 mission organization almost twenty years ago. Learning it was hard, but with perseverance and the experience in the car business, I succeeded in setting up the accounting system for the non-profit.
Then a couple years ago, I started investigating options for what we’d do when my husband retired. We’ll be debt free, except for living expenses – utilities and food. We won’t need much, but we will need some. So, one day I stumbled upon Amazon FBA. It intrigued me because I liked the fact that it was something I could do without being tied to the house or inventory. We want to be able to travel on the spur of the moment, you know.
So, I bought some courses and set sail on a great adventure.
Uh,oh…storms ahead. Amazon is an animal that didn’t play well with my accounting system. There had to be some adjustments. Rest assured, I preserved until I found the solution to posting invoices, payment statements and tracking inventory, along with sales tax payable. I won’t lie, the mechanics were hard to workout. I spent many long, sleepless nights in anguish. I thought there was no solution and I would be required to get some outside vendors to do all of it. Slowly, the fog cleared. Falling back on my automotive accounting years, I was able to create a process and a posting worksheet that was the solution to the payment statement issues. Then I came up with a process of posting mass invoices. That sealed the deal, QuickBooks is the way to go for me.
However, some folks don’t love accounting as much as I do! I had many clients year after year coming to me in desperation. They’d put off their bookkeeping for months because they didn’t have the skills or time to complete it. There had to be a way to help them even if they didn’t want to use QuickBooks. That’s how this course came about.
Important: Information in this document does not constitute tax or legal advice and must not be used as such. If you have tax or legal questions, please contact your professional adviser. This course is simply to demonstrate how to use the accounting software.