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Amazon Reports ??????????

Amazon Reports ??????????

Didn't find your answer?

Is there a person on the planet that understands Amazon reports, including FBA?

Like total sales, expenses, output tax, input tax, and a figure that will appear on the bank statement?

Client sent several reports with tenuous tie up.

A link to a plain English explanation is hopefully all I need.

Thanks in anticipation.

Replies (11)

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By sash100
03rd Jun 2019 21:39

Yes is confusing and I think clients send the wrong reports.

They should send the Amazon VAT Transactions Report but it would be great if Amazon provided a summary for the period.

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By johnt27
04th Jun 2019 11:26

Agreed! Amazon reports are pretty horrendous.

As more of my clients move to the cloud I tend to remove this headache by using apps to summarise Amazon sales and pull into the accounts.

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By sash100
04th Jun 2019 12:16

Which apps do you use ?

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By johnt27
04th Jun 2019 12:35

It depends!

But main two are Unleashed and A2X, although I do have some misgivings as to whether or not the latter is MTD compliant but I've yet to grapple with the complexities (read putting head in sand...)

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By Gone Sailing
04th Jun 2019 13:08

Are you not using apps to push the numbers into QBO, Xero etc, for the MTD?

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Replying to Gone Sailing:
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By johnt27
04th Jun 2019 13:39

Maybe I didn't explain properly!

I am using the apps to push transactions into Xero, mainly. However, A2X only does this on a monthly summary basis, to limit the volume of transactions passing through the API and also to avoid you coming up against transaction volume buffers in both Xero/QBO.

With Unleashed you can choose to have either individual transactions or a summary, but it's limited to a number of shops (5 I think).

My issue with MTD is that unless you are a retailer you aren't permitted to use summarised data in your accounting records. As explained earlier I haven't explored any further.

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By Gone Sailing
04th Jun 2019 14:35

johnt27 wrote:

My issue with MTD is that unless you are a retailer you aren't permitted to use summarised data in your accounting records. As explained earlier I haven't explored any further.

Speaking as an MTD 'latest possible minute adopter', why would HMRC not consider a detailed transaction Amazon report part of the accounting record?

I dare say Aweb contibutors have already had a swipe at this one.

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Replying to Gone Sailing:
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By johnt27
04th Jun 2019 15:06

I'm reasonably relaxed about it - there's a soft landing period until next year by which time I'll have done my homework properly!

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By atleastisoundknowledgable...
13th Jun 2019 17:53

But aren’t Amazon traders retailers?

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By Gone Sailing
07th Jun 2019 16:26

So, Amazon hold some money back, explaining, "Unavailable Balance on your Payments Report. The Unavailable Balance is the amount of money that is reserved to ensure that you have enough funds to fulfil any claims or chargebacks"

On a transactions report there appears "Current Reserve Amount" and "Previous Reserve Amount Balance " which one might infer is the unavailable balance. Except that for a month these total to the same amount, whereas shouldn't the reserve be a 'moving feast', ie why is the current the same as the previous?

If an Amazon Debtor account is set up as a current asset (not AR), and into it were posted gross sales (DR) / charges (CR), then posted the bank transfers (CR) / shouldn't the balance check to the 'reserve amount / unavailable balance', just as a traditional external check, or is that wishful thinking?

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By Gone Sailing
03rd Jul 2019 19:27

And another thing .....

Amazon FBA sales invoices to the seller, are on Amazon letterhead (VAT number an' all) but are billed/addressed to the end customer.

This invoice is what the seller is supposed to hold as evidence of purchase, the seller's name is nowhere to be seen.

And what the long term legal effect of Amazon doing the invoicing instead of the real seller is anybody's guess.

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