“Ecommerce businesses are really data businesses."
- Cyndi Thomason, CEO of bookskeep.
Most ecommerce sellers don’t go into business for accounting.
But to run a profitable, healthy business, it’s crucial to understand your numbers.
And for ecommerce, there are a few key definitions and systems that you need to know in order to give yourself the best chance at success.
Regardless of whether you are a seller or an ecommerce accountant needing an overview, this is the place to start.
Helping ecommerce clients today reach their full potential involves a lot of the right technology.
Smart automation combined with your skills and expertise is the name of the game now, and in this post, we’ll be exploring how our accounting partners have used A2X to streamline their clients’ ecommerce accounting.
Alongside their talent and hard work, some of our accounting partners have credited A2X with their success, scalability, and even their business models.
Just about anyone can start selling online, but not everyone will be successful.
Those success stories are founded on talent, creativity, and passion - but they also depend on excellent management of the money that drives them.
Cash flow is like blood flow. It powers every organ of your business and if it’s not nurtured, maintained, and regularly vetted, it can cause serious, compounding issues.
In the first part of our Shopify accounting hub series, we looked at the 8 setup steps to help you set the scene for your new venture.
This article is based on a guest post from our good friends at MuseMinded.
The blog is the final in our ecommerce sales tax series, as part of the A2X ecommerce accounting hub.
If you’ve been with us from the beginning, you’ll have covered an overview of what sales tax is, why and how it affects ecommerce sellers today, and strategies to deal with sales tax compliance. Next up, we discuss your options for filing.
Automating the accounting side of your ecommerce business is a smart step.
Not only are you ensuring accuracy and consistency over the lifeblood of your business, but you are gifting yourself the time to invest your resources elsewhere.
When you integrate Shopify with QuickBooks, your store transactions are uploaded and stored automatically. When you add A2X into the mix, the details within these transactions are captured and displayed for you, ensuring that you have all the information you need, as an ecommerce seller, about your financial activity.
eBay sellers generally need to pay most attention to the following taxes depending on their location:
Sales tax (for the US) VAT or GST (for countries outside the US like the UK & Europe) For more detailed information on these, select the guides linked above. Here, we’ll cover some of the frequently asked questions about eBay taxes across the board.
It might be worth bookmarking this page for quick and easy reference later on!
Understanding what Amazon seller fees you can expect to pay on the platform is crucial to your bottom line.
If you’re paying more in fees than you’re making in profit, you have a problem.
You also need to be able to interpret your settlement statementsto figure out exactly what charges you have paid and why, so that you can plan to minimize them as much as possible.
There are numerous Amazon marketplace fees; some apply to all sellers and some unique to those using Fulfilment by Amazon (FBA).
Accountants might be comfortable with P&Ls and balance sheets, but not all ecommerce sellers are.
When it comes to a quick reference point on the health of their business, sellers often look at their bank accounts.
With bank transactions being almost instant nowadays, nowhere else offers them the same real-time viewpoint as those balances. Simple, quick, and easy.
But as we know, simple, quick and easy can often lead to poor quality.
Automation is all about working smarter.
It allows you to hand the repetitive tasks of your business, that demand accuracy and consistency, to software designed to handle this. As a result, you have more time to up-skill, learn and grow your business.
If you are here, you have probably figured that much out already. Using Xero for Shopify brings you as a seller a host of great benefits and functionality options, so here, we will explore what these are and how to get started.
This guide is part of our Ecommerce Accounting Hub, fundamentals series. If you’ve been with us since the beginning, you’ll know how complex managing ecommerce accounts can be.
And then there are the added layers of sales tax, inventory, and merging multiple channels to consider, all of which directly impact your books.
To make sellers’ lives easier, we have a directory of our trusted accounting partnersbased all over the world, so that you can find the expert, professional help you need.
FBA sellers stand to make good money if they know what they’re doing.
Around 20%typically make between $1000-$5000/month, with around 10% making up to $50,000/month. The sky’s the limit, but the foundation must be robust first.
And there’s plenty that can go wrong easily, especially in the early days.
This blog is inspired by a previous guest post by our friends at Bean Ninjas, and this videoby Catching Cloudsco-founder Patti Scharf.
Automating some parts of your business can majorly simplify the way it operates.
You can save time and money by streamlining processes, increasing the efficiency of your business, and leaving less room for error. Sounds like a recipe for success - what’s not to like?
Accounting must be done accurately in order for a business to thrive, so it makes sense to automate this part of your operations. When it comes to bookkeeping for eBay sellers, Xero is a versatile tool that can automatically generate, record and display the data you need to make important financial decisions.
Wondering whether now is the right time to sell your business? Use our free assessment tool to figure out how to get the best value and whether you need to do more now to get more later. Download it free here.
“Ideally, an entrepreneur will develop an exit strategy in their initial business planbefore actually going into business.”
Investopedia. Are you feeling validated by that quote or a little panicky?
We want to make life easy for ecommerce sellers when it comes to their accounting. Download your own free ecommerce bookkeeping checklistso that you know what regular tasks you should be completing to run a resilient, profitable business.
The way you record your inventory impacts everything else in your business.
Your profits, your taxes, and the value of your business to name a few.
But there isn’t just one way to do it.
This article was written by our friends at Airwallex. Check out www.airwallex.comto find out more about how their international banking services can help your ecommerce business to thrive.
So you’ve launched your ecommerce store and the orders are coming in.
It’s a great feeling.
But you’re keen to really expand. And selling overseas might be the best way to do it. Breaking into a new market is a great way for business owners to explore their untapped growth potential.
Never miss a beat in your ecommerce accounting with our free downloadable checklist. Everything you should be doing on a regular basis to ensure your ecommerce books and business thrive, ready to go.
“Inefficient processes (44%) are [one of] the biggest causes of wasted time within an organization.”
Planview’s Powering Productivity Study. Are you one of the many people wasting almost a third of your work day battling with inefficient processes?
Are you pulling your hair out trying to manage your business and your family?
Cyndi Thomason knows the feeling well. In fact, she’s written a book about it.
Find out what inspired her below and some of the nuggets of wisdom to be found within the pages.
Motherhood, apple pie, and all that happy horsesh*t At the launch party for my new book, Motherhood, Apple Pie and All That Happy Horseshit, a mom entrepreneur talked about the importance of having good financial data to manage your business.
We recently released our ecommerce bookkeeping checklist to help sellers and their accountants make sure their accounting process takes care of all the important stuff. Download it for free todayand never miss a step again.
“[Accounting] should be a top priority for your business. It will improve efficiency, maximize revenue, prevent fraud, [and help you] avoid tax-related penalties.”
Amy Crooymans, A2X. In a recent webinar, one of our A2X experts, Amy Crooymans, discussed three of the most common accounting mistakes made by ecommerce sellers.
Want to feel totally confident in your bookkeeping? Our Essential Ecommerce Bookkeeping Checklist is your roadmap to bookkeeping success.Download it for freeto enjoy tidy, reliable accounts from now on.
*“If you want to make business decisions you need to understand your KPIs. Your margin is the most important one. It allows you to understand whether your products are making money.” *
Lior Zehtser, Co-founder, ConnectCPA. Margins help you figure out whether your business is profitable.
“Don’t ever let your business get ahead of the financials. Accounting, accounting, accounting. Know your numbers.”
Tilman J. Fertitta, Chairman and CEO, Landry’s Inc. It’s almost impossible to succeed without a good handle on your numbers, especially in ecommerce.
32% of ecommerce startupsfail because they run out of cash, 29% fail because of cost and pricing issues, and others fail because they try to scale too quickly.
That’s how many visitors Amazon.com recorded in February 2022.
And they’re not just window shopping, either.
According to a Feedvisor survey, 89% of buyers agree that they are more likely to purchase from Amazon than other ecommerce sites.
It’s easy to see why so many sellers set up shop there. But how do they know best products to sell on Amazon FBA?
Find out with this guide.
“We will reject interesting opportunities rather than over-leverage our balance sheet.”
Warren Buffet. Balance sheets are one of the three key financial statements of a company.
Without one, you could misunderstand your current financial situation and hurtle towards bankruptcy. All because your assets, liabilities, and equity are out of balance.
The good news is that balance sheets are not too difficult to understand or prepare.
We’re going to show you how to make one so you don’t have to turn down interesting business opportunities against Mr Buffett’s advice.
Save time, money, and stress with our free ecommerce bookkeeping checklist. A step-by-step process that you can follow daily, weekly, monthly, and yearly, to ensure you cover all the essentials for your business. Download here.
Every business should have a cash flow forecast.
Whether you’re an ecommerce seller, an investor, or the owner of a large company, a cash flow forecast enables you to extract important information about the financial health of your operations.
Once upon a time, ecommerce accounting was an online seller’s nightmare.
Then along came A2X.
Since its release, dozens of products have tried to mimic the way we simplify and streamline the ecommerce accounting process, yet A2X remains the gold standard worldwide.
In this article, we reveal the features that keep A2X ahead of the ecommerce accounting curve and break down how, by prioritizing accuracy and clarity, this app continues to warrant the trust of thousands of sellers across the globe.
Source: Bondi Sands.
Australian made, globally loved brand from Down Under, Bondi Sands, has seen something of a growth spurt this year.
With teams in Australia, the UK, US, and one just beginning to sprout in New Zealand, they’ve needed to change tack to keep up the pace. We sat down with Financial Controller Mark Parsons, based in their Aussie office, to find out the challenges faced by Bondi Sands during this growth and how they’ve overcome them.
People shop via ecommerce for just about anything, so the list of things you could sell online is practically endless.
Where do you start when it comes to finding products that will be popular for your Shopify store?
In this guide, we aren’t going to just provide you a list of promising ideas. Whilst we will cover what has been performing well, we want to help you ask the right questions and perform insightful research so that you can make the best decisions for your business in the long-term.
Any Tom, Dick or Sally can sell almost anythingon eBay. With 1.3 billion listingson the platform alone, competition is fierce, and knowing the best things to sell on eBay to make money has become an art in itself. To be a successful eBay seller in 2022, you should have a handle on where eBay has been, where it’s going, and how this translates to buyer behavior. Armed with this knowledge, you can make informed decisions about how you will stand out from the significant crowd this year, and reach your selling goals.
Have you ever stood in a store, about to buy a product, and then quickly checked online to see if it’s cheaper?
Yeah, you’re far from alone.
We live decidedly multichannel lives these days. As customers, we have choice.
It might be shopping through ecommerce sites, brick-and-mortar stores, social media, or market stalls. And we expect our favorite brands and products to be there waiting for us across a variety of mediums.
“If you’re in business, you’re in marketing. And if you’re in marketing, you need a sales funnel.”
Matt Ackerson, Autogrow. Don’t you just hate it when someone tries to hard-sell you, and you’ve never heard of them or their product before?
Perhaps you get annoyed when you’re bombarded with ads from a business online, one you’ve never interacted with, telling you to buy a product you know nothing about?
Ecommerce sellers have a huge range of costs they need to keep up with - fees are just one of them.
But on goliath platforms like Amazon and eBay, fees can themselves take on a variety of forms, and it’s not always clear exactly what you’ve paid and why.
That is, if you aren’t well-versed in how they work, or using the best tech to track them (psst… like A2X!
“Your brand is the single most important investment you can make in your business.”
Steve Forbes, Editor-in-Chief at Forbes magazine. It is estimated that there are somewhere between 12 and 24+ million ecommerce storesonline.
With no “passers-by” like you might have on the street, ecommerce sellers need to do a bit of extra work catching attention and building recognition.
And branding is a fundamental way to do that.
eBay is the second most popularshopping site in the world.
But Etsy has seen up to a 7000% year-on-year increasefor some of its categories.
When choosing between Etsy and eBay, it might feel like you’re picking between giants.
Well, you are.
The key to choosing your platform is to consider your product, your customers, and the goals you have for your business.
Etsy and eBay offer different opportunities - and the way you interact with them might determine just how much money you can make on each.
Applications are designed to level up your tech. They add to, elevate and expand on the tools you’re using, giving you the ability to customize how you run your business, and how customers engage with it. With apps for live chat, interactions, VR, AR, social media sharing, email marketing, accounting, and more, the potential is hugely exciting. But with over 3,000 appson Shopify’s app store, how do you choose which of these areas to invest in?
“Many a small thing has been made large by the right kind of advertising.”
Mark Twain. Digital advertising is a necessity for any Amazon seller trying to grow their business.
It’s how you position your products before your target audience, discover what they’re looking for, and convert them into customers.
And to make things simple for its sellers, Amazon has created its own advertising platform.
There are Etsy shops getting almost 50% more salesbecause of one simple differentiator.
According to an Etsy study, it’s due to offering buyers multiple payment options (compared to shops with just one payment method).
It turns out that ecommerce customers have certain expectationswhen it comes to buying online, and a lack of payment options is up there in the top 6 reasons people abandon carts.
Since 41% of shoppershave abandoned a transaction during checkout in the past year, it’s a good time to optimize your checkout experience to ensure you’re not losing sales.
Almost 90% of UK shoppersuse Amazon.
The platform has almost 300,000 sellersalready.
In 2020, its revenue rose 51%, accounting for 5.5% of the country’s retail turnover.
There’s huge demand and significant supply, but Amazon both in the UK and abroad shows no signs of slowing down or decreasing in size.
You might be wondering whether selling on Amazon UK is worth it.
Well, it seems not only was Amazon dominating long before we’d ever heard of “COVID-19”, but that the pandemic may have added fuel to its momentous fire.
Are you thinking about whether you should keep your accounting skills and spectrum broad, to attract as many clients as possible - or niche, to appeal to a more specialist crowd?
Well, Catching Clouds founders Scott and Patti Scharf are big fans of the niche.
The Early Days of Catching Clouds Catching Cloudswas founded by husband and wife duo Patti and Scott Scharf. Scott, a self-proclaimed IT geek, and Patti, a CPA, power user, and database writer.
Here at A2X, we’re always looking to make sellers’ lives as easy as possible when it comes to their accounting. Find out below how a new feature we have developed streamlines a tricky aspect of accounting for Shopify. As a Shopify seller, you might already know that the platform allows the issue of gift cards in two main ways:
Gift cards are sold to customers to use in the future, processed via checkout like any other order, and, Gift cards are issued manually as credit, perhaps for returned goods or as a goodwill gesture to help resolve a problem.
“Pushing a company agenda on social media is like throwing water balloons at a porcupine.”
Erik Qualman, author and motivational speaker. It’s no secret that social media is a powerful tool for businesses.
But its power lies in engaging with the right audience in the right way, which is not an easy thing to nail. Particularly when audience interests, needs, and expectations change.
Simply posting an ad or a product is not enough.
The top reason people shop on Amazon is for fast and free delivery (79.8%).
The third top is that they’re an Amazon Prime member (65.7%).
You might be wondering about competitive prices? That comes in fourth, at just 49.2%.
So you could be missing out on over half of Amazon’s customers by not taking advantage of its Prime program. The member base of which, by the way, sits at a cool 200 million people worldwide.
Many businesses start out with a mission and values.
But as they grow and acquire more people, systems, and operational changes, how do they keep that identity strong and authentic?
Browne Accountinghas managed it and here, they talk us through how.
Keeping Values at the Heart of Big Business Decisions Before Covid-19 made working from home not only necessary but more widely accepted, co-founders Cameron and Mallory Browne began their remote accounting firm, Browne Accounting, while living in Southeast Asia.
Are you keen to know how the experts choose which accounting apps they use?
Perhaps you have a few integrated already, and want to manage them better?
Check out how Financly’s team get the most out of their apps.
How To Achieve The Perfect App Stack Over the last seven years, sisters Connie and Teresa have built their very own virtual bookkeeping firm, Financly. With over 35 years of experience in the world of bookkeeping and accounting, they knew they wanted to begin their own journey.
“Amazon has transformed the small miracle of each delivery into an expectation of modern life.”
New York Times More than 50% of US shoppersturn to Amazon first when searching for new products.
80% of thoseare influenced by the lowest shipping prices, and 72% are looking for the fastest option.
You could also lose more than half of thosedue to shipping-related costs at checkout.
Amazon rewrote the rules on delivery and as a result, its shoppers have certain expectations.
As a Shopify seller, how much are you paying in fees?
Do you know? Did a number just pop into your head?
Or are you thinking… “It’s complicated…”
You’d be right about that. But if you don’t know the details about the fees you’re paying, you’re at risk of paying too much. And paying too much affects your bottom line.
We’re here to break it all down for you so you can better understand where your money is going, and whether there might be a cheaper option.
This is a guest post by our friends at HelloTax, specialists in VAT compliance and ecommerce tax automation. The introduction of the One-Stop Shop (OSS) initiative in July 2021brought about a number of changes affecting online sellers and their taxes in Europe. And not just sellers, either. Any active business owners or stakeholders on any of the online marketplaces are likely to be impacted by the changes.
New rates, recipients, and criteria for eligibility have been defined, so anyone with business interests in or around Europe needs to get up to date.
Consider this for a moment.
Facebook currently has 2.89 billion active users.
Out of those, 1.84 million peopleare daily visitors. And users spend an average of 38 minutes per dayon Facebook - and, they like it. The potential for a smart Shopify Facebook marketing strategy is huge. So don’t go anywhere. In this guide to Shopify marketing on Facebook:
Table of Contents Who Uses Facebook These Days? A Note About Marketing On Social Media The Options For Shopify And Facebook How To Connect Facebook And Shopify (Step-By-Step) How Facebook’s Algorithm Works Tips to Enhance Your Shopify Performance On Facebook Don’t Forget Your Accounts When Setting Up Shop… Also on the Blog Learn how to manage your Shopify accounting the right way
“Marketing is about values. It’s a complicated and noisy world, and we’re not going to get a chance to get people to remember much about us. No company is. So we have to be really clear about what we want them to know about us.”
Steve Jobs, ex-CEO and co-founder of Apple. As a Shopify store owner, you’ll no doubt know that marketing is important for your business.
Amazon.ca gets 15.9 million unique monthly visitorsfrom Canada alone.
In 2019, 30,000 Canada-based third-party sellersgrossed more than $1 billion on Amazon.ca, reflecting a 40% year-over-year growth.
In short, the time is now to start selling on Amazon.ca.
This guide will tell you everything you need to know to become a successful seller on this enormous platform.
We’ll cover how to sell on Amazon Canada, break down the latest trends and data around Canadian online buyers, and even dive into the nitty-gritty details around fees, accounting, and more.
Source: Two Dudes.
How do you surprise and delight your customers?
What is that elusive 5-star experience, and can it be topped?
This is the story of two friends who started a business to challenge not just conceptions and social stigma, but what it means to give a truly memorable customer experience.
One that turns buyers into ambassadors, and keeps them coming back for more.
Meet: Michael and Tomas from Two Dudes.
This article is a summary of a video interview conducted for the Ecommerce Back Office Facebook group. This group is a community of ecommerce business owners, sellers, accountants, and anyone else involved or interested in selling online.
It is always open to new members, and there you’ll find interviews like this one, discussions, polls, and new connections across the world. Check it out here.
In this piece, Bean NinjasDirector and ecommerce accounting specialist, Tracey Newman will be sharing a range of wisdom and insights when it comes to international expansion for ecommerce businesses.
It’s me, technology. It seems that there’s been some misunderstanding. I did some research and accountants are among some of the top professions that regard me as hugely valuable, and full of potential. And yet, a third of youfeel threatened by me. I think that’s a shame. I’m here to elevate your skills and training, not displace them. Allow me to explain. I’ve been there with you since the beginning, I just look a little different Technology and accounting have gone hand-in-hand since the Mesopotamian abacus, around 2700-2300BC- perhaps even earlier.
Have you got a few minutes to spare? About three, to be exact. There could be one of five $100 Amazon vouchers in it for you…
What’s all this about? We want to better understand the challenges of ecommerce sales tax audits for business owners. So, together with our friends at TaxValet, we have created a survey to collect data on the experiences of people with sales tax audits from across the US.
This article is a summary of a video interview conducted for the Ecommerce Back Office Facebook group. This group is a community of ecommerce business owners, sellers, accountants, and anyone else involved or interested in selling online. It is always open to new members, and there you’ll find interviews like this one, discussions, polls, and new connections across the world. Check it out here.
In this article, StockTrim co-founder Dominic Sutton reveals the most valuable lessons he’s learned about inventory forecasting during his career, why it’s essential to get it right, and how ecommerce businesses can make the most of accurate forecasting systems.
This article is a summary of a video interview conducted for the Ecommerce Back Office Facebook group. This group is a community of ecommerce business owners, sellers, accountants, and anyone else involved or interested in selling online. It is always open to new members, and there you’ll find interviews like this one, discussions, polls, and new connections across the world. Check it out here.
In this blog, our Marketing Manager here at A2X, Denym Bird, spills the beans on what he’s learned about marketing online over the years.
“Research shows that most businesses fail in the first five years…
Many of those businesses are generating tons of revenue and sales, but without the math on customer acquisition, the costs eventually bring them to their knees.”
Neil Patel, digital marketing expert. Advertising for Shopify sellers is crucial.
You don’t have a physical shopfront or existing traffic to rely on.
But spending money on ads could sink your business before it has a chance to find its feet - and that seems pretty counterproductive.
Ecommerce sellers don’t have the advantage of meeting their customers.
They can’t count footfall or measure reactions. They can’t see what a customer browses and what they walk past.
Analytics are a lens on your Shopify store. You can learn about behavior, interaction, visitor numbers, and so much more - if you only know where to look. And crucially, what to do once you have. Google Analytics is one of the best tools out there to help you.
There are a billion peopleon Instagram. That’s about one eighth of the world’s population. If you’re interested in tapping into Instagram’s huge potential with its Shopify app integration, you’ve landed in the right place. We’re here to help you set up your feed, build your strategy, and leverage this powerhouse app.
This guide will talk you through why you should connect Shopify and Instagram, how to actually do it, how to use Instagram in today’s world and how to maximize it as a sales channel.
If you’re an Etsy seller concerned about whether you should be collecting sales tax yet, or how to remit it, then this guide is for you.
Sales tax can get confusing.
Not only does every US state have its own criteria for when to pay but rates, rules, and filing frequencies differ too.
But you’re not in it alone.
There are plenty of ways you can successfully handle your sales tax that shouldn’t sink your business.
The rapid expansion of ecommerce has had a similar impact on the fulfillment sector.
By 2027, global ecommerce fulfillment is expected to be worth $113.6 billion. According to Etsy, you’re far from alone if you’re worried about shipping:
“It’s normal to feel a little anxiety around the delivery and handling process – in fact, it’s one of the most common concerns new sellers have.”
Etsy. Consumers want fast, free and sustainable shipping today.
“Around the world, businesses are prioritizing fulfillment to fight rising costs and meet consumer expectations.”
Shopify Future of Ecommerce Report, 2021 Shopify shipping is essential to get right, now more than ever. Nailing your shipping strategies will directly affect how many products you sell, how many customers keep coming back, and how much money your business makes annually.
There are no two ways around it.
Amazon is competitive.
It gains a new seller every minute, and with that kind of competition, you need to provide excellent service every time - and shout about it.
Positive reviews are a huge driving force for great performance on Amazon. Your Amazon feedback rating impacts how visible you are in search results, and whether people will try you out.
But it’s far from simple to build and maintain great feedback on Amazon.
We have an exciting announcement here at A2X.
Ecommerce is a diverse, thriving, and rich business to be in right now. But it takes a huge amount of dedication and learning - no matter your starting point. Not only do sellers need to pick the right products to sell on the right platform, at the right time, and to the right customers, but they need to manage their fulfillment, their taxes, and their accounts properly.
“Immediacy, convenience, and speed are top consumer demands. This is the new normal.”
Shopify’s Future of Ecommerce Report, 2021. More than 70% of consumersindicate convenience and free shipping are their top reasons to shop online. With such a large majority of your customers depending on you for these things, your Shopify fulfillment method has to be top-notch. If it’s not, you could be losing out on a huge chunk of your audience.
Just about everything is taxed.
And as you’ll no doubt be aware, it’s not all the same kind of tax.
Tax has become a strange, disconnected sort of extended family tree. Your income tax branch includes members like capital gains, estate, payroll, and inheritance tax. Then there’s the awkward, money-hungry branch of property, real estate, and gift taxes. And these barely scrape the surface. Here, we’ll be talking about the exotic foreign cousin of the goods and services tax family.
If you’re interested in earning commission through Amazon affiliate links, then this guide is for you.
81% of brandsnow rely on affiliate marketing to promote their business.
And 40% of US merchantsreport that affiliate programs are their top customer acquisition channel.
So where better to begin (or continue) your affiliate marketing journey than with the ecommerce monolith that is Amazon.com.
But you have to be approved to do it, and there is more than one way to get paid to send people to Amazon.
Are you an ecommerce seller (or accountant) running more than one sales channel and A2X account? Or perhaps you’re considering expanding and will need to do this soon?
A2X offers multi-channel plans so that you can integrate and manage your accounts seamlessly across your business. This guide will take you through your plan options and how to set this up. Table of Contents A2X Multi-Channel Plans How to Connect Your A2X Accounts with a Multi Plan For any ecommerce seller on multiple platforms For premium Amazon and Shopify sellers using the same platform Accounting for Multiple Channels A2X Multi-Channel Plans The plan levels are based on your combined sales volume per month.
Pinterest is the digitized version of the corkboard above your desk.
It’s that vision board that holds all the ideas and inspiration you want to save for later. Today, that often involves wishlist products, and as such, Pinterest has become a marketing tool for ecommerce sellers.
Forget judging a book by its cover. In 2021, people are judging books by their pins.
So let us share with you a template for getting your Shopify store on Pinterest, and everything you need to know about rich pins, buyable pins for Shopify, how to use Pinterest for business in 2021, and how you can sell on Shopify and Pinterest without a website.
So you’ve got an Etsy store, and it’s doing ok - maybe even well, but you’re keen to grow? Great, you’re in the right place.
There are plenty of ways to make your store bigger and better, and not all of them cost you money. That’s what this blog is about: our top Etsy tips, both free and paid, for improving your business and taking it to the next level.
Amazon gets around 200 million unique visitorsevery month.
Amazon Handmade gives crafty sellers and makers the chance to get their original products in front of this same audience, and it comes at a slightly different price.
This article will explain all you need to know about Amazon Handmade fees, other requirements for selling on Amazon Handmade, and how to simplify the fee process.
In this blog about Amazon Handmade fees:
Calculating your eBay fees ahead of time makes good business sense.
After all, as a cost to your business, you want to make sure you aren’t spending a cent more than you have to.
In this blog, we’ll take you through the eBay fee structure and where to find more information, along with the best eBay fee calculators on the internet so that you can plan with confidence.
In this article on eBay fee calculators:
Unlike other marketplace facilitators, Etsy has a niche.
And the success of the top-selling products on Etsy may have just as much to do with the sellers and how they operate as what the items are themselves.
Best-selling items change all the time. So instead of giving you a fish, we are going to teach you to fish.
This guide will explore who sells on Etsy, who buys on Etsy and why this should dictate your strategy.
Etsy is the home of the makers, the doers, the dreamers, and the creators.
Original, vintage, and hand-made products are Etsy’s trade. So naturally, it attracts crafty sellers wanting to share their talents and skills.
But Etsy is an ecommerce platform first and foremost - one with a trade value of $2 billionon the NYSE.
Selling on Etsy successfully takes more than simply signing up and listing a product. The top sellers understand their place and that of their customers in the bigger picture.
This is a guest post from our friends at MerchantSpring, a tool for managing your ecommerce business.
Whether you run a small start-up or a major enterprise, there’s no question that your online presence is a crucial investment for your business.
The trick is knowing where to spend your money for the best results with the greatest return. In this blog, we’ll be looking at the expected and unexpected costs that come with ecommerce.
“Sellers control the most important factors in Etsy search placement.”
Etsy. Etsy SEO is worth your time. Still one of the top digital marketing strategiesfor the greatest return, SEO for Etsy can be broken down into a few key areas for relatively straightforward application.
The only challenging thing about SEO is that it’s a journey, not a destination. You’re never really done with SEO, whether on Etsy or elsewhere.
What do a pair of snowboarding, outdoor enthusiasts, and an urban apartment-dwelling creative have in common?
All were entrepreneurial founders of two of the most popular and successful ecommerce businesses in the world to date: Shopify and Etsy.
They built the tools to enable imaginative sellers like you to bring your products to the world.
But which is right for your business?
If you sell craft, handmade or vintage items (which meets Etsy’s criteria), and you’re unsure whether to kick off with Etsy marketplace or go solo with Shopify, this guide is for you.
Every year, around a million new sellersjoin Amazon.
With around 4,000 itemsselling on the platform every minute, there’s no shortage of buyers for that hefty seller base. But a competitive edge is everything, and it makes good financial sense to start with the freebies.
Search Engine Optimization is free.
You might already associate SEO with blogs or websites, but it’s just as important for ecommerce platforms. Optimizing your listings for search engines is an effective way to get people from Google to your Amazon store.
If you’re looking to turn a nice profit in the ever-expanding realm of ecommerce, or to expand your business, eBay could be a great option for you.
You can be up and running in minutes and don’t need to be a registered business yet - perfect for a seller dipping their toes into ecommerce.
But access to almost 200 million active buyersdoesn’t come free. And listing fees are just the beginning.
Today, there are around 187 million active buyerson eBay.
Getting access to that kind of traffic comes at a price, and that price is eBay seller fees.
But seller fees on eBay, like with many of the ecommerce platforms, aren’t always straightforward.
Sure you’ve got your standard listing fee, but there are circumstantial fees that come into play only in certain scenarios, and those are what sellers need to get their heads around.
Integrating eBay with cloud accounting software is a great way to save you time, make sure nothing is missed in your bookkeeping, and give you access to financial information anytime, anywhere.
Sage is a fantastic option for any eBay seller, with plans that can grow with you and an internationally-acclaimed reputation.
But whilst integrating eBay and Sage is a smart first step, it won’t get you the optimal accounting stack for ecommerce - that’s the same for any other platform and accounting software provider, too.
Selling on multiple sales channels should mean more sales, not more admin.
Here’s what A2X, the leading ecommerce accounting software, can do for your business. What’s Challenging About Ecommerce Accounting? Ecommerce is not like brick-and-mortar, where the majority of transactions occur directly through the bank.
With ecommerce, transactions are occurring through the sales channel and businesses receive lump deposits net of fees. When you start selling on multiple sales channels, these difficulties compound.
This is a guest post from our friends at Bookkeeper360, experts in tech-driven accounting solutions for business owners that want more time back to focus on their business.
When you boil down financial reporting, you find two vital elements for your business—accuracy and speed.
If you’re an owner or financial professional at an ecommerce organization, financial accuracy is a well-understood aspect of your business. That said, speed is just as important.
For Amazon sellers, Seller Central is mission control.
Everything you need to run your business is there in one centralized location, but some aspects have greater tools and resources available to help you than others.
That’s what we’re going to explore here.
In this blog, we’ll take you through the elements of your Amazon Seller Central account and how you can use them to your advantage. Plus, we’ll mention what you get with different subscription plans and where to go for more information.
Anyone who runs an online store will know that the beauty of ecommerce is its capabilities are limitless.
It’s a fantastic way for retail stores of any type and size to reach a new community of customers – enabling you to expand your sales worldwide without the extensive costs of setting up a brick-and-mortar store.
Ecommerce has leveled the playing field, making it possible for small businesses to compete with corporate giants on an international stage.
Today’s consumers are all about instant gratification, and that certainly translates to online shopping orders.
In fact, 80% of shopperswant a same-day delivery option, 56% of 18-34 year olds expect it, and around 61% are prepared to pay more for it.
Enter: Amazon FBA.
With a reputation for innovation and hitting the nail on the head when it comes to solving customer pain points in a timely (and perhaps even anticipatory) manner, Amazon delivers yet again.
On 26th May 2021, we took part in a webinar with Insightful Accountantto discuss how ecommerce sellers need different kinds of accounting support based on their selling platform. We explored what’s changed and still changing, the key accounting challenges for each type of seller, and trends emerging within the industry. Armed with these insights, ecommerce accountants can anticipate the changing needs of their clients this year and better serve them in their journeys.
As a financial hub to help you record, crunch and analyze your sales, Xero is a great software option for Amazon sellers.
Designed to grow with you, whatever size or stage you may be at in your business journey, Xero has your accounting covered.
But whilst automating the transfer of your financial data from Amazon to Xero is a core step, it’s not the end of the road. You still need to manually reconcile tens, hundreds - even thousands of orders as you grow, and that’s not sustainable.
As an Etsy seller, creativity comes naturally to you. But if coming up with a good Etsy shop name has thrown you off your game, you wouldn’t be the first. Equally problematic is if you’ve already come up with your preferred store name, but tragedy strikes, and your name has been used by another Etsy shop.
Not knowing where to begin is expected, but we’ve got you covered.
Instead of heading back to the drawing board without a lick of inspiration, use this guide to ignite your creativity.
In 1981, David Goldman wanted to streamline the accounting process for his own business.
With few accounting automation options available at the time, he decided the best way to do this was to create a platform of his own.
Thus, Sage was born.
40 years later, Sage is now one of the largest tech companies in the UK. A brand defined by its premier resource planning software, and a charitable side to boot.
As connector apps, A2X and Bold are important parts of optimized ecommerce accounting automation.
These apps ensure that your Shopify data is calculated accurately and organized. But the way they each do this and the resulting outcomes are quite different.
One of them has a few additional features to offer - features that can transform the way you do business. And you might be surprised to hear that switching is not only easy, but books can be backdated, so it’s almost like the migration never took place at all.
So you’re thinking about joining the Etsy family? Exciting!
Etsy is the platform for creatives, where imagination comes to life and buyers love personal touches. It’s all about the hand-made, human feel, but it does need to start with some techy steps first. Setting up your Etsy seller account is very easy, and this article will show you exactly how (as well as the crucial next step). In this article on how to set up an Etsy seller account:
Are you considering turning your hobby into a business using the Etsy marketplace?
Well, you’ll be joining a platform that gets around 81.9 million buyersthese days looking for handmade goods just like yours.
Before you dive in though, we invite you to lower the tools for a moment and funnel that creative flow into a top-notch Etsy business plan. It’s crucial to understand exactly what your business does, its identity and how it’s going to function so that when it comes to making costly decisions, you have a road map to guide you.
Automation is the process of letting the technology we’ve created do the leg work for us.
Machines can do so much that we don’t need to do ourselves, and often better than us. By automating those tasks, we get to preserve our time for the things human beings can add value to with experience, intuition, and nuance—the strategy part of the business.
But like most things today, the options of technology out there can be a little overwhelming.
Having apps that automate parts of your to-do list is great, but if they don’t talk to each other, you still need to mediate.
With the plethora of app options out there today, developers have already solved this problem for us and continually update and upgrade the way our tech solutions communicate. We have become masters of automation, and Etsy sellers are just as much invited to the party as any other seller.
Confused by Amazon fees? We don’t blame you.
Amazon has rather a few to get your head around- subscription and listing fees are only the beginning. But it’s crucial for your bottom line that you understand which apply to you and why.
In this article, we’ll be exploring referral fees, specifically: What they are, how much they are and how to stay on top of them.
In this guide on Amazon’s referral fees:
Based on a collection of studies, around 70% of customerswill leave a site even after adding an item to their shopping cart.
There are numerous reasons for this, but a common one is a complicated or drawn-out checkout process.
Integrated payment solutions are one answer that ecommerce platforms have come up with. Shoppers save their details once so that purchase journeys simply consist of a Buy It Now button.
So you’re ready to sell on eBay, but you want to make sure you do it right - and actually make a profit? Strap in! eBay gives everyone from merchants to ecommerce hobbyists an easy-to-use platform to make sales, but it’s not without competition. With almost 200 million buyers and 1.6 billion listings, sellers need to maintain a competitive edge in order to succeed. We’ve been busy looking closely at eBay, and we’ve written a number of guides and articles on how to use the platform successfully.
Time is one thing you can’t buy and if you’re an Etsy seller, it’s probably safe to assume that you already need as much of it as possible to create.
Bookkeeping is fundamental to the survival and growth of your business, so it needs your attention and your investment. Fortunately, neither of those things need to be significant - not with the technology that allows you to work smarter, not harder.
The theme of your Shopify store dictates almost everything.
What your customers see, how they interact with your brand, what media and add-ons you can include - the list goes on.
It’s important to think about what you’ll need from your theme before you go diving in and get carried away by the cool color palettes and exciting plug-ins.
Plus, with a little planning, you’ll be able to see whether a freebie will cover your bases or if a paid option is worth your time and money.
Etsy is for the makers and creators.
If you’re an Etsy seller, it’s probably safe to assume that you didn’t open a store wanting to focus all your time on managing its accounting.
As you’ll no doubt be aware, your bookkeeping has to be a priority. Fortunately, there are some excellent software options, apps, and integrations out there all designed to make your life as easy as possible.
And if you’ve already signed up to QuickBooks, you’re halfway there.
If you’re an Etsy seller, you’re likely driven by creativity and probably didn’t get into business to manage bookkeeping.
Accounting might not be in your comfort zone, but even if it is, there are quicker and more accurate options for managing it besides manually inputting data.
This way, you can get back to what you do best: Making.
Apps and integrations are beautiful things, but you need to understand how they work with, and optimize, one another to get the best out of them.
Not all eBay sellers have the same goals when they sign up to the platform.
When eBay started back in 1995, it was primarily an auction site used for selling the odd pre-loved item from around the house - a sort of online garage sale. As ecommerce grew and more sellers flocked to run full-fledged businesses on eBay, the platform needed to change tack. These sellers required a backend that would give them the visibility, reporting tools and resources necessary to run their business.
In the mid-1990s at the dawn of ecommerce, online sales weren’t worth enough to garner the attention of tax authorities.
Sales tax was something paid by businesses with a fixed, physical address, and back then, most had that. This isn’t the case today.
Since Shopify’s inception in 2004, US ecommerce sales revenue has skyrocketed from $75 billionto $787.9 billionin 2020. In the last decade alone, the industry has multiplied itself almost five times over.
This is a guest post from our friends at specialist ecommerce accounting firm Bean Ninjas.
When you’re first starting out, you might be tempted to do your own bookkeeping and accounting.
However, as your business grows, it is rarely a good idea to keep DIY’ing it. Every minute that you are spending on bookkeeping is time you aren’t spending on growing or running your business.
If this resonates with you, then read on to learn how to hire and vet the right bookkeeper for your FBA business.
There’s money to be made on eBay.
In 2020, eBay sales revenue grew 22%- and that’s not the only thing that grew.
With more sellers joining eBay every day and approximately seven million in the USalone, competition is rife. Growing on the platform takes work.
But that’s why you’re here - to find out what your options are and how to leverage every available tool at your disposal. And we are here to serve.
To all the makers, designers and craftspeople out there, get ready to spend less time on your accounts and more time creating. Today, we are excited to announce the launch of A2X for Etsy. Etsy sellers will now be able to integrate A2X with their stores and accounting software for accurate, seamless accounting. Etsy: “Keep Commerce Human” A niche marketplace dedicated to all things handmade and original, it is Etsy’s mission to keep people at the heart of ecommerce.
There are thousands of ecommerce apps and integrations on the market today all trying to solve problems for sellers.
Whether it’s accounting, fulfilment, customer management, marketing or tax compliance, business owners are able to design a tech stack that perfectly services their unique needs and goals, and removes much of the requirement for human input. As much as a customized infrastructure is an incredible resource, having numerous separate apps poses a tricky challenge: How do you get them talking to each other?
This year, eBay will be 26 years old. A lot has happened in 26 years. With technological advances taking trillions of dollarsoff the streets and into the digital space, ecommerce has exploded. And going into 2021 with the COVID-19 pandemic keeping us indoors, the ability to buy online has never been more essential.
With a wealth of tools now available to beginners, it’s difficult to know where to start and how to get the best out of the eBay platform.
Most Amazon sellers bring in around $1000-5000/monthin revenue, with around 6% making upwards of $250,000.
Even after the costs and fees hidden behind those figures, that’s some substantial income.
“Income” doesn’t just mean “salary”. A one-off garage sale worth $200 is technically income. It is simply money received, usually in exchange for goods and/or services. Selling on Amazon very much qualifies as an income source.
For this reason, Amazon sellers could be liable to pay tax on their Amazon income.
Time is money, and when you’re a one-(wo)man band running your own eBay store, you need to take control over both as early in the game as possible. This is where eBay automation comes in.
Humans are typically not good at lots of complicated, repetitive tasks - but software is designed for it. Best of all, it’s designed to handle these tasks at high volumes, scaling with you on your journey.
The internet is full of helpful eBay tips for sellers, so in this guide, we bring the best of them together in one place. Our eBay selling tips range from general dos and don’ts, to the nitty gritty details for the most ambitious, dedicated seller. Here’s what we’ll cover, at a glance:
Beginner tips for eBay seller success: Areas to focus on at the start Automation and accounting for beginners eBay seller tips and tricks to sell more: Store tips Listing and fees tips Description and pricing tips Fulfilment and supplier tips SEO tips Tips on what not to do on eBay Selling on eBay: Tips for Beginners If you are new to selling on eBay, use our tips below but focus on the following areas first.
Successful ecommerce businesses rely on efficient shipping processes.
Without them, selling online is neither sustainable nor scalable. With many online retailers offering same-day or even 2-hour delivery options, consumers now expect their purchases to arrive quicker than ever.
Being smart about your shipping is crucial to striking the right balance between good customer experience and realistic fulfilment on your end. The question is, can you both afford and manage the options you are offering?
The eBay Global Shipping Program makes selling overseas a breeze. By taking care of packages on the behalf of sellers and sending them across the world, eBay opens up its entire global marketplace for trade. What’s in it for sellers? Millions more customers without the hassle of customs and imports paperwork. And for buyers? Access to more products with transparent shipping fees and processes. So, how does it work exactly?
Opening an eBay store is an excellent portal into the world of ecommerce. As one of the simplest, no-fuss selling platforms available, eBay is full of possibilities, and open to anyone. eBay has been around for a good while - since 1995, to be precise - and has positioned itself as a ‘selling partner’ in the ecommerce space. The platform is designed for sellers, whether you’re selling unwanted items, or scaling a full-time ecommerce business.
Sagebegan life as a startup in 1981. Founded by David Goldman to automate the accounts of his own business, Sage now has 13,000 employees worldwide and millions of customers across 23 countries. And, in 2018, Sage took their offering to the cloud. Today, we at A2Xare excited to announce that Sage Business Cloud Accounting customers will now be able to integrate with our software for seamless ecommerce accounting. Truly a world-class software match made in heaven.
In 2020, the US is estimated to have spent over $370 millionon retail ecommerce sales. By the end of 2021, this figure is expected to surpass $400 million. When Amazon was founded, the internet was relatively new and sales tax was something cemented in bricks and mortar. People shopped on streets - not online - so a physical address was enough for states to keep tabs on businesses. Today, an ecommerce business might have no address or multiple.
There are over 25 million sellerson eBay. No matter what you sell, with competition like that, you need to have a plan. Fortunately, with around 182 million users, there’s plenty of opportunity to grow and thrive. The purpose of an eBay business plan is to articulate your idea and figure out how to make it feasible. To do this, you will need to explore the different aspects of your business which define what it is and how it will operate.
As an eBay seller, you’ve got some competition.
With 182 million users and over a billion listings, you need to leverage every free tool at your disposal in the quest for that lucrative, competitive edge.
Search Engine Optimization (SEO) isn’t just for Google. A free driver of organic traffic, eBay SEO just might be your new marketing best friend - it’s certainly not one to ignore.
So, how does SEO for eBay work, exactly?
Shopify offers payment gateway options for over 100 providersacross the world.
So that you can provide your customers with the options most likely to suit them. A2X supports thousands of Shopify sellers with their accounting. No matter the payment gateway used, A2X interprets bank deposits and ensures that sellers have all the information they need to be able to manage their finances properly. With access to this kind of data, we can help sellers determine which gateways are proving most popular among our subscribers.
Updated January 2021.
Merchants who sell through Amazon can now secure dedicated ecommerce loans, but what does this look like in the books?
In this article, we’ll explain eligibility, Amazon lending transactions, and how to record Amazon loan repayments.
Table of Contents Lending for Ecommerce: Amazon Loan or Bank Loan? Eligibility for Amazon Lending What are Amazon Lending transactions? How do Amazon Loan repayments work? Accounting for Amazon Lending How it works Accounting mistakes Asset and liability transactions A2X for Amazon Lending Also on the blog Learn how to manage your Amazon accounting the right way
Interview series with Conrad Rohleder: Part Two Traditionally, you’d wait till the end of the month to review your business’ progress and outcomes. This can leave you chasing your tail. To keep on top of the day to day, you need a way to track your business in real-time. Understanding the differences between business intelligence and accounting is one way to achieve this. In the second part of this series with Conrad Rohleder, we discuss: The difference between summary accounting and business intelligence.
Interview series with Conrad Rohleder: Part Three Everyday efficiency and clarity surrounding your business outcomes is optimised when you can integrate and review data effectively. However, not all programs are created equal when it comes to integration. Often businesses become pigeon-holed or bogged down using multiple programs that do not communicate properly. This can inhibit the growth and success of your ecommerce business. The solution? Learning to leverage business intelligence in ecommerce.
Updated December 2020.
If you’ve ever reviewed an A2X settlement summary, you’ll know Amazon has some very creative ways to charge Amazon sellers money.
But what do ShippingChargeback, GiftwrapChargeback, and SalesTaxServiceFee really mean, and how do you reconcile them to the Amazon Reports > Payments section of Seller Central?
To help this make sense, we’re going to walk you through reconciling your Amazon seller statement. We’ll use an example that matches low-level transactions in an Amazon settlement report to the corresponding high-level transactions Amazon considers in their report summary.
Anyone who runs an online store will know that the beauty of ecommerce is that its capabilities are limitless.
It’s a fantastic way for retail stores of any type and size to reach a new community of customers – enabling you to expand your sales worldwide without the extensive costs of setting up a brick-and-mortar store.
Ecommerce has levelled the playing field, making it possible for small businesses to compete with corporate giants on an international stage.
Like all business owners, Amazon marketplace merchants may one day weigh up the prospect of selling their business. And what will prospective buyers want to see? Accurate accounts demonstrating a healthy business.
Even if you’re not considering this anytime soon, it’s sensible to behave as if this will be your goal one day. If you do this from the beginning, not only will your business operations be organized and transparent for you, but it will be much easier to go into the sales process prepared for success.
Please note: ecommerce sales tax is still evolving and changing. These guides are correct at the time they are written but please consult official government pages or accounting professionals for the most up-to-date information applicable to you.
The Supreme Court ruled in favor of South Dakota, granting the state authority to impose sales tax obligations on out-of-state transactions. Online sellers will have a new set of obligations and challengesahead of them, while states could potentially gain billions in revenue.
A2X has been built to scale up to support accounting for hundreds of thousands of Amazon sellers, including the largest who deliver in excess of 100,000 orders every month.
At A2X we’re incredibly proud of the architecture we’ve built on top of Google’s Cloud platform (GCP) and delighted to have been recognised in a recent Google Cloud case study: “A2X: turns to Google Cloud Platform to help eliminate accounting complexity for Amazon sellers”.
How HPC accounting uses A2X to help solve its clients’ problems HPC Accountingis something of a trendsetter among US accounting firms.
The business started in 2011, and unlike most firms at the time, focused on providing value-based services, rather than charging clients hourly rates.
Since 2016, they have abandoned time tracking altogether, preferring to give their clients personalized service and in-depth advice.
As Accounting Manager Catherine Fogarty explains, HPC was also an early American adopter of Xero.
Catching Cloudsis A2X’sfirst guest blogger, and we are proud to be a part of the growth journey of the A2X ecommerce accounting innovation. As an accounting firm specializing in ecommerce accounting, we have dozens of clients using A2X’s services and use it for all of our Amazon clients, and love it.
Since we are avid A2X app users, here are some pointers on the process we use for setting up and mapping the exhaustive list of Amazon feesto Xero’s chart of accounts.
We consider ourselves very lucky at A2X, because we get to work with some pretty awesome brands. The companies that we work with have been started by a diverse range of passionate business owners throughout the world, all with big ideas and plenty of determination. They inspire us all the time and so, this Christmas, we wanted to share some of that with you. In this 12 Days of Christmas series, we will be spotlighting a few of these brands and talking to them about their story, top ecommerce tips, and apps they like to use to help with running their businesses.
[Announcement made August 2017].
We are delighted to announce the introduction of our first UK partner AVASK Accounting & Business Consultants.AVASK and A2X have been working together since 2015. A2X has been essential in streamlining AVASK’s services, allowing their tax advisors and accountants to automatically fetch their clients’ latest Amazon settlement transactions and post summarised transactions directly to their accounting system.
“A2X is an essential part of our day-to-day operations.
We’re thrilled to announce that A2Xhas been granted the Industry Specific App of the Year award at the Xero Americas Awards 2018.
This award recognizes the fact that accountants and bookkeepers in North America (and throughout the world) are gaining significant amounts of value out of using A2X to automate their Amazon accounting.
“The niche focus of A2X has really paid off… no other tool on the market nails Amazon payout reporting like the tool they’ve made.
Ensuring that your accounts are reconciled, accurate and up-to-date is easier said than done for most ecommerce sellers.
It’s tricky enough for those selling only on Walmart Marketplace, but if you have a more diverse portfolio with multiple channels and potentially locations, balancing those books can be a real minefield. Unfortunately though, it is a crucial part of the business.
Automating your accounting makes good business sense. When you automate, your transactions are downloaded as settlement payments come through, which means that you can keep on top of your orders, and bank deposits with ease.
Accounting is a time-consuming necessity for all ecommerce sellers - large and small!
Automating your accounts is a great way to eliminate the need for (potentially erroneous) manual data entry. Transactions are sent automatically as soon as orders complete, tallying up in your accounting software ready for you to reconcile.
When it comes to accounting for ecommerce sellers, there are still some crucial parts missing in this tech stack. As a seller, you need certain information in order to survive and thrive, which A2X can help with.
So you owe money to Amazon, and you know this because there’s a negative balance on your Amazon seller account.
What happens if you owe amazon money, and how do you correct it?
The good news is that an Amazon seller negative balance is usually nothing to worry about.
Table of Contents What is an Amazon seller negative balance? How to locate negative settlements in Xero How to balance your accounts by reconciling a single Amazon payment [four steps] Step 1: Find Amazon deposit Step 2: Find & match Step 3: View invoices and bills Step 4: Combine and balance Also on the blog Learn how to manage your Amazon accounting the right way
Interview series with Conrad Rohleder: Part One If you’re selling on an ecommerce platform, you want to do it right. Integrating intuitive, automated systems to handle your accounting and inventory is a must for your business. Programs such as Clearinity and A2X will save you time and money, paving the way for accelerated success. Clearinity is a cloud-based inventory management and operations optimization system, designed to make running your ecommerce business simpler and more successful.
Ah, sales tax. The ultimate Pandora’s box has come for ecommerce sellers.
In 2019, US online retail sales of physical goods reached an astronomical $343 billion. By 2024, they are forecast to reach $476 billion.
Physical presence in a state used to be a parameter for tax, but times have changed. With billions of dollars floating in the digital space, governments everywhere, not just in the US, have needed to change tack.
Since its inception in 1995 (just one year after Amazon), eBay has capitalized on the obsession we have for both online shopping and selling. But for those who run a business buying and selling items on eBay, reconciling accounts can get messy at the best of times.
For eBay, all payments and purchases were previously routed via Paypal, a subsidiary of eBay. Reconciling all transactions across the two platforms was time-consuming, causing inaccuracies, challenges with dispute resolutions, and delays in funds.
It all startedwith a broken laser pointer.
In 1995, Pierre Omidyar saw potential. The internet was still fairly new, but perhaps this giant network could be a good opportunity for commerce.
He tried it out, listing a laser pointer for $1 on his originally-named Auction Web, which was soon driven up to sell for $14.83. Perhaps there was something here. By early 1996, eBay had become a million dollarcompany. Now, at only a quarter of a century old, its market capitalization sits at around $29b.
Oh yeah, that’s right. We’re not for everyone. What? Why?! We’re excited about our customers, and what they’re working to achieve. These are people who want to focus on their businesses, and not waste their time doing things that could easily be automated. The fact is, everything we do is designed to provide you with a wonderful customer experience - something we really value. Speaking of values, other things that are important to us include innovative solutions, trusted relationships, and razor-sharp accounting accuracy.
You spoke and we listened.
Over the last few years, we have been asked many times if A2X can be used to connect eBay with your accounting system.
And while there is a manual workaround that can be put in place to connect your accounts, we haven’t offered a dedicated eBay accounting integration- until now.
Introducing A2X for eBay: beta programme Today, we are proud to announce the launch of our A2X for eBaybeta programme in advance of the official rollout later this year.
Updated October 2020.
Like all business owners, Amazon marketplace sellers make dozens of decisions every day. Some are minor, while others will affect the business for years to come.
One significant decision is selecting an accounting system, or for those operating in the cloud, choosing between Xero and QuickBooks Online. These are the most widely-used and best-known cloud-based accounting systems most Amazon sellers will go for.
Which is better for A2X Accounting Automation – QuickBooks Online or Xero?
Today is an exciting day for everyone here at A2X. That’s because today, we are thrilled to announce the launch of A2X for Walmart.
While Walmart has traditionally been a big box retailer operating megastores throughout the world, they recently entered the online shopping industry in a big way - by creating the Walmart Marketplaceand acquiring a number of smaller online shopping platforms to fuel their growth.
If you’re selling on Walmart, or planning to sign up in the near future, then you’ll be pleased to know that A2X for Walmart is here to take the hassle out of ecommerce accounting.
Learn how A2X can integrate with Facebook Shops in order to give you automated and accurate accouting for your business. There’s no other digital marketing opportunity quite like social media. It’s one of the easiest ways to spread the word about your brand, engage potential local and international customers – and ultimately grow your e-commerce business.
Facebook has dominated the social media market for a decade. Not only is it the platform of choice for connecting with family and friends, but it’s also the go-to marketing tool for most business owners.
Streamline your operations and get ahead of the competition. Here are the top tools you need to be using if you’re selling on Amazon UK. In 2002, Amazon launched its UK marketplace, allowing third-party sellers to sell their products to local and international Amazon customers. Over the past 18 years, Amazon UK has grown to be the second-largest marketplace in Europe, and thanks to Europe’s version of Fulfilment by Amazon (FBA) – called the European Fulfilment Network (EFN) – over 280,000 UK sellers use the online marketplace.
As a busy retail shop owner, your time is spread across a wide range of activities every week. Whether it’s looking after customers, managing staff or setting up your systems for success, the last thing you want to do is create unnecessary work.
And while simplicity is a virtue in any business, the retail landscape has grown much more complex thanks to the prominence of the internet. Customers expect us to be present on social media, have an online store, and provide a range of shopping options to suit their preferences.
Finally a way to accurately automate your Amazon pay accounting and reconciliation with A2X for Amazon. Here’s how. When customers check out with Amazon Pay, the sales proceeds arrive in the merchant bank account up to two weeks later. They are batched with other transactions and various fees are deducted. Often the merchant has no way to account for the fees or to reconcile the funds received with the sales orders they see in Shopify or other sales channels.
It’s official! A2X for eBay is here, and we are excited to be a part of this ecommerce giant’s journey.
Now, sellers on eBay’s global marketplaces can benefit from A2X’s award-winning ecommerce accounting offering and integrate it directly with Managed Payments and Xero or QuickBooks.
And that global marketplace is rather large:
Any ecommerce seller will know that bookkeeping is an essential, albeit time-consuming, part of running their business.
Accurate accounting thanks to seamless integration With the number of apps and technology available today for e-commerce sellers, manual accounting processes can be – and should be – a thing of the past. There are few other business tasks as essential, yet labour-intensive, as accounting. It can both drive the growth of your business forward, and at the same time, completely overwhelm you.
There is a time and a place for manual spreadsheets and processes, often best used at the start of your Amazon FBA journey when order numbers are low.
Shopify is one of the biggest names in ecommerce, so big that it’s hard to remember a time when the platform didn’t exist.
Over the past 15 years, Shopify has well and truly carved its name into the web application hall of fame, offering traditional retailers and entrepreneurs alike the freedom and wealth of ecommerce.
With a myriad of different ecommerce platforms available to today’s keen entrepreneurs, there are many reasons why Shopify’s star shines so bright.
See our updated guide for Amazon automation in 2021 here.
Every online retailers’ dream is to grow a successful business, and while it’s not the reality for some (some products just won’t sell), it has been and can be attainable for many. Since its inception 25 years ago, Amazon has evolved to become the largest online marketplace in the United States.
Amazon’s customer base by far exceeds that of its competitors, with 12 marketplaces worldwide generating US$280.
Join Hector Garcia LIVE when he interviews Brittany Brown of LedgerGurus tomorrow 2/20/2020 1pm-3pm EST
Register here: https://zoom.us/webinar/register/3115536351662/WN_cyfZbUStQgy4y8ywVm_W6gBrittany Brown of LedgerGurusspecializes in e-commerce accounting for US-based businesses and advocates for A2X. Using A2X gives you confidence in your e-commerce financials because you know the numbers are right when it reconciles to the cash in your bank account. She’ll include a demo which shows how A2X automates important steps in Amazon and Shopify accounting.
The A2X team is currently spread out far and wide for a very busy end of year. Whether you are in London, Singapore or Toronto, there will be an event nearby. Giving you plenty of opportunity to meet the team and check out firsthand the new Shopify integration and the new VAT features for Amazon accounting with A2X. A2X in London After a successful QuickBooks Connect 2019 in San Jose.
As a Shopify seller, having a good set-up is crucial for business growth and maintenance.
If you’re an ecommerce seller on the hunt for the perfect accounting system, this article will explore why Xero and QuickBooks with A2X for Shopify are the best solutions on the market.
QuickBooks Online See pricing plans.
Intuitive QuickBooks Onlineis rated by many as the gold standard software for small business accounting – and they wouldn’t be wrong.
Thanks to your incredible support over the years, A2X has been named a finalist in the 2019 Xero Awards in the Emerging App of the Year category for the release of our Shopify accounting tool, A2X for Shopify.The Xero Awards 2019 are all about recognising and celebrating diverse partner firms, apps and small businesses.
Basically, it celebrates those who are doing extraordinary things in the life of their businesses.
As a seller, you’ll know the beauty of ecommerce is that you can run your business and sell your products from anywhere, to anyone in the world.
While that creates accessibility and flexibility, it doesn’t necessarily make business any easier.
Automating your store functions is the best way to streamline your ecommerce business, removing the manual work, so you can concentrate on more valuable tasks; the ones necessary to growing your business.
A2X, the worlds leading Shopifyand Amazon accounting connectorhas been named by Xero as it’s App Partner of the Month for September 2019.
A2X has been helping thousands of you across the world to automate, streamline and accurately account for all of your, or your client’s e-commerce sales for over 5 years now. The launch of our new product, A2X for Shopify is now helping Shopify stores all across the globe to accurately account for their Shopify sales inside of Xero.
The A2X team are very excited to be attending Xerocon with the main focus being the recently launched, A2X for Shopify! This week, on the 4th and 5th of September, A2X is heading along to Xerocon at the Brisbane Convention & Exhibition Centre. As well as the usual Xerocon excitement, we have a jam-packed schedule planned for you. If you’re an accountant with Shopify clients or you are interested in the e-commerce accounting niche, come by the A2X booth with all your pressing questions.
You’ve set up your Shopify store and now you’re ready to grow your business, and that means increasing sales. Shopify’s App Store is full of free and paid plugins you can easily integrate and use to your advantage.
Too much choice, though, makes it hard to know where to invest your time – and sometimes money. So, we’ve done the research for you, compiling a list of the top ten apps you need to grow your turnover and revenue.
Amazon apps now have a home for reviews, and A2X is front and center here.
Reviews mean a lot to us at A2X, but they also mean a lot to you, all the new customers that are looking for solutions to their e-commerce accounting. The thousands of positive experiences our customers have helps to guide new customers to our solution so that it might help them too.
The proof is in the pudding, as you can see from the hundreds of reviews that you, the person accounting for your e-commerce sales, have taken the time to share on the independent app websites that are most relevant to you and your colleagues, from Capterra, Shopify, Apps.
If you’re getting serious about your Amazon ecommerce business, you’ll already have yourself dedicated cloud-based accounting software, like Xero or QuickBooks. Hopefully, you’ll also have integrated A2X so you have timely, usable sales data and reporting at your fingertips. The next thing you need? Sales-tax software.
The cold hard truth is that if you’re selling via Amazon FBA, at some point you’re going to be paying sales tax– and that’s when your accounting can get complicated, especially if you’re selling in the US.
Over the past 10 months, United States sales tax laws have changed dramatically for online sellers (both domestic and foreign) that supply customers in America.
On June 21st, 2018, the US Supreme Court discarded the physical presence requirement sales tax nexus in their landmark Wayfair ruling. Since then, we have experienced a great deal of changes to how states calculate and collect sales taxes. Many of these changes have been negative, but you may be surprised to hear that some of them are positive.
You asked and we listened.
After many months of development and hard work behind the scenes, we’re thrilled to announce that our latest integration is here: A2X for Shopify.
During the past four and a half years, we have helped thousands of Amazon sellers and accountants to simplify their bookkeeping by automating the process of importing financial information into Xero and QuickBooks Online.
Through accounting for settlements rather than individual transactions, A2X provides a highly accurate and scalable method of recording transactions.
An Interview with Paul Grey of ExportX [Part One] with Karen Brady Part Two here.ExportXis an international ecommerce business representing more than 50 brands of products from Australia and New Zealand, selling with Amazon and FBA since 2008 in the USA, Europe, Asia and Australia.
ExportX has been importing goods to the USA for more than 10 years and has long experience with customs clearance and tariffs in dozens of product categories.
Every year, the Amazon marketplace grows and morphs into something new.
What was once an obscure online bookstore has come to dominate online retail throughout much of the world, so it’s no wonder that new sellers are flocking to get a piece of the pie all the time.
In this article, we look at the ecommerce landscape for Amazon sellers, how to get started, and what they need to succeed.
A2X was featured on the Lazy Entrepreneur Podcast this week. Where long time business owner and A2X user, Sam Priestley showed his listeners the details of the day-to-day of his Amazon FBA accounting. He goes into depth on how he combines a traditional accountant, bookkeeping software and A2X to handle a large international Amazon FBA business. Explaining it all to his wife and business partner Emma who has no experience whatsoever with accounting or bookeeping.
Still using a spreadsheet for your Amazon accounting?
You could be making a huge mistake. One that will cost you far more than the money you might save not using accounting software…
In this guide about using spreadsheets vs. A2X for your accounting:
Table of Contents Accounting for Amazon Sellers Accounting Before A2X Pros and cons of spreadsheet accounting Accounting with A2X Pros and cons of A2X for Amazon Step into the Future of Ecommerce Accounting with A2X Also on the blog Want to feel completely confident in your ecommerce bookkeeping?
Happy Holidays! Our teams are taking some time away for the holidays and reflecting on the year. We wanted to let you know that there’ll be some changes to our usual availability over the next 10 days. Our support team will be available on reduced hours over the holiday period, so please be patient with us, we will get back to you, but instead of the usual speedy 30 minutes, it might take us until the next day to get back to you.
A2X is used by Firm of the Futurefinalist, Reconciled, for their Amazon accounting automation. Intuit has published the finalist videos - A2X gets a special mention as a tool that helps Reconciled with Amazon accounting. We’re thrilled to be in such great company - thanks for the shout out, Reconciled! Check out the video here:
You’ve asked, and we’ve listened.
Today, we are pleased to announce that A2X will be adding support for QuickBooks Desktop into our core A2X product!
With more than 2.8 million subscribers, Intuit’s QuickBooks product is the largest self-serving accounting system in the world by users, and QuickBooks Desktop makes up a large chunk of that.
What Does This Mean for Users? Well if you’re a QuickBooks Desktop user, that means you can export your Amazon settlements from A2X, and then automatically import them into QuickBooks Desktop.
MTD, or Making Tax Digital, impacts all aspects of the way Amazon sellers in the UK account for VAT to the HMRC. Despite the initial and rather urgent push for sellers to start their transition to compliant digital systems early, many delayed. This means that many UK Amazon sellers are still trying to catch up and understand this shift to MTD. When I first planned to write this blog, I never imagined that I’d actually get to be in the UK as it approached this transition.
This article is has been written with our good friends at OD Accountantsin the UK. It discusses the growth of Amazon FBA in the UK and how OD Accountants have been working though the challenges of Amazon accounting with the help of A2X. During recent years, online marketplaces have transformed the way we shop. Amazon brings together sellers, merchants and businesses in almost every industry into a highly competitive marketplace. This level of competition helps to keep prices down and offer consumers more choice.
Sales tax for ecommerce sellers is relatively new and continually evolving.
When bricks-and-mortar stores were the only retailers, knowing where to pay your taxes and to whom was straight forward. You had a physical location which gave you “nexus” in a particular state; a link strong enough that you needed to pay tax, and that was pretty much the end of the story.
With millions of dollars moving into the cloud space and no physical locations to pin them to, governments faced two problems:
The team at A2X will be heading to Brisbane, Australia early September for Xerocon Brisbane 2018! We will be there in full force with plenty of your favourite A2X Swag. Be sure to come and visit our booth on the exhibitor’s floor to come and say hello to the team! We will also be hosting another one of our popular Amazon accounting meetups - this time will be a little different.
Our trip to Xerocon Brisbane next month just got a little more exciting with the news that A2X has been shortlisted as an Award finalist in the category of: ‘Industry specific app partner’ As an app partner, A2X solves a very specific problem for Amazon sellers and is recommended by Accountants and bookkeepers as a necessary tool to automate the reconciliation of settlements paid by Amazon to its Sellers. We’re looking forward to being in good company on September 4th at the awards event.
In the latest release of A2X you’ll notice a few changes that we’ve made to cost management, cost of goods sold and FBA inventory. We’ve been hearing your feedback, so thank you for the input and suggestions, we hope you like the new tools.
Cost of goods sold (COGS) is now integrated into the A2X free trial, so you can set up and preview cost of goods before choosing your plan.
We are back from another fabulous Xerocon. A complete contrast to the snow Ashley, Paul and Rachel had in Austin, Texas. Atlanta put on a fine show for us weather wise and in many other aspects as well. We sampled the many delights of southern cuisine, managed to spend some time outside the conference visiting the cities many attractions such as the CNN building, the Center For Civil and Human Rightsand of course we could not pass up the opportunity to visit the World of Coca-Cola.
Amazon just launched the Marketplace Appstore, which has been developed specifically with marketplace sellers in mind. The Appstore will function as a central interface for merchants to browse and discover plugins and software integrations that interact directly with their Seller Central accounts. We’re excited to announce that A2X is listed on the Appstore, under the category ‘Accounting and Tax Remittance’. A2X is automated accounting for Amazon Marketplace Sales, fees, cost of goods sold, and FBA inventory.
This post was written and published in 2018. Tax obligations for ecommerce sellers is constantly evolving, so for the most up-to-date information on tax legislation, please consult the official governing body websites for your location. Our blog How-To Guide: Collecting Amazon Sales Taxis also a good source of additional information and relevant sources.
Like many states, Pennsylvania is in the process of introducing new tax legislation aimed at ecommerce retailers.
If you’re an Amazon seller with sales in the state of Washington, you may have noticed some changes to the way your sales tax appears in your A2Xreports. This is the result of the new ‘Marketplace Facilitator Tax’ that was introduced in January this year. While this specific tax only applies to sales in Washington State, other states are introducing similar taxes of their own, which will affect Amazon sellers in the future.
Acuityis a US-based accounting firm that specialises in bookkeeping and accounting for small businesses.
They are tech leaders in the accounting field, and are always looking for ways to make their work more efficient and save money for clients.
A2Xdoes just that, by helping them to automate some complex processes, get accurate numbers, and speed up their results. After implementing A2X and seeing the difference it made, the team at Acuityrecommends it to all their Amazon clients.
Early June the team at A2Xwill be heading to Georgia for Xerocon Atlanta! As a regular at Xerocon now, we’re very excited to meet with clients, partners and accounting firms who have clients selling on Amazon. Xerocon is being hosted at the Southern Exchange in Atlanta Georgia from June 6-7th 2018. Find out more info and get tickets here. We’ll also be hosting an Amazon Accounting Meetup on day one of Xerocon.
A2X is going to be attending Prosper Show 2019 – March 17-19- Feb 4, 2019
[…] members of the Amazon Marketplace Developer Council, we are always very interested to learn about the best ways that the Amazon ecosystem can improve […]
We’re excited to announce that A2X will be participating in the new Amazon Marketplace Developer Council. The developer council consists of a group of developers and organizations that extensively use the Amazon Marketplace APIs to create useful software apps for Amazon sellers.
Through participation in the Amazon Marketplace Developer Council, A2X will be offering input towards the roadmap and future development priorities for the Amazon marketplace APIs. What does this mean for the future of Amazon?
bookskeepis a US-based bookkeeping firm that specialises in ecommerce businesses. They’ve been around since 2014, and have been an A2X partner since 2017. bookskeep has a high number of clients using QuickBooks Online, although they’re seeing an increasing number of Xero users too. Recently, the bookskeep team helped a client who needed to rebuild their financial records in order to sell their business – and they realised the true value of A2X.
Our previous Amazon Accounting Meetup in Austin, TX at the previous Xerocon was a huge success! To follow suit we’re bringing another one, this time in conjunction with our sponsor Xeroto Las Vegas, NV for the PROSPER Showon March 12-14 2018. If you’re in town for the PROSPER Show, please do join us at Gordon Biersch, LV for an informal get together for a drink and a chat about all things Amazon marketplace accounting!
PROSPER showis next week - the place to be for Amazon sellers, A2X will be there and we’re hosting an Amazon Accounting meetup, so if you’re going to PROSPER, we can’t wait to meet you there. This year the show is big, with over 100 sponsors, there’s an intimidating wall of logos. We hadn’t heard of many of these companies and didn’t know what they all do for Amazon sellers, so we thought it might be helpful to provide a quick round-up of each company, what they do and where to find them online.
Palo Alto - Las Vegas - Atlanta. It’s a new season of events for the A2X team. This week we’ve been on the Intuit stand at Startup Grindin Palo Alto exhibiting as part of Intuit’s sponsorship and talking to other entrepreneurs and investors in Silicon Valley’s hub for startup networking. Next month A2X will be with the Amazon seller community exhibiting at the Prosper Showin Las Vegas over March 12-14. We are exhibiting together with our partners and good friends at Catching Clouds on Booth #145.
It’s 2018 and if you caughtthe news last year, you’ll have seen that Amazon is starting to charge and collect Sales Tax on behalf of all sellers in the state of Washington. You’ll start to notice a few new transactions in A2X: MarketplaceFacilitatorTax-Shipping and MarketplaceFacilitatorTax-Principal, these will offset and ItemPrice Tax and Shipping Tax that Amazon has charged the customer, so that it results in a total of 0 to your overall settlement.
Wow, what a year it’s been! Thanks to all our customers and partners for their support this year - we couldn’t do it without you. The A2X support team wishes you a very happy holiday and new year, we’ll be taking some time away with our families and so you can expect reduced support hours and slower response times than usual for the next few days. We’ll be keeping an eye on things so if you need help, just ask via the blue in-app messenger (shown below) or by email on contact@a2xaccounting.
Amazon Australia launched Amazon.com.auat the start of December and hit, what has been reported as, a record first day of sales in any Amazon marketplace.
A2X is excited to report that we are able to support Amazon Australia sellers to thrive on the new platform and nail their ecommerce accounting.
If you’re an Australian business selling on Amazon in Australia, or an international firm opening an Amazon.com.auselling account, A2X will give you the reliable, accurate accounting of sales and fees you need to reconcile your Amazon settlements in Xero and QuickBooks Online.
Our good buddies at Catching Cloudshave created a masterpiece. Something Amazon sellers and their accountants will love. It is an end to end Amazon accounting coursethat outlines the hows and whys of Amazon accounting. It is the course for you if you’re using Xero or QuickBooks Online to track Amazon sales, either in the US or internationally.
Tips and Challenges There are many aspects of the course I respect but the biggest one has to be that Patti and Scott have learned by doing, and often the hard way, and they share these experiences throughout the course.
QuickBooks Connect kicks off this week and the A2X team is in San Jose primed for another week of quality conversations with customers and partners in the heart of Silicon Valley. While the main stage events start on Thursday, we’re getting into town a few days earlier. It’s not just to shake off jetlag, but also to make our pitch in the Intuit App Showdown on Wednesday night. A2X was shortlisted with nine others for the best Small Business App and we will be demonstrating to the judges how A2X solves the accounting problem Amazon sellers have reconciling sales data.
This year A2X exhibited at Xerocon London, in the ExCel convention centre and it blew us away! We had such positive feedback talking to over 100 UK accounting firms who go through the pain and hassle of manually accounting for their client’s Amazon sales, in spreadsheets, every month. Here’s a few highlights and photos from the event. If you came to see us, thanks for stopping by! We had a great booth, right at the main entrance.
Eagle & Fox had big plans for their business, but their accounting was holding them back.
_Here’s how A2X helped the Amazon retailers simplify their VAT reporting, speed up their accounting and grow their business. _
Fergus and Emma Macdonald run Eagle & Fox, a creative online retailer based in the old sea port of Leith, Scotland. They merged their two brands, Kilt Societyand The Tartan Blanket Co, into one dream company – a smart and efficient move.
Part of running a successful Amazon ecommerce business is making sure you always keep an eye on your margins.
This includes more than just knowing how much Amazon deposits into your account.
You also need to know what your actual gross margins are each month so you can track trends, plan for growth, and spot potential problems.
The key to calculating your true monthly gross profit and keeping an accurate set of books is understanding your costs of goods sold.
I’m excited to share that A2X is the featured Xero Add-on in the Summer 2017 Tax Tipspublication from Raffingers. Raffingers is a chartered accounting firm and Xero partner in the UK, having offices in Essex and London, and a keen focus on cloud-based solutions such as A2X.
Big news this month, we’ve released a new easier to use and faster Accounts and Taxes mapping screen, it looks like this: It might not look that different to the old screen, but there’s several important changes:
A2X will now offer to automatically create generic accounts in your accounting system chart of accounts, for example we’ll make Amazon Shipping for the shipping amounts Amazon charges. You can (of course) choose any account you like, or make any new account you like, but if you’re happy with generic options, these can save you some time.
If you are reading this, you are looking at our new blog, now proudly running WordPressand hosted on Google Cloud.We’ve moved from a hosted Ghost blog at https://blog.a2xaccounting.comto our own self hosted WordPress at https://www.a2xaccounting.com/blog/, please update your bookmarks. Any old links should automatically direct you to the new site. If you spot anything missing, please let us know, we’re expecting the comments migration to take around 24 hours via Disqus and the domain name changes may take a few hours to propagate for everyone.
If you’re an Amazon marketplace merchant, you’ll know that selling through the platform isn’t all smooth sailing. In fact, when it comes to balancing your books, there are some serious headaches to deal with.
Sales data from Seller Central is delivered in an overly complicated format, which doesn’t mesh easily with most accounting systems. This means reconciling sales numbers with the actual amounts that land in your bank account can seem nearly impossible, and cost you hours or days every month.
Why e-commerce accountants love A2X. The apparent simplicity of selling through the Amazon marketplace can be deceptive. Although the Amazon Seller Central portal provides details of each transaction in reports and file downloads, as businesses grow and sales increase, accountants and sellers start to find these reports unhelpful – to say the least. Amazon’s sales reports don’t provide a breakdown of sales tax, don’t date sales accurately month by month for accrual accounting, can’t be exported to accounting software without huge issues, and include extremely confusing fees and charges.
The story of how one Amazon seller used A2X to solve his bookkeeping issues and to prepare his business for a successful sale.
For Nick Losciuto, the boom in his Amazon sales was becoming a double-edged sword.
Just before he sold it this year, Nick’s business, Compatible Parts, was processing tens of thousands of orders every month – with turnover in the millions of dollars.
That was great news, except when it came to keeping his financial books tidy.
Last week Xero released their 10th episode of Developer TV, and I got to be in it! Regan and I met at the Xero offices in Auckland and talked about the A2X tech stack, the Xero ecosystem and my advice for getting started with a Xero integration. Check out the full interview below (starts around 1:33). Also worth checking out Dan’s fancy bike riding skills right at the end.
We’re very excited to say we’ll be attending QuickBooks Connect on 18 May 2017at the Sydney Cricket Ground. For accountants attending the event, we’ll be available for meetings throughout the day to talk about how A2X helps to automate and streamline your Amazon seller client accounting. If you’re an Amazon seller using QuickBooks and would like to talk about how A2X works, or if you have general Amazon accounting questions, we’d love to help you.
Today we received our first review for A2X on the Intuit QuickBooks App Store, 5 stars, and we’re very proud to share it!
“These guys have blown all other services out of the water!”
The addition of QuickBooks support for A2X has been only a recent addition and it’s proving popular for Amazon sellers who already use QuickBooks Online to streamline and automate their Amazon accounting. If you would like to save time with your Amazon sales, consider giving A2X a try.
We have some exciting news to share! This month A2X has been namedXero’s Ecosystem partner of the month for the “great work [we’re] doing to help small businesses thrive”. It’s incredibly rewarding to be recognised by Xero. We’ve worked very hard to maintain our 5-star rating in Xero’s marketplace and offer what we consider to be the best Amazon to Xero integration available. As part of the announcement Paul gave the Xero team some tips for selling on Amazon, and some advice for accounting for Amazon sales and fees using A2X and Xero.
Prosper Show is starting in just over a week and we’ve been poring over the agendathese last few days trying to decide what our top picks for sessions are. It’s tough to decide as the calibre of speakers at the event is high, but we’ve narrowed our list to our top-5. Presented in no particular order, the top 5 speakers/presentations we’re most excited to see at Prosper next week.
Michael Fleming - Peisner Johnson & CompanySales Tax.
We’re coming to Las Vegas this month and we’re excited to meet you! We’ll be attending Prosper Showon 22-23 March at the Las Vegas Convention Center. If you’re going to be there, let’s meet up! If you’re not, you should come. There’ll be 100’s and 100’s of serious Amazon sellers there, apps and services like A2X and some fantastic speakers. If you’re not already booked to go, but want to, A2X has a discount code: “A2XA17” to save $100 on your ticket price.
In this post we want to cover two often confusing transactions you will see in your Amazon settlement files that A2X imports. The first is the Current Reserve Amount and the second is the Previous Reserve Amount Balance. Firstly, a bit of background to these transactions. Why does Amazon withhold payment? Sometimes Amazon withholds some or all of your settlement payment for various reasons. Some examples of why we have seen Amazon do this to sellers: you’re a new seller with no history, your credit card on file with Amazon is expired, or there’s a bank account validation problem in your seller account.
This is just a quick note to advise we’re experiencing delays receiving Amazon.fr settlement data from Amazon. We have escalated the issue to Amazon tech support and will update this post as we determine the causes for the delays. In the meantime, the Amazon.fr financial data is not lost, it will be available in your A2X account as soon as we can properly receive it from Amazon. You may see a partially processed settlement in your account while we await the data.
Specific Amazon codes in Xero The other day I was going through my amazon seller fees for the month. I recently launched my first effective Amazon promotion and wanted to see what it looked like in my accounting software. Mostly, I wanted an overview of how much I have given away in order to create the recent promotion related sales. I use A2X and when I did my initial mapping “Amazon Promotion” was not mapped.
If you use Amazon’s FBA (Fulfilment by Amazon) service, you’ve probably seen a few extra FBA fees pop up on your statements. In this article, we’ll explain what those fees mean (in real life), and how to record them in your books. Find our updated fees guides for 2021 here:
Amazon Seller Fees Amazon FBA Fees Table of Contents What is Fulfilment by Amazon? Understanding FBA Transaction Fees FBA Order Handling Fee Variable Closing Fee: BMVD or ‘Media’ Items Refund Administration Fee FBA Pick and Pack Fee FBA Weight Handling Fee Referral Fee On Item Price FBA Storage Fee Long Term Storage Fee Amazon FBA Fees Calculator Accounting for FBA Transaction Fees Problems Amazon FBA Sellers Have With Accounting Cash vs.
They say Better late than never! A number of users have been asking us for updates on new features and changes in A2X as they happen, so allow us to present you the changes and improvements in the May release of A2X.
Better handling of invitation errors A2X supports inviting multiple users to each account, and also allows users to access multiple accounts. Invitations are sent by email and accepted by clicking through to the A2X website.
Busy month for us! Here are the changes and improvements in the June release of A2X.
Bulk actions on the settlement list This was a bug fix, since this feature was not working in certain situations, it is now and we thought we’d take the opportunity to tell you about how it works. STEP 1 To enable the bulk actions, click on the tool sign and choose “Enable Bulk Actions” After enabling bulk actions, the following little sub-menu will appear: STEP 2 Choose one of the bulk actions that you want to use (Refresh, Delete, Send to Xero) and select settlements you want to apply the chosen bulk action by clicking the checkbox on the right of the settlement.
A2X software offers different options for the grouping of Sales, Refunds, Promotions, Shipping and Gift Wrap charges. We also have a Grouping by Product Type option. Grouping by SKU is fairly obvious; grouping by product type is a little more complicated.
In this article, we’re going to show you how grouping by product type works. We’d like to say upfront, product types are generally an extra-for-experts setting that not all users are going to want or need.
We have received a number of inquiries from users that want to link multiple Amazon accounts to one Xero account (called an ‘Organisation’ in Xero), we decided to make this step-by-step guide in order to walk you through the set up process. The example setup is as follows: Amazon Account 1 <–> A2X Account 1 <–> Xero Account (direct connection) Amazon Account 2 <–> A2X Account 2 <–> Xero Account (shared access)
Several A2X users have been in touch with our tech support team about Amazon settlement files missing from their A2X account. This is a known issue affecting some Amazon sellers.
The symptom of the issue is the new settlement files in your Seller account will have a ‘Request Report’ button showing under Reports > Payments and will require you to manually click the button in order for A2X to access the report.
If you’re an avid Xero user like us, you may already know about Xerocon, happening in Denver next month. It’s taking place from June 2 – 4 at the Denver Center for the Performing Arts, and we think it’s going to be pretty cool. You’ll hear from Xero about upcoming product plans, accounting experts on best practices for your own business reporting and meet developers of all the add-ons you use, including A2X!
In this post we’ll cover how the invoices from A2X reconcile to the payments from Amazon. There are 3 main scenarios outlined below. Single invoice, single payment This is the simplest scenario for reconciling. Xero will see the invoice that A2X creates and the payment from Amazon and offer to reconcile the payment against the invoice, most of the time completely automatically. Xero can match the invoice and payment automatically based on the due date and the amount.
Welcome to the A2X Accounting blog! We’ll post here periodically with articles to help you use A2X, tips for doing your accounting with Amazon and also any product updates. In this post, I wanted to let you know about some upcoming changes to A2X that address the speed issues. We have been hearing your feedback and we have improved the way we access the Xero data to make some big improvements in page load times.
A2X is now even more convenient for you to use. A2X/QuickBooks users can now safely sign in with Intuit.
A button that you will see on the A2X ‘Sign in’ and ‘Sign up’ screens labelled ‘Sign in with Intuit’ will allow you to sign in with your Intuit login details.
Here is how it is done:
Step 1 -Select ‘Sign in with Intuit’ After pressing this button, what you see next will depend on whether you are already logged into QuickBooks in your browser, and whether you have already granted A2X limited access to your basic QuickBooks details.
Accurate ecommerce accounting without the fuss
for Shopify, Amazon, Walmart, eBay and Etsy businesses.