For Accountants

A2X for Walmart Launch | Seamlessly Automate your Walmart Accounting with A2X

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 Marketplace and 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.

How A2X handles VAT in all European Amazon marketplaces

Here’s how A2X can help you manage your sales tax Anyone who runs an online store will know that the beauty of e-commerce 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. E-commerce has levelled the playing field, making it possible for small businesses to compete with corporate giants on an international stage.

Accounting for Facebook Shops with A2X for Shopify

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.

UK Ecommerce Accounting Software for Amazon FBA and Shopify

Running an ecommerce business in the UK comes with a unique set of challenges and opportunities. Regardless of whether you’re selling on Amazon, Shopify or another digital avenue, you need to have accurate financials in order to make sound business decisions. Many digital entrepreneurs (and their bookkeepers) manually enter the sales or payout data into their accounting system. While it may seem like a suitable solution in the beginning, this can result in more work and a wide range of issues such as reporting errors, difficulties with comparing the performance of different channels and time periods, and challenges when it comes to selling your business down the line.

6 Common Accounting Mistakes that FBA Sellers Make

This is a guest post from our partners at Bean Ninjas. Did you know that more than 50% of Amazon’s $280 billion in revenue comes from FBA sellers? The competition for sales has only grown with FBA sellers doing anything they can to get an edge. In some cases, this includes unethical or downright criminal practices to get more sales or hurt their competition. So, the last thing you want to do is create self-inflicted problems.

How to get reconciled Shopify POS accounting

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.

Amazon Pay accounting and reconciliation with A2X

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.

Amazon FBA Sellers Get Better Accounting with A2X

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.

E-Commerce Accounting: What Makes It So Different?

What makes e-commerce accounting different and how using an e-commerce accountant will help You’ve started an e-commerce store, and you’re slowly getting the different parts of your business sorted – suppliers, inventory, sales and marketing. Then you get to the not-so-simple matter of sorting your accounting. You remember taking a couple of accounting classes way back in high school, so you could try and muddle your way through if you had to.

Get Better Accounting for Shopify with A2X for Shopify

Shopify sellers have better accounting with A2X for Shopify integration In today’s technology-driven world, there really is no excuse for poor accounting. While most businesspeople – Shopify sellers included – find it a monotonous and time-consuming chore, it’s essential for tracking, managing and optimising the growth of your business. When you can (sooner rather than later), you’ll need to say goodbye to your spreadsheets, and invest in good accounting software. Having a robust system in place will help you manage your cash flow and taxes – simplifying your finances.

Full List of Amazon FBA Warehouse Locations and Sales tax rate by State

Amazon FBA Warehouse Locations Keeping on top of your inventory and the different sales tax rates associated with each state can be a juggle. There’s nexus to consider, both physical and economic, as well as local sales tax which drives the total state tax rate up. Of the 50 US states (plus Washington DC), Amazon currently owns and operates fulfilment centres in 27. As an FBA seller, it’s important that you know this because it influences which states you should be collecting sales tax in.

How-To Guide to Collecting Amazon Sales Tax

Collecting sales tax on Amazon - A how-to guide for Amazon sellers in the US and Canada As an e-commerce seller, you know you should be collecting sales tax. Items sold and distributed within the US and Canada are usually subject to sales tax. That part’s straightforward, but how much to collect is a different story altogether. In the US, each state has its own state or local tax rate – some have both.

How-To Guide to Collecting Shopify Sales Tax

Collecting sales tax as a Shopify merchant - A how-to guide for sellers based in the US and Canada Sales tax is a fact of life for all e-commerce sellers. If you’re not currently collecting it, you’re probably not meeting your tax obligations. Every product sold in the US and Canada – whether you’re a local or foreign seller – is 9 times out of 10 subject to sales tax. But the real question, and where things get a little tricky to keep track of – is how much?

A2X in London, Singapore and Toronto

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.

Accounting and Sales Tax: What do Amazon Sellers Need to Know?

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 challenges ahead of them, while states could potentially gain billions in revenue. But what does it mean for your business? In an exclusive webinar from the tax pros at Avalara & A2X, we explain everything you want to know about sales tax compliance and automating accounting.

Accounting for Shopify - The Best Shopify Apps for Accounting

Cloud-based apps and software have revolutionized the digital landscape for businesses and consumers alike. By removing the need to store everything on physical drives, and making information available at all times through the cloud, a new world of possibilities have emerged that simply weren’t possible 20 years ago. When it comes to accounting for your store’s transactions, cloud-based apps offer a wide range of ways to simplify your activities and free up more time to focus on higher value tasks.

How-To Guide: Seamlessly Integrate Shopify with QuickBooks

Integrating Shopify with QuickBooks. Step-by-step instructions using A2X Good, accurate accounting is fundamental to the growth and compliance of any business. For small e-commerce sellers, crunching numbers, while essential, is one of those back-office admin tasks that chews up a lot of time and effort. For that main reason, e-commerce sellers often turn to third-party accounting software like QuickBooks to help them automate their business financials. Lots of Shopify sellers currently use QuickBooks, and if you’ve stumbled across this article, we’re guessing you’re in that boat.

Welcome Financly Bookkeeping Solutions - A2X's first Canadian Partner

We are excited to welcome Financly Bookkeeping Solutions as A2X’s first Canadian Partner. Teresa Slack is one of the two owners and founders of Financly Bookkeeping Solutions - a cloud-based, virtual bookkeeping service for modern businesses that need a dynamic accounting team. With over 30 years of experience, she is not only skilled at financial record keeping and reporting, but also setting up systems, business management, sales and marketing, forecasting and much more.

Amazon and Shopify accounting with QuickBooks Enterprise

A2X for Amazon, and A2X for Shopify are helping thousands of e-commerce sellers across the world automate their accounting. In these two guides, we’ll show you how users of the QuickBooks Desktop and QuickBooks Enterprise products can use A2X to account for their Amazon sales and/or their Shopify sales. Using A2X for Amazon with QuickBooks Desktop and QuickBooks Enterprise Using A2X for Shopify with QuickBooks Desktop and QuickBooks Enterprise What is A2X for Amazon?

How-To Guide: Seamlessly Integrate Shopify and Xero

Integrating Shopify with Xero. Step-by-step instructions using A2X You have your Shopify store, and your accounting software Xero – and now you’re looking to integrate the two. No problem. This how-to guide includes step-by-step instructions on how to sync them up – including using an accounting connector app. “No! Not another app to add to the mix!” we hear you say. But, it’ll be worth it, promise. This guide will take you through how to easily integrate A2X with both Shopify and Xero and why your e-commerce business will benefit tremendously from using an accounting connector.

Peace of mind with A2X and TaxJar

How they work together to make your sales tax life easier If you’re getting serious about your Amazon e-commerce business, you’ll have already got yourself dedicated cloud-based accounting software, like Xero or QuickBooks. Hopefully you’ll also have integrated A2X so you have timely, useable 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 life can get complicated, especially if you’re selling in the US.

The definitive guide to Amazon 1099K reports for Amazon Sellers

What does the 1099K mean? How do I reconcile a 1099K? Why are the financials not accurate for business management accounting? Introducing the 1099K report from Amazon The Amazon 1099k (or sometimes just called the 1099 or “ten-ninety-nine") is the one report we get asked about so often at A2X; ‘How do I match the 1099K to my sales, how do I know where Amazon gets their numbers, what does this all mean and why does it never easily balances back to your business management accounting?

How to Accountants can grow their Amazon seller client base

If you’re an accountant who’s trying to establish your niche, serving Amazon sellers is a great option. Consider this: there are over 2 million sellers registered on Amazon, and approximately 2,975 sellers join Amazon every single day. That’s a sizeable pool of potential clients that you can target, right off the bat. On top of that, these folks are raking in quite a bit of cash. All in all, marketplace sellers made $118.

Introducing A2X for Intuit QuickBooks Desktop and Enterprise

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 you? ** 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.

A2X asks Accountants in the UK: How can Amazon Sellers prepare for the UK’s MTD?

MTD, or Making Tax Digital, means a big change for Amazon Sellers trading in the UK, and affects all aspects of the way Sellers account for VAT to the HMRC. Despite the increasing urgency for Sellers to start their transition to compliant digital systems, there is currently very little mentioned about MTD on the UK media. When I first considered this topic for a blog, I never imagined that I’d actually be in the UK, talking to Accountants about how Amazon Sellers can prepare for this.

Sales tax strategies for Amazon FBA sellers in the United States

This article is a guest post from our good friends at MuseMinded. They have teamed up with Permitted to offer a free sales tax starter kit for US-based Amazon sellers. Learn more here. As an Amazon seller in the United States, complying with sales tax can become an extremely complex burden if it isn’t managed properly. This is due to the fact that each State has different tax rates, filing frequencies and other requirements.

Amazon Accounting Meetup Summary: Atlanta, Georgia - June 6th

On June 6th, 2018, we hosted a meetup for Amazon sellers, accountants, and people involved in the eCommerce space. This meetup was held after the first full day of Xerocon in Atlanta, Georgia. We were privileged to have Brandon Wasser and Cat Fogarty present as guest speakers. Brandon Wasser is a Senior Account Manager at Bookkeeper360. Through this role, he has learned a great deal about emerging technologies and trends that are shaping the way we shop, and how businesses need to evolve in order to thrive in an ever-changing environment.

Amazon Accounting Meetup Summary: Sydney, Australia May 22nd

On May 22nd, 2018, we organized a meetup in collaboration with Intuit Quickbooks (referred to as QBO throughout this article), where a range of topics related to Amazon accounting were discussed. We were privileged to have three Amazon accounting and app experts present at our meetup: Jeri Wambeek from Which AddOn. Michael Fleming from Sales Tax and More (via video link). Arnold Shields from Dolman Bateman Accountants. Our meetup was hosted at the QBO Sydney offices.

A brief guide to VAT obligations for Amazon merchants selling in Europe

There’s no denying that automation drives efficiency and reduces cost. In the long run, the most efficient players in any given market have the best chances of winning market share and building long-lasting businesses. For eCommerce, warehousing and fulfilment, Amazon has positioned itself to take full advantage of the coming automation era by implementing the latest technologies and creating a highly automated eco-system. Amazon’s offering makes it much easier for merchants to sell internationally than ever before.

Sales tax, historic data, and multiple channels - understanding taxes in Pennsylvania

Like many states, Pennsylvania is in the process of introducing new tax legislation aimed at ecommerce retailers. While their new system is slightly less messy and complicated than some others, it can still be difficult to understand for non-accountants. If you’re an Amazon seller selling in Pennsylvania, it’s obviously beneficial to understand the ins and outs of the new system. We talked to Amazon tax expert Michael Fleming, of Michael J Fleming & Associates Sales Tax and More, to gain a better understanding of the issues and how they will affect your business.

How A2X lets Acuity do more for their clients - automated, accurate, affordable

Acuity is 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. A2X – which helps them automate some complex processes, get accurate numbers, and speed up their results – does just that. After implementing A2X and seeing the difference it made, the team at Acuity recommends it to all their Amazon clients.

Prosper Show 2018 Amazon Accounting Panel Recap

The Prosper Show is an annual conference for Amazon marketplace sellers, and the ecosystem of businesses and applications that serve marketplace sellers. During the 2018 Prosper Show held in Las Vegas on March 13-14, 2018, A2X hosted a live interview panel with four leading Amazon marketplace accountants: Scott Scharf from Catching Clouds Melanie Shabangu from Avask Accounting Jeremiah Kovacs from MuseMinded Cyndi Thomason from Bookskeep During the live panel, audience members had the chance to ask the Amazon accounting experts a range of curly questions, and have a discussion about the future of Amazon accounting.

A2X, bookskeep, and backdating the books

bookskeep is 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.

A2X, Amazon, and the future of accounting with HPC

A case study with HPC Accounting and A2X HPC Accounting is 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 personalised service and in-depth advice. As Accounting Manager Catherine Fogarty explains, HPC was also an early American adopter of Xero.

Amazon Bookkeeping tips from Patti Scharf, Catching Clouds

Patti Scharf from Catching Clouds has published this fantastic video on the Catching Clouds Academy YouTube channel introducing the many challenges and mistakes Amazon sellers make when accounting for their Amazon sales, and how you should be doing it (with A2X). Here’s the video, I highly recommend checking it out: Patti is putting out a ton of great videos, so if you like this one, subscribe to their channel.

A2X and Amazon Australia Accounting with Xero and Quickbooks Online

Amazon Australia launched Amazon.com.au at the start of December to what is reported as record first day sales for any Amazon marketplace. At A2X, we’ve been busy preparing and testing our connectivity and are now pleased to report we have our first Amazon Australia sellers connected and ready to import their first settlements. A world first for Amazon accounting. If you’re an Australian business selling on Amazon in Australia, or an international firm opening an Amazon.

An Insight into the Catching Clouds Academy for Amazon Sellers

Our good buddies at Catching Clouds have created a masterpiece. Something Amazon sellers and their accountants will love. It is an end to end Amazon accounting course that 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.

A2X and Xerocon - Why do we love attending?

This December the team at A2X will be saddling up for Xerocon Austin. This will be our second Xerocon as an exhibitor and we’re very excited to meet with clients, partners and accounting firms who have clients selling on Amazon. We have been talking to the team at Xero about what we love about Xerocon’s and why we go! We realised that a huge part of these events was the discussions with, and feedback from our clients and partners.

AVASK's James and Angelos discuss Amazon VAT compliance and enforcement with Ed Rosenberg

Last week Ed Rosenberg interviewed A2X partner firm AVASK about VAT compliance and enforcement for Amazon Sellers. James and Angelos covered how VAT compliance is being enforced for Amazon Sellers and the penalties faced if a business ignores compliance. VAT is complex, with some very serious implications for your business, check out the full interview below to get a sense for the challenges and importance of the VAT accounting for Amazon sales.

Do your financials tell a story that sells?

With accrual accounting, the business gained in value by 86 percent." Your financial accounts should offer insight into your business, showing successes and opportunities and helping to pinpoint trouble areas. It means, as an Amazon seller you have the information you need to make better, smarter decisions about the future of your business – you’ll know the true cost of sales, where you’re making and losing money, and where you could be investing more.

Florida to Join the MTC Sales Tax Amnesty Program

Florida: We received word from our friends at the PROSPER Show that Florida has joined the MTC Sales Tax Amnesty program. Detailed information about the MTC Sales Tax Amnesty Prosper Show have created a MTC Sales Tax Amnesty Presentation that describes the initiative in detail and talks about how to apply for the program. What States are participating in the program? The program covers these states: Alabama Arkansas Colorado Connecticut Florida Idaho Kansas Kentucky Louisiana Nebraska New Jersey Oklahoma Texas Utah Vermont Note: Seven additional states are considering participation, and will indicate before August 17 start date.

Amazon, accounting, and A2X

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.

Amazon Reserve amounts: what to do when Amazon withholds your settlement payment

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.

Comprehensive List of Amazon Seller Transactions

Amazon Seller Transactions and Transaction Fees As an Amazon seller it is a good idea to have a finger on the pulse of the Amazon Seller Transactions. That is not to say you have to constantly be aware of them all the time, but in order to get your cost of doing business straight, you need to know at least the basics. In this post, you will find a very comprehensive list of each transaction type.

Grouping sales by product type in A2X

Introduction In A2X we can group sales all together or we can split them by SKU or product type. Grouping by SKU is fairly obvious, by product type is a little more complicated! In this post we’re going to show you how grouping by product type works. I’d like to say upfront, product types are generally an extra-for-experts setting that not all users are going to want or need, it lets you group many different SKUs into single invoice line items for special accounting or tax treatment.