Amazon Seller Accounting

Amazon seller accounting and Flipkart ecommerce accounting is difficult. However, there are different software that are available and can be customized and all the pain areas can be reduced of amazon accounting.

Accounting for amazon seller:
Accounting for ecommerce sellers is very challenging. They find it difficult to manage the returns, understand the transfers and the differences. Amazon ecomerce selling even has various compliances which includes TCS on Ecommerce, TDS deduction, GST Returns filing and so on. Also, the sellers have many charges in the case of returns etc. which becomes very crucial for the management to understand. There are different softwares that are available and can be customized and all the pain areas can be reduced of amazon accounting.

All these points make amazon seller accounting very difficult to understand and even it is very crucial that a process is setup for this.

Makwana Sweta & Associates as a firm specializes in Ecommerce accounting which includes amazon seller accounting, flipkart accounting, Meesho and another online portal accounting.

How we work?

• The firm understands the requirements of the client
• Based on the requirement, scope is defined.
• Existing process and the workflow is understood
• New process and improvements are advised and the loopholes in the exiting process
• The process is worked upon for three months
• Glitches/Loopholes if any are addressed in the three months and the final SOP is defined
• GST, TDS and accounting system is taken care by us.

Having hands on experience in ecommerce and amazon accounting by using different softwares, we are well versed as to which processes can fulfil the client need.

Major challenges faced by online ecommerce operators
1. TCS Credit lying in the credit ledger
2. TDS deducted under section 194-O
3. Amazon charges and payment reconciliation
4. Ecommerce softwares and process
5. Net amount remittance
6. Final margins received
7. Working capital gap due to process unawareness
8. GST Return difference with the TCS Sales
9. MIS Reports of the sales and the revenue
10. Payment integrations
However, we as a Company ensure that the client gets the right software and processes so that they are able to focus more on selling the right products and the entire hassles of the finance division is taken care of by us Amazon sellers must ensure that they are aware about the profitability that they get from each product considering all the return charges, penal charges and other expenses which they bear.

Amazon seller accounting can become easy as our firm specializes in Ecommerce accounting Ecommerce is very booming as many small business owners have started selling on online portals and increasing their reach globally. However, when you want to do business at a large scale, process is very important because it is the backbone of your business Few softwares which work the best depending on the requirements are Zoho Books, OMG Guru, Tally customization, Sage

Top things that you must expect from software
Remote access from anywhere
MIS Report dashboards
Visibility of cashflow
Security controls
Integration mechanism
Automation

Few clients prepare Excel sheet and keep all the record there. However, if you are just starting the business then it is fine. However, when the daily orders increase, this sheet cannot serve the purpose as you will not get any updated records or integrations with excel sheets. There comes software which reduces on the manual errors and imports all the data from the amazon and other ecommerce portal dashboards into the accounting software and the payment reconciliations happen. Ecommerce accounting and business can be managed in the best possible way if done correctly and through the right guidance.

We at Makwana Sweta & Associates are keen in catering the ecommerce space and can be reached out on Contact page or you can call us on 9819244185

MSA, leading Accounting Firms in Mumbai provides the following accounting services but not limited to

• Book keeping services
• Preparation of periodic financial reports e.g. Profit & Loss Statement, Balance Sheet, Cash flow statement, etc
• Managing Receivables and Payables account
• Payroll services
• Invoice processing and bill payments
• Budget estimates
• Ratio analysis
• MIS reports for better decision making
• Setup accounting policies and procedures
• Book keeping services

How can we help you?

• You can outsource your Accounting needs to us. We will manage your Accounts inhouse.
• We help you with your management reports which is necessary for taking better business decision.
• Help startups and business owners to setup the accounting
• Accounting health check: We do free accounts health check and provide you’re the feedback.
• We set up accounting policies and procedures for the division for its smooth function.
• Accounts is the area which should never be ignored. Your Accounting and compliance needs are completely taken care of by us. Our expert team provides the right advice for your Accounting requirements.

Cashflow report helps you understand the inflow and outflow of cash, Monthly Profit & Loss accounts helps you understand your sales and Purchases. Every business decision is depended on your accounts. Accounts outsourcing ensures that you have a professional team looking after your accounts and catering your needs.