Stress‑free Accounting for your Amazon business

Accounting for Amazon usually runs on two main software solutions: Xero and A2X. A2X organises all your transactions and sends them to Xero. Xero matches them to your bank transactions and provides neat books. This way your sales numbers and bank balance always match. At Osome, we use our own accounting software. We recognise invoices and receipts, reconcile them with transactions, and update your documents and outstanding bank balance daily. We support single and multiple currencies, show actual list of all unpaid invoices and report to you if anything document is missing.

Accounting for Amazon FBA sellers is a crucial part of business, if a bit boring. The most important thing is that every transaction, that is, any time money goes in or out, is accounted for. Amazon generates statements to reflect what you sold or reimbursed, but those do not yet qualify for bookkeeping and accounting. You have to break those statements into single transactions with relevant tax tags and match them to statements from your banks. Then you can create reports: for your management purposes (P&L, profitability, etc), and the ones you have to file for government purposes (Estimated Chargeable Income, Tax returns).

You don’t have to do it yourself (in fact, it’s probably best that you don’t). We can build these Amazon accounting services for you in a way that doesn’t demand much of your time and costs reasonably.

We upload Amazon statements, convert them into neat books using our own software, and then prepare reports. We submit government filings neatly and on time, so no nasty fines there.

Amazon uses the services of Ernst & Young (EY), an accountancy giant that has been auditing them even before the 1997 IPO. When it comes to accounting for Amazon sellers, however, this company might be way too big and expensive to hire. While choosing your accountant, make sure they specialise in e-commerce accounting, and are especially familiar with the marketplaces you use. Also check the way they build their plans. Avoid being charged by transaction volume, as you may have multiple tiny sales. It makes better sense for Amazon sellers to be charged based on the revenue.

Absolutely. We make the transition seamless on your end. We’ll get in touch directly with your current accounting service provider, take over all your financial documents, and audit them to make sure your company is compliant. We check for any loose ends with HMRC, organise historical data, and then prepare and file necessary reports. We offer up ongoing advice about relevant tax exemptions, helping you be smarter with your taxes. Now that your accounting is in good hands, you can focus on what you do best: running your business.

Our pricing is revenue based. We don’t charge on the number of transactions in your account or the number of invoices you upload. All prices are based on the financial year, not the calendar one.