Amazon Seller Journal Entry Templates

Here we discuss the types of journal entries available for Amazon Seller

Bookkeep enables you to integrate your Amazon store to automate journal entry postings.

Please note that Amazon only allows us to retrieve 2 years back from the current date when importing historical financial data.

The two journal entry postings we automate with Amazon Seller are:

1. Amazon Sales Summary
2. Amazon Deposit

The Amazon Sales Summary journal entry posts to your accounting platform on a daily basis the sales from the prior day. This aims to capture the gross sales down to the net sales including discounts, refunds, etc. Additionally, this journal entry captures the various fees from Amazon. See below for an example mapping:

For certain lines in this template we also provide the option to map to subcategories, for example “fees” can be broken down and mapped to specific accounts, i.e. Shipping Expenses, Dues&Subscriptions, etc.

Note: this is not a mandatory step, and each unmapped subcategory will post to the parent category/account)

*A couple things to note for Amazon sales: you will see that we capture Sales Tax Collected and Withheld. In the USA, tax is withheld and paid by Amazon on your behalf so we recommend mapping these 2 lines to same accounts since they should net to zero. In Canada, tax is not withheld and must be paid by the Amazon Seller. Therefore, the withheld line could be mapped to an account that will later be used to pay the actual sales tax.

*For Amazon deposits, there are typically cutoff times where part of a day's sales will be deposited into a future deposit. In these cases, Bookkeep will post 2 entries in a day indicating the split of sales into two deposits. You may see Pre or Post displayed within the journal entry summary to indicate this. In essence the sales proceeds for the Pre journal entry will be received in the next incoming payout (deposit), while the sales proceeds for the Post journal entry will be received in the following payout (deposit).

The second journal entry we support for Amazon Seller is the Deposit journal entry. This journal entry captures any new deposits coming to your bank account related to Amazon Payments. Your Amazon Balance capture any sales that were processed by Amazon resulting in an increase to your Amazon Balance. This Amazon Balance is then decreased any time there is a deposit to your bank account which is captured in this journal entry. Note that payouts (deposits) from Amazon usually come into your bank account every other week (usually twice a month), unless you have special arrangements with Amazon. The Amazon Reserve Balance indicates any money withheld by Amazon between payouts, usually to cover any unfulfilled orders or potential returns/refunds. See below for an example mapping:

Note: If you have a credit card connected to your Seller account that Amazon can charge you for fees etc. if your Amazon Balance if insufficient, please map "Credit Card Charge" to that credit card account.

Also, Bookkeep is unable to retrieve historical financial data from Amazon more than 2 years back due to limitations from Amazon.

If you have any questions regarding our Amazon journal entry templates, feel free to reach out to support@bookkeep.com.