*Guest post: Christoph-Moritz Reich, Namox GmbH
Accounting and taxes is a rather vexing topic for many Amazon sellers. But it doesn’t have to be. With the right approach and the right tool, nothing can go wrong. We show you what really matters.
What do Amazon FBA sellers need to keep in mind when it comes to accounting & taxes?
An Amazon Seller has many tasks to take care of. The product listing must be constantly optimized, PPC campaigns adjusted and the product range reconsidered. And then there is also the accounting and taxes.
In terms of taxes, at least one profit calculation, one tax return and one VAT return have to be done every year. Under certain circumstances, an advance sales tax return must also be submitted to the tax office on a quarterly basis. Errors here can have extensive consequences and quickly become expensive.
Accounting is about correctly documenting all money movements of the FBA business. This includes the incoming invoice for purchased goods as well as the outgoing invoice for sold goods. Every sale on Amazon must therefore be correctly recorded in the accounts. Depending on the size of the business, this can add up to quite a bit.
Automate invoicing with easybill
Fortunately, there are suitable and automated tools as aids at this point. This is worthwhile right at the beginning of the business, because such an invoice software saves a lot of time and effort. With easybill, invoices for the Amazon FBA business can be created manually or automatically. The invoice template can be individually designed by you as an Amazon seller and thanks to an interface, shipping to your own customers can be automated and without further intervention.
As cloud-based invoicing software, easybill offers greater freedom of action than Amazon’s own invoicing service, for example. Customizations and individualizations are possible and the invoice is created within seconds – and absolutely correct from a tax point of view.
Avoid unnecessary accounting mistakes from the very beginning
Many obstacles await Amazon sellers: whether business registration, product selection or the many other processes in Amazon’s Seller Central – there is a lot to do and even more to consider. As an Amazon agency, Namox, a reliable easybill partner, knows exactly which construction sites particularly occupy FBA sellers.
With the Amazon FBA Masterclass, Namox has captured over 5 years of experience as an agency and Amazon seller in a comprehensive video course. With the Masterclass, prospective FBA sellers are supported in building their business – step by step, so that the first sales already come in during the course. Thanks to more than 80 video units, no questions remain unanswered. If there are any uncertainties, Namox and the Masterclass community are there to help and advise.
Learn more about the Amazon FBA Masterclass from Namox: www.namox.de/amazon-fba-masterclass