Amazon Accounting Support

Amazon Integration FAQs (QuickBooks, Xero, and Wave)

Getting Started

Step One: Connect Your Amazon Seller Marketplace

STEP 1:  Select the Amazon marketplace you would like to connect to taxomate. You can connect through  Quick Setup  or  Settings > Connections . Marketplaces are connected and added to your account one at a time. STEP 2:   Select  Connect to...

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By Michael Schwartz

updated 23 days ago

Step Two: Connect QuickBooks, Xero, or Wave

To connect your accounting software, please select  Settings > Connections  or use  Quick Setup . Connect your account software by selecting the  Connect to QuickBooks   or  Connect to Xero  or  Wave  button. Go to Step Three

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By Michael Schwartz

updated 8 days ago

Step Three: Setup Account Mapping for Amazon

taxomate allows you to set up accounting and tax mapping so your settlements can be properly exported to QuickBooks/Xero/Wave. OPTION A. Using Recommended Mappings In order to use the recommended mappings simply select  Save  for each marketplace...

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By Michael Schwartz

updated 23 days ago

Step Four: Export Amazon Settlements to QuickBooks, Xero, or Wave

A. Settlement Export to QuickBooks or Xero Imported Amazon Settlements will show up under  Settlements  on the left menu (settlements may take some time to import). OPTION 1: Export Individual Settlements To send an individual settlement, first...

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By Michael Schwartz

updated 23 days ago

Step Five (QuickBooks): How to Reconcile Journal Entries with Amazon bank payments

Settlements can be imported to QuickBooks as Journal Entries (or  Sales Invoices ) along with a deposit, which can be matched up against your payments from Amazon. The deposit is linked to the journal entries for easy reconciliation with your...

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By Michael Schwartz

updated 23 days ago

Step Five (Xero): How to Reconcile Invoices with Amazon bank payments

Settlements are imported to Xero as Sales Invoices which can be matched up against your bank payments from Amazon. STEP 1. Find Your Invoice in Xero On the top toolbar in Xero select  Business  and then  Invoices . STEP 3. Review and Approve Your...

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By Michael Schwartz

updated 23 days ago

Step Five (Wave): How to Reconcile Invoices with Amazon bank payments

Wave limits the size of invoices, so we recommend sending invoices as Grouped by SKU or Transaction Type. This can be changed in Settings > Invoice and then reprocess your settlements. In the event, you choose to display all orders, taxomate...

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By Michael Schwartz

updated 23 days ago

Why are some of my Amazon settlements missing?

Due to Amazon API throttling, historical settlements can sometimes take up to 24-48 hours before they are automatically imported into taxomate. If you would like to upload historical settlements instead scroll down to Step 3. STEP 1: Request...

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By Michael Schwartz

updated 29 days ago

VIDEO: Quick Setup: Getting started with taxomate

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By Michael Schwartz

updated 23 days ago

VAT & Sales Tax

How does VAT work in taxomate?

OPTION 1. Amazon VAT Calculation Service: If you are using the free Amazon VAT Calculation Service, taxomate will pull in the total amount collected through the  Tax  account. If you would like to integrate taxomate with QuickBooks VAT Centre,...

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By Michael Schwartz

updated 23 days ago

Amazon VAT Calculation Service

If you have the  Amazon VAT Calculation  Services turned on in your Amazon Seller Central Account there should be a number of transaction types showing in Tax under the  Mappings  page. If this feature is enabled the separated tax lines...

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By Michael Schwartz

updated 3 days ago

Canadian Provincial Sales Tax: Getting Started

taxomate allows you to map by the Canadian provincial jurisdiction designated by the Amazon sales tax system. This feature is currently in beta. Please let us know if you have any issues or feedback. 1. Follow Quick Setup to get everything...

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By Michael Schwartz

updated 21 days ago

How do I match my Amazon 1099K with taxomate transaction types?

Every year Amazon issues Amazon.com sellers a 1099-K. The first page shows the gross sales for each month and the second page shows how Amazon calculated unadjusted gross sales. This article will walk you through which parts of the mappings in...

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By Michael Schwartz

updated 5 days ago

Reports

How do I match my Amazon 1099K with taxomate transaction types?

Every year Amazon issues Amazon.com sellers a 1099-K. The first page shows the gross sales for each month and the second page shows how Amazon calculated unadjusted gross sales. This article will walk you through which parts of the mappings in...

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By Michael Schwartz

updated 5 days ago

Inventory/COGS

How to calculate Cost of Goods Sold (COGS) on taxomate

taxomate allows you to calculate the Cost of Goods Sold (COGS) for each settlement period using an average cost method. We recommend reviewing  this article to understand how taxomate's COGS system works. Once you enable COGS (see below) a Cost...

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By Michael Schwartz

updated 23 days ago

Updating COGS after changing Default Costs

After updating your default product costs in  Settings > Default Costs , you have to select the  Apply Default Costs   button on the top of the Cost of Goods Sold tab for each settlement already imported. OPTION 1. Update Apply Default Costs for a...

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By Michael Schwartz

updated 23 days ago

Understanding taxomate's Cost of Goods Sold (COGS) feature

With Cost of Goods Sold, taxomate calculates the cost of the items you have sold on Amazon for each settlement period. taxomate sends the total amount as a summarized invoice to your accounting system. This allows you to record changes in...

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By Michael Schwartz

updated 23 days ago

Videos

VIDEO: Sending Your Amazon Settlements to Your Accounting Software

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By Michael Schwartz

updated 28 days ago

VIDEO: Quick Setup: Getting started with taxomate

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By Michael Schwartz

updated 23 days ago

VIDEO: Matching Settlements in QuickBooks Online

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By Michael Schwartz

updated 28 days ago

Configuration

Connect Your Amazon Seller Marketplace (auth token method)

In the event you are having issues connecting your account, you may want to use these steps to connect. STEP 1. Obtain Your Amazon Seller Credentials After registering for taxomate, you will first need to connect your Amazon Seller Account. Click...

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By Michael Schwartz

updated 21 days ago

What is "Show All Transaction Types"?

By default, taxomate will only display the transaction types present within your imported settlements. For example, if the transaction type  Amazon.com Refund ItemPrice ReturnShipping  is not present in any of your imported settlements, it will...

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By Michael Schwartz

updated 23 days ago

What is Mapping?

The mapping feature in taxomate allows you to match your Amazon transaction types (e.g., advertising, sales, etc.) to the Chart of Accounts in your accounting system. Your Chart of Accounts is one of the most important features of your accounting...

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By Michael Schwartz

updated 23 days ago

Why does taxomate split my Amazon settlements into different invoices?

taxomate splits Amazon settlements into 2 different invoices to match the sales and the associated fees to their respective months. Normally, Amazon settlements are paid every 1-2 weeks (15 days in most cases). This time period sometimes crosses...

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By Michael Schwartz

updated 29 days ago

What is Payable to Amazon and Successful Charge?

Sometimes you may see Payable to Amazon and Successful Charge in your settlement or in the Mappings under Pending Balance: Payable to Amazon is the amount you owe Amazon, which is usually carried over from the last settlement. Successful Charge is...

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By Michael Schwartz

updated 23 days ago

What do I do with Amazon Reserve Balances?

Sometimes Amazon withholds your payment. This is common if you are a new Amazon seller. If this occurs, your settlements may be $0. There are two instances where this occurs: Example A:   You have a $0 Amazon settlement in a single month. Example...

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By Michael Schwartz

updated 23 days ago

Can I import by SKU, transaction type, or all orders?

taxomate allows you to import your statements by grouping your products in 3 different ways: OPTION 1.  SKU: Groups together sales (principal) by SKU. This is the default setting. OPTION 2.  Transaction Types: Groups together by transaction types...

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By Michael Schwartz

updated 23 days ago

Why am I receiving a mapping error?

If you are receiving an error when trying to send your settlement to QuickBooks, Wave, or Xero, you likely incorrectly mapped your accounts and/or tax codes. Please check to see if you  correctly selected a proper corresponding account and tax...

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By Michael Schwartz

updated 28 days ago

How do I Reconcile Sales Invoices with Amazon bank payments in QuickBooks?

Settlements can be imported to QuickBooks as Sales Invoices, which can be matched up against your bank deposits.   Please Note:  We recommend using the option in Settings > Invoice in taxomate that allows you to link the sales invoice to payment...

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By Michael Schwartz

updated 23 days ago

What does "Reprocess" do? Why won't my settlements update?

After you make any changes to  Settings > Invoice  or update any of the  Mappings  you have to reprocess each settlement you would like these changes to apply to before sending to your accounting software. To reprocess a settlement go to the...

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By Michael Schwartz

updated 21 days ago