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 accounts in Taxomate match up to the columns (e.g., Product Sales, Shipping Credits, etc.) on the second page of your 1099. Before we show you, here are some tips to keep in mind to get the amounts as close as possible to your 1099-K.

Tips to matching Taxomate data with your 1099-K

• Taxomate dates Amazon.com settlements in Pacific time, the same as your 1099-K. Taxomate sets this for you when you connect Amazon.com. The account Time zone (Settings > Account details) is used only for marketplaces that have no time zone of their own. If your account was set up before 2024 and your months look shifted, contact support and ask for the marketplace time zone.

• When viewing reports in QuickBooks/Xero/Wave make sure your reports are set to accrual. If you are viewing the reports in Cash reporting, transactions will be shown in the month/year they were paid to you by Amazon (not the buyer). This may cause differences when compared to your 1099-K.

• Make sure Split settlements across months is turned on in Settings > Invoice (under Currency and months).

• We have seen cases where the 1099-K from Amazon did not match with the actual Amazon sales and settlement reports. This thread on the Amazon seller forum provides one such example. _We strongly recommend contacting Amazon and/or speaking with your accountant if this is the case._

The transaction types below may assist you in setting up your accounts to match your 1099-K. You set accounts on Accounts and taxes.

1. Product Sales

Product Sales matches with _Amazon.com Order ItemPrice Principal_.

2. Shipping Credits

Shipping Credits can be found under Amazon Shipping Income as _Amazon.com Order ItemPrice Shipping_.

3. Gift Wrap Credits

Gift Wrap Credits matches to _Amazon.com Order ItemPrice GiftWrap_ under the Gift Wrap transaction category.

4. Promotional Rebates

Promotional Rebates matches to _Amazon.com Order Promotion Shipping_ which is found under shipping income and _Amazon.com Order Promotion Principal_ which is found under promotions.

5. Sales Tax Collected

The following transaction types under Tax match to Sales Tax Collected:

6. PYOP (Amazon Pay)

PYOP refers to Amazon Pay. Taxomate does not currently support Amazon Pay. However, we do have it planned in our roadmap.