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

• Amazon settlements are set to the UTC timezone, while Amazon.com 1099-K reports are in PST/PDT. Please make sure your timezone is set to America/Los Angeles in Settings > Connections for the Amazon US marketplace. This will ensure transactions are set in the correct month/year.

• 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 is turned on in Settings > Invoice.

• 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.
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1. Product Sales

Product Sales matches with Amazon.com Order ItemPrice Principal.
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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.
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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.
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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.