Accounting for Amazon FBA Sellers (Amazon Bookkeeping)



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Accounting for Amazon FBA Sellers (Amazon Bookkeeping)

In today’s video, we will show you how to prepare your Amazon business bookkeeping so you won’t be caught with your pants down. 👖

We will answer your top 7 Amazon accounting questions so that you can:

1. Protect yourself from audits.
2. Make wise decisions for your business.
3. Save on taxes.


00:00 How to Avoid Audits
00:54 Don’t let this destroy your business!
02:53 What is a business expense?
04:53 How to Keep Track of Business Expenses
07:01 How to Lower Your Tax Liability
07:53 How to Track Your Amazon Expenses
10:03 How to Track Your Business Income
12:07 Free Tool: jod.com/calculator
12:48 Pics or Didn’t Happen
13:32 How to Get Your Accountant to Love You
16:22 What is a 1099-K, and why is it important?
18:03 Don’t pay for ‘sales tax’!
19:47 I would have had 3x the money if I knew this!

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Video topics:
amazon accounting,amazon bookkeeping,accounting for amazon sellers,amazon fba accounting,amazon seller bookkeeping,accounting for amazon fba,how to do amazon accounting,fba accounting,accounting for amazon

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19 comments

  1. Just One Dime

    Get your free tool at
    https://jod.com/calculator

  2. 🌟🌟🌟🌟🌟

  3. Matthew Urbaniak

    Great show, although you presented basic information, you are very helpful and motivating to get on track with proper bookkeeping and staying on track. And you made it entertaining! Thanks and keep at it!

  4. As always, great !!!! Many thanks!!

  5. Donna Morrow

    Pure gold you're giving us, Seth! When you get a chance, can you give an opinion about this? I have a PL bundle on Amazon. I just noticed that there are 8 sellers in Amazon Canada, and 2 in Amazon Mexico who are selling on my listing. I am not. I am the only one on Amazon US selling on my listing. I have mixed feelings- on one hand, I'm indignant. On the other hand, they have to be drop shipping from me to fill their orders. Maybe I should order from all of them to see what they are selling, and just let them continue. I haven't had my usual sales slump for June and July, so… What do you think? Thanks. Seth.

  6. Brad Blosser

    I think there are taxes on inventory, right? And that’s Amazon inventory included. How do we track how inventory is taxed?

  7. Thanks for the video, so helpful, I've 2 questions.

    1. I see that in our profit calculations we are going along with what Amazon is saying is the expense, is there a way to check if we are being overcharged in any of the listed fees?

    2. Let's say we are calculating COGS for the past month of June, do you just add up the amount you paid the supplier and shipping costs for the month of June or do you calculate the per shipment costs. By this I mean, adding up the per unit cost of the product (which was manufactured 2 months back), adding the respective ship costs, calculating the exact time it reached Amazon and attributing the exact profit per shipment.

    I understand that the latter is tedious but it's a highly accurate COGS calculation, provided that the shipping cost is rising these days-the COGS of the shipment sold in the 2nd half June could be way higher than the older shipment which had less shipping cost. Just adding up cost of supplier product purchases in June will not reflect this.

  8. Excellent explanation and demonstration having good knowledge.

  9. Tyler S. Clark - Dream Firms

    This would help a lot of Amazon sellers!

  10. Awesome content! Accounting for non-accountants 101! Great job, Seth!

  11. Barney Rubbles

    Hi There ! one point for your viewers to keep mind of – the Amazon monthly summary report…
    …accuring the 'lag-period' to which Amazon pays-outs reimbursements – therefore requiring a line-input on both the P&L and Balance Sheet…

  12. I am still to finish your FBA course, In what section of the course is the Simple Monthly Income Tracker? Thank you for such a good video

  13. Hey Seth, how does $4845+100 become $4890 in the operating expenses? @9mins

  14. Gannam Studio

    Hi Seth, quick question. While building a new brand in the USA, few products of which are exported from china, do we need to register our brand in China too unless we sell there? Any idea? Because if any squatters in china find out that the product is selling well, will they cause any IP infringement and cause the product not to export as it has brand’s label on it and is manufactured in China.

  15. Seth as ever, awesome content. Thank you for the brilliant information

  16. Hey Seth, first of all, excellent video. Quick question: Can you provide a similar video specific for Done For You investors in Slack on this exact topic as that business model is a bit different and some of the expenses are beyond the scope of this video? Thanks for your consideration.

  17. Alexander Valladares

    Like always great video Seth ….

  18. Thank you and God Bless Sir… always a life saver

  19. Steven Fielding

    Excellent team JOD – 100% this needs to be under control for a LONG term business

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