The Best Way to Handle Amazon Seller Bank Reconciliations
The Best Way to Handle Amazon Seller Bank Reconciliations Bank reconciliation is a vital process for every Amazon seller who wants to maintain accurate financial records and avoid costly mistakes. It involves comparing your business bank statements to your accounting records to ensure that every transaction is accounted for correctly. Given the complexity of Amazon’s payout structure, fees, and numerous transactions, handling reconciliations efficiently can be challenging but necessary. Why Bank Reconciliation Matters for Amazon Sellers For Amazon sellers, reconciling bank accounts is not just about ticking off deposits and expenses. It’s about understanding the flow of funds from the Amazon platform to your bank. Every two weeks, Amazon releases disbursements that include sales revenue, after deducting fees such as referral fees, FBA charges, advertising costs, and refunds. If these payouts are not properly reconciled, it becomes difficult to track profits, identify chargebacks, or de...