Payments from Amazon.de and Amazon's invoice

Hi
I receive payment from Amazon.de. every month I also receive Amazon’s invoice for their fees.

But those fees are deducted from the money gathered on my Amazon’s money account (on my seller account). Fees are deducted from there.

So let’s say my sale was €200. That amount is deposited on my Amazon’s account. £€0 fees were deducted. I receive €170 to my Current Account and got an invoice for €30 from amazon. How do I record the payment of that invoice?

Regards

You would treat it the same way as a merchant account (like PayPal, GoCardless etc).

Take a look here:
http://community.quickfile.co.uk/t/accounting-for-income-from-a-payment-service-provider/8870

1 Like

Thank you

Please correct me if I’m wrong.

In my Amazon’s case I have to create for Amazon following:

  1. Merchant account (it will mirror gross payments from my real customers to my Amazon’s “account”),
  2. Amazon’s Supplier Account (entity that issues Amazon’s Fee invoices, that will be paid from the Merchant Account)
  3. Amazon’s Customer Account (I will group all my real customers under this account).

Let’s say that my gross sale on Amazon was £120 and the Amazon’s commission fee was £20.
So I will issue a sale invoice (£120) to Amazon’s Customer Account, create new payment from Amazon Customer Account to Amazon Merchant Account. That payment will be tagged to £120 invoice.

Then I will create purchase invoice for commission fees of £20 (for Amazon’s Supplier) and will pay it from Merchant account.

Also £100 that was paid by Amazon to the bank account I enter as a debit on the Merchant Account and tag is as a transfer between accounts (From Merchant to Current Account).

Is that all correct?

Regards

Sounds correct to me :slight_smile:

Thank you for your help and advise.

So my last question would be:

Because I use Currencies Direct’s (FX Broker) collection account for all my EUR payments from Amazon I will have to create Merchant account for CD too?

that means that money will have to be transferred from Amazon Customer to Amazon’s Merchant (from Merchant Account Amazon fee will be paid), then to CD Merchant (CD fees will be paid from there) and from CD Merchant to Current Account in EUR?

If your Amazon receipts are coming into an FX account you’d need to also define this EUR account on QF.

I would seriously look at getting a bookkeeper, it will save you a great deal of time.

http://community.quickfile.co.uk/t/payments-from-amazon-de-and-amazons-invoice/9005/3?u=tomasz_mickiewi

Thank you

I have set up everything but came across a statement period when I have sold one products and refunded 2 so the balance was minus €93 (I have started that period with €0.00 balance).

Obviously non payment was made that month and I only been charged that €93 from my credit card.

So now what shall I do?

Just transfer money between accounts (from credit card to Amazon Merchant Account) and then to Amazon Customer Account?

So would that be a refund?

Tom