About A2X for Amazon
A2X makes it easy for businesses to account accurately for their Amazon marketplace sales.
With A2X’s automated Amazon settlement accounting, Amazon merchants and their accountants save time every month, avoiding the headaches caused by the complexity and volume of Amazon transaction data, and enjoying reconciled accrual accounting for Amazon sales.
A2X for Amazon + Xero
A2X loads the Xero chart of accounts to facilitate mapping of Amazon marketplace transaction types to the client’s ledger accounts. A2X can create the required ledger accounts in Xero so that it has a chart of accounts suitable for an Amazon seller, which is a valuable feature for those getting started who don't necessarily know what they need, with A2X and Xero they can always adjust it later. A2X posts summarised journals to the Xero ledger using the invoice API - they show up in Xero as ‘invoices’ - that summarise the transactions in each Amazon settlement payout. The reason for posting them as invoices is that this enables Xero’s auto-reconciliation feature, so that when the Amazon settlement payout amount appears in the bank feed, the amount posted by A2X reconciles to the cent/penny with the bank statement. This rigorous reconciliation is a key design philosophy of A2X, it always reconciles, accuracy is paramount. A2X has the ability to load past Amazon settlements, going back up to a year into the past, and to post those to Xero. This enables new A2X clients to go back to the start of their financial year and roll forward all their Amazon transactions from that point using A2X for ‘clean’ books that reconcile. A2X (from 2018) posts cost of goods sold corresponding to the sales posted in each settlement.
Once registered for A2X, customers connect to their Amazon marketplace merchant account, connect to Xero, and set up their preferred mapping of Amazon transactions to their chart of accounts, or use a provided standard mapping table. That’s all that’s required. A2X will monitor their Amazon merchant account, detect settlements, and post automatically to their Xero ledger.
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