E-commerce is an indispensable part of daily internet usage for consumers today. In India, the advent of the internet,ÌýtheÌýrise in theÌýuse of smartphones, andÌýtheÌýentry of global players like Ìýhave fuelled the growth ofÌýe-commerce.ÌýSince its inception, Amazon hasÌýseenÌýsteady growth in the number of sellers across its platform in India. Increasing numbers of sellers and consumers have resulted in Amazon being the most visited online shopping site in IndiaÌýfor the last two years.
Given Amazon's popularity,Ìýit isÌýclear that Amazon provides a smooth platform for selling.ÌýButÌýin addition to selling, a seller also has to keep accounting and taxes in mind.ÌýWhile maintaining proper accounts isÌýalwaysÌýchallenging, theÌýrecentÌýchangeÌýto the tax system in India has made calculating and filing taxesÌýmoreÌýcomplicated for sellers on Amazon. ConsideringÌýhow complexÌýaccounting and tax filing can be, a well-rounded accountingÌýsystem goes a long way in easing the entire process.
Ìýis GST compliant online accounting software that helps sellers on AmazonÌýmanage accounting and taxes through:
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Managing your inventory is easy in ×îв©²ÊÍøÕ¾ Books
Add items and track inventory for all your products
Use price lists to create customized prices forÌýnew or valuedÌýcustomers
Set reorder points, place orders on time, and never run out of stock
Effortless reconciliation
With ×îв©²ÊÍøÕ¾ Books, bankingÌýdoesn't have to be tiresome
- Get automatic bank feeds into your accounts and reconcile them in minutes
Skip manual data entry by setting up bank rules and putting categorization on autopilot
Manage hundreds of transactions easily with bulk actions for banking
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Make taxes less taxing with ×îв©²ÊÍøÕ¾ Books
Calculate GST effortlessly in minutes
Get deeper insights into your taxes with tax reports
File GST returnsÌýeasily, andÌýstay tax-ready all year long
Insightful reports
Convert business data into meaningful information throughÌýfirst-class reports
Generate tax reportsÌýthat help you understand your taxes
Get aÌýgrip on yourÌýfinancials and come up with robust business plansÌýusing reportÌýdata
Associate reporting tagsÌýwith your products andÌýuse them toÌýrun filtered reports
×îв©²ÊÍøÕ¾ Books also simplifies other essential accounting features,Ìýallowing you to manage contacts, invoices, payments, and projects in a few clicks.ÌýWhat's more, as an , youÌýcanÌýenjoy a special discount ofÌý25% offÌýwhen purchasing ×îв©²ÊÍøÕ¾ Books*.
Click to learn more about ×îв©²ÊÍøÕ¾ Books.
ÌýAlready using ×îв©²ÊÍøÕ¾ Books?
As a ×îв©²ÊÍøÕ¾ Books user, you already know how simple and streamlined accounting and tax filingÌýare with ×îв©²ÊÍøÕ¾ Books.ÌýNow you can bring the same simplicity to your online sales. Selling on Amazon is easy, convenient, and inexpensive.ÌýYou can also availÌýone month ofÌýfree cataloguing services through this partnership.
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*Offer valid from January 1, 2019 toÌýJanuary 31, 2019.Ìý
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Hi Aditya. I am using ZOHO books for my two companies which are into manufacturing and construction. However, my 3rd company is in retail business and we sell only on amazon. request you to please provide a step by step manual or else a video through which I may clearly see how to do entries of invoices and all. Your help will be highly as till date ×îв©²ÊÍøÕ¾ Books has been really handy however, for ecommerce it is becoming a bit confusing.
Hi Raghav. Thank you for your comment. Regarding your query on how to make entries of invoices and other payments, please follow the steps below. 1. Create the following accounts in ×îв©²ÊÍøÕ¾ Books by heading over to Accountant->Chart of Accounts. The accounts to be created are Amazon Commission (account type as Expense) and Amazon Receivable (account type as Payment Clearing). 2. Create invoices to the end customers and close the invoice by recording payment as the end customer is not liable anymore. Make sure the Deposit To account selected is Amazon Receivable. 3. Amazon provides us with the commission and other charges in a statement every month or every 2 weeks. Now we can go ahead to Purchase->Bills to record the commission and other charges as mentioned in the statement. You can select Amazon Commission as the expense account but make sure the Paid Through is Amazon Receivable while recording the payment for the same. 4. When Amazon sends us the amount, it appears in the deposits column in the bank feeds. We can navigate to the Banking module and click on the deposit amount to Categorize the transaction. 5. The amount can be categorized as a Transfer from another account and the Amazon Receivable account can be selected in such cases. 6. In case you need to take a look at the balance that Amazon owes you then please go ahead to the General Ledger report under the Reports module. The balance amount in Amazon Receivable is the amount that Amazon owes you in total at any point of time. I hope this helps you. If you need further assistance, please send us an email at support.india@zohobooks.comYou can also call our toll free number - 18005726671. We are available Monday to Friday, 9:00 AM to 7:00 PM.
hello can anyone tell me how to make entry of Amazon sales and payments?
Hi Ganesh. Thank you for your comment. To answer your question regarding making entry of Amazon sales and payments, here are the steps to follow. 1. Create the following accounts in ×îв©²ÊÍøÕ¾ Books by heading over to Accountant->Chart of Accounts. The accounts to be created are Amazon Commission (account type as Expense) and Amazon Receivable (account type as Payment Clearing). 2. Create invoices to the end customers and close the invoice by recording payment as the end customer is not liable anymore. Make sure the Deposit To account selected is Amazon Receivable.Ìý 3. Amazon provides us with the commission and other charges in a statement every month or every 2 weeks. Now we can go ahead toÌýPurchase->Bills to record the commission and other charges as mentioned in the statement. You can select Amazon Commission as the expense account but make sure the Paid Through is Amazon Receivable while recording the payment for the same.Ìý 4. When Amazon sends us the amount, it appears in the deposits column in the bank feeds. We can navigate to the Banking module and click on the deposit amount to Categorize the transaction.Ìý 5. The amount can be categorized as a Transfer from another account and the Amazon Receivable account can be selected in such cases.Ìý 6. In case you need to take a look at the balance that Amazon owes you then please go ahead to the General Ledger report under the Reports module. The balance amount in Amazon Receivable is the amount that Amazon owes you in total at any point of time. I hope this answers your question. Feel free to email us at support.india@zohobooks.com if you need further assistance. We will be happy to help you.
Before writing or using any image in your post ×îв©²ÊÍøÕ¾ should have to check. You are using amazon.in in your and talking about GST. Do you provide Amazon integration ? I think no. When you don't provide such services in india then you do not have to write about that. Just write informative article. Nothing related with those services which you do not provide in India.
Hi Pawan. Thanks for your comment. We do not provide an integration to amazon.in through ×îв©²ÊÍøÕ¾ Books. The important point we are conveying in our blog is how ×îв©²ÊÍøÕ¾ Books makes GST compliance and direct filing of GST returns easy for Amazon sellers. At the same time, ×îв©²ÊÍøÕ¾ Books also makes other aspects of accounting like inventory management and bank reconciliation easy for businesses.
Is it possible to integrate and Sync Amazon Products with ×îв©²ÊÍøÕ¾ Books inventory?
Hi, Manojkumar. Thank you for commenting on our blog. Regarding your query, our inventory management product, ×îв©²ÊÍøÕ¾ Inventory, can be directly integrated with Amazon seller portal. ×îв©²ÊÍøÕ¾ Inventory is also seamlessly integrated with ×îв©²ÊÍøÕ¾ Books, that allows you to manage accounting along with inventory management easily. Refer to this link to know more about integrating ×îв©²ÊÍøÕ¾ Inventory and Amazon. /us/inventory/help/marketplaces/amazon.htmlIt would be more helpful for us if you can tell us exactly what you mean by Amazon products in your query. Reach out to us if you have any questions regarding ×îв©²ÊÍøÕ¾ Books. We will be glad to help you.