As a Xero Partner who specializes in ecommerce and online businesses and specifically Amazon Sellers, we could not provide the value we offer without a few key cloud technologies: Xero.com and A2X.
A2X connects to Amazon’s seller API service to import all of the transaction data then turn that data into an invoice for each Amazon deposit or settlement statement. A2X breaks out the gross sales, shipping charges, consolidates the dozens (literally dozens) of Amazon fees, and the sales tax included in the settlement statement. When the invoice is created, it is mapped to the appropriate chart of account item so your costs are applied properly as income, expense, sales tax liability. Using Xero’s reconciliation process, it is a few clicks to apply the payment and reconcile the invoice.
A2X’s capability is unique in that it maps to the Amazon Settlement statements and matches exactly to the money deposited into the ecommerce businesses bank account. They even split invoices for settlements that span the end of the month so you have accurate financials by month for their Amazon sales.
I prefer the A2X approach by providing a single invoice per settlement statement compared to many other Amazon to accounting integrations. Most of these push in every order into the Xero and is an issue because it creates lots useless data, contacts, invoices and exceeds Xero’s daily data limits. This causes more work for the business owner or bookkeepers to manage and doesn’t provide the same level of detail that A2X provides.
A2X works across the Amazon marketplaces around the world, including Amazon.com (USA), Amazon.ca, Amazon.jp, Amazon.uk (including the EU countries). Then Xero’s amazing multi-currency functionality kicks in, and when the invoices are posted in the main currency, Xero automatically enables applying the payment made in another currency to the invoice. Xero handles the currency conversion based on the date and time of the payment. It’s really slick and only needs a couple clicks before everything is done.
A2X understands how Amazon works and is building solutions that help ecommerce sellers keep track of their finances easily with Xero. A2X has a platform that will support accountants who are working with multiple ecommerce clients. They have built these tools for their own ecommerce and export business and are committed to providing solutions that enable online businesses to be more efficient and successful.
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