Accounting and GST filing made easy for Amazon Sellers

GST accounting software Zoho Books

E-commerce is an indispensable part of daily internet usage for consumers today. In India, the advent of the internet, the rise in the use of smartphones, and the entry of global players like Amazon have fuelled the growth of e-commerce. Since its inception, Amazon has seen steady 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 India for the last two years.

Given Amazon’s popularity, it is clear that Amazon provides a smooth platform for selling. But in addition to selling, a seller also has to keep accounting and taxes in mind. While maintaining proper accounts is always challenging, the recent change to the tax system in India has made calculating and filing taxes more complicated for sellers on Amazon. Considering how complex accounting and tax filing can be, a well-rounded accounting system goes a long way in easing the entire process.

GST accounting software Zoho Books

Zoho Books is GST compliant online accounting software that helps sellers on Amazon manage accounting and taxes through:

Easy inventory management
Managing your inventory is easy in Zoho Books

  • Add items and track inventory for all your products

  • Use price lists to create customized prices for new or valued customers

  • Set reorder points, place orders on time, and never run out of stock

Effortless reconciliation
With Zoho Books, banking doesn’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

Tax compliance
Make taxes less taxing with Zoho Books

  • Calculate GST effortlessly in minutes

  • Get deeper insights into your taxes with tax reports

  • File GST returns easily, and stay tax-ready all year long

Insightful reports
Convert business data into meaningful information through first-class reports

  • Generate tax reports that help you understand your taxes

  • Get a grip on your financials and come up with robust business plans using report data

  • Associate reporting tags with your products and use them to run filtered reports

Zoho Books also simplifies other essential accounting features, allowing you to manage contacts, invoices, payments, and projects in a few clicks. What’s more, as an Amazon seller, you can enjoy a special discount of 25% off when purchasing Zoho Books*.

Click here to learn more about Zoho Books.

 Already using Zoho Books?

As a Zoho Books user, you already know how simple and streamlined accounting and tax filing are with Zoho Books. Now you can bring the same simplicity to your online sales. Selling on Amazon is easy, convenient, and inexpensive. You can also avail one month of free cataloguing services through this partnership.

 

*Offer valid from January 1, 2019 to January 31, 2019. 

 

8 Replies to “Accounting and GST filing made easy for Amazon Sellers”

  1. 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 Zoho Books has been really handy however, for ecommerce it is becoming a bit confusing.

    1. 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 Zoho 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.com
      You can also call our toll free number – 18005726671. We are available Monday to Friday, 9:00 AM to 7:00 PM.

    1. 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 Zoho 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 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.

  2. Before writing or using any image in your post Zoho 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.

    1. Hi Pawan. Thanks for your comment. We do not provide an integration to amazon.in through Zoho Books. The important point we are conveying in our blog is how Zoho Books makes GST compliance and direct filing of GST returns easy for Amazon sellers. At the same time, Zoho Books also makes other aspects of accounting like inventory management and bank reconciliation easy for businesses.

    1. Hi, Manojkumar. Thank you for commenting on our blog. Regarding your query, our inventory management product, Zoho Inventory, can be directly integrated with Amazon seller portal. Zoho Inventory is also seamlessly integrated with Zoho Books, that allows you to manage accounting along with inventory management easily. Refer to this link to know more about integrating Zoho Inventory and Amazon. https://www.zoho.com/us/inventory/help/marketplaces/amazon.html
      It 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 Zoho Books. We will be glad to help you.

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