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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4474
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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If i am amazon seller how is it better to record my sales?

Customer Question

If i am amazon seller how is it better to record my sales?
Option 1- all monies amazon gives me when fees are reduced and shipping costs is also not included anymore only total net sales.
Option 2-total gross sales and enter all fees and shipping expenes a well
Submitted: 11 months ago.
Category: Finance
Expert:  Rakhi Vasavada replied 11 months ago.

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

The correct method would be Option 2. You will record gross sales and deduct your costs so as to arrive at net sales.

This will also help you separately keep track of your direct costs as well.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,

Customer: replied 11 months ago.

Is there a beneft for recording ecpenses fees?

Expert:  Rakhi Vasavada replied 11 months ago.

Dear Friend,

Hello and welcome again. Thanks for your reply.

No, there is no direct benefit, but it is PROPER method of accounting which helps you track your expenses properly.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,