One of the largest online markets in the world is Amazon. Today, a lot of companies offer products online, and the majority of them have chosen Amazon as their top e-commerce destination. A company can see significant growth and profit by selling on Amazon. But this only occurs when a business follows all the correct procedures for verifying payments and settling accounts. With all the varied fees Amazon charges for each order and the various data it provides, including payment reports, tax reports, return reports, reimbursement reports, etc., the Amazon the USA marketplace reconciliation process is a pretty unique one. Additionally, when it comes to verifying the invoices or payments made by Amazon with the bank and making sure the amounts are as promised by Amazon. This work is complicated and time-consuming.

Cointab offers a unique solution for this situation. An incredible technology created by Cointab makes all the tedious and time-consuming data handling duties quite simple. All you need to do is input the data into the software, which will quickly create the needed results in an easy-to-read manner. With a little tweaking, the software can also adapt to any sort of data, saving businesses from having to change how they manage their data. Therefore, a Company only needs to have its financial team read the output, voice concerns with Amazon, and get any inaccuracies addressed.

How is Amazon USA different from Amazon India?

First and foremost the difference between Amazon USA and Amazon India is the difference in the customer base. Amazon USA uses the domain (amazon.com) while Amazon India uses the domain (amazon.in). The customer base for Amazon USA is at a global level. Hence transactions are recorded in dollars, which is the most common currency for transactions worldwide. Compared to Amazon India, Amazon USA has a few different reports. The reconciliation process is executed using this information.

Reconciliation process

Reports Required for Reconciliation

  • Amazon All Order report
  • Amazon MTR Report
  • Amazon Disbursement Report
  • Amazon All Return report
  • Amazon FBA Return report
  • Amazon Reimbursement Report 
  • SKU master
  • Bank Statement 

Payment Verification

The first step of reconciliation is making sure the payments are tallying in the reports. This is important as a vendor can know if the payments from Amazon itself have been done accurately and without any error. For this, first, we create a two-level summary of the order report, the first is based on order id and SKU and the second is based on unique order id (Amazon order summary).

In this order summary, amazon’s first level of verification will be done. This order summary will be mapped with the Disbursement report (payment report) and MTR report based on a unique order id, where the expected amount from the MTR report will be verified against the Disbursement report.

The result is displayed as follows:

Total Unreconciled Amount

Transactions that have inequalities and don’t match up upon comparison are recorded here.

Reconciled Orders

When the transaction amounts in both reports match up, they are recorded here.

Less Payment Received from Amazon

Less payment received from Amazon is recorded in the case the transaction amount in the disbursement report is less than the amount in the MTR report.

More Payment Received from Amazon

The transactions where the amount in the disbursement report is higher than the amount in the MTR report.

Bank Settlement

After the Payment Verification, the software verifies whether the transaction settlement is received accurately in the bank account or not. For this, the software links the Settlement report and bank statement and verifies transaction amounts regularly. This helps a merchant know how much settlement he is receiving from time to time and if he is receiving an accurate amount or not. Sometimes due to errors settlements are not received in the bank, the software also highlights such transactions where the payments are pending or not received.

The result is displayed as follows:

Total Transactions

The Total Amazon transactions in the Bank statement.

Reconciled with Amazon

Transactions whose amount matches the settlement report.

Less Settlement Received

Orders where the amount in the Bank statement is less than the amount in the settlement reports.

More Settlement Received

When the Order amount in the Bank statement Is more than the amount in the settlement report it is recorded here.

Missing in Settlement Report

For any transaction where the settlement amount reflects in the bank statement but is not found in the settlement report.

The automated reconciliation software made by Cointab does Amazon USA marketplace reconciliation with great ease and accuracy. As shown above, the results are easy to read and generated without any waste of time or errors.  The results can also help the merchant fix errors or raise disputes for missing or fewer payments. Start using Cointab now and verify all the reports and transactions, know your business transactions better than anybody else and save money and time.

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