UK LTD company accounting
Hi all, looking to hear from anyone running with a LTD company in the UK regarding transaction reconciliation and the disconnect between that and what I’d expect to have in my accounts.
When it comes to recording and reconciling the Amazon account activity within my accounting portal for the company bank account (eg Quickbooks, Xero etc), the only transactions that would be recorded through that bank account are outgoings for purchasing from suppliers and then ‘profit’ payments back in from Amazon.
PPC spend, fees and orders wouldn’t be visible on the business bank account, as it’s all done within Amazon Seller Central. I’m used to any income and expense going through the businesses account and each being reconciled individually.
The reports in the tax document library wouldn’t give the detail required without a lot of manual work, which led me to looking at feeds / integrators. I assume that’s what most people are using?
A2X seems to be the leader for Amazon accounting integration. Does anyone have experience with this?
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