About
Finaloop’s seamless integration with Amazon ensures that your financial data is always accurate and up-to-date.
We automatically sync and reconcile your Amazon transactions, providing clear, reliable financial data. This article explains how our Amazon syncing works ensuring that your books always reflect the financial reality of your business.
How our Amazon syncing works
We pull your data through our secure native integrations with Amazon. These numbers are updated automatically in real-time and validated through a series of data accuracy and validation tests.
The Amazon data is mapped to the right accounts in your financial reports by our accounting and tax experts to give you the most accurate breakdown of your performance, including your gross sales, refunds & returns, discounts, the very long list of Amazon fees, disputes, advertising, and more. We sync all this data based on your Amazon payments report (and not your Amazon orders report or your sales dashboard). The way we built our Amazon integration allows us to give you real-time data, without being limited to the 2-week delay that many other Amazon connectors base their data on.
You can find your Amazon payments report by heading to Amazon Seller Central>click on Payments> Reports Repository.
Reconciling your Amazon numbers
The breakdown of the numbers you see in your books may be a bit different than what you see in Amazon. Here are the reasons for those differences:
We record your transactions and present your reports in UTC time, while Amazon presents reports on PST time.
We present your accounts in USD. We translate every non-USD transaction to its USD value based on the spot rate at the time of the transaction.
We present your different Amazon income and expense items according to our chart of accounts which is based on best practices for ecommerce businesses. Therefore, all numbers in your P&L are matched to your Amazon data but our categories are broken down a bit differently.
Below are the key Finaloop “translations” between your Amazon summary report categories and the Finaloop accounts they map to. Since Amazon has so many different transaction types, this isn’t an all-inclusive list.
Important update for Amazon sellers (October 2024):
Amazon recently changed the way they generate their reports and sales dashboards. Previously, deferred transactions were included as sales in the transactions and summary reports (see under the payments reports repository in your Seller Central). Now, Amazon reports sales only when these transactions are released.
Based on the recent changes, there is a timing difference for when Amazon includes certain sales data in your sales dashboard and when it's reported in your payments report. Since your payments report is also used to prepare the Form 1099-K reporting that Amazon shares with the IRS, we use the payment report as the 'source of truth' when syncing your Amazon data, and not the sales dashboard.
Finaloop account name* | Amazon summary report (main items)* |
“Sales - Amazon” | Product sales, FBA product sales, gift wrap credits, FBA liquidation proceeds |
“Shipping Income - Amazon” | Shipping credits |
“Discounts & promotions - Amazon” | Promotional rebates |
“Refunds & returns - Amazon” | Product sale refunds, FBA product sale refunds, FBA Liquidations proceeds adjustments, A-to-z Guarantee claims, Shipping credits refunds, Gift wrap credits refund, promotional rebates refund, SAFE-T reimbursement |
“Disputes - Amazon” | Chargebacks |
“Fulfillment services reimbursement - Amazon” | FBA inventory credit, Amazon Shipping Reimbursement |
“Selling fees - Amazon” | Seller fulfilled selling fees, Selling fee refunds, Shipping label purchases, shipping label refunds, carrier shipping label adjustments, other transactions fees, other transactions fees refunds, some adjustments |
“Fulfillment services fees - Amazon" With the exception of shipping-in costs for FBA inventory and inbound service fees which are included in inventory. | FBA selling fees, FBA transactions fees, FBA transactions fee refunds, FBA inventory and inbound services fees, some adjustments
|
“External stores fulfillment fees - Amazon” | FBA fees for non-Amazon sales |
“Service fees - Amazon” | Service fees, refund administration fees, liquidations fees, some adjustments |
“Advertising - Amazon” | Cost of Advertising, Refund to Advertiser |
* Please note that there may be some small differences between amounts presented under each category in the Amazon summary report to the respective Finaloop account. Such differences result from certain fees and adjustments. However, the net P&L impact of your Amazon summary report and your Finaloop P&L are all reconciled.