Reconciling Reports: Amazon Vs. InventoryLab
So how do I check InventoryLab’s numbers and make sure they match Amazon?
To reconcile numbers from Seller Central to InventoryLab, you will need to login to Seller Central and visit Reports>Payments>Date Range Reports. You will want to run a summary report for any given month or timeframe where the reports are completely reconciled in InventoryLab.
Once you generate the report, you need to download the PDF file and open it. You only need to be concerned with finding your gross profit, so there are only 3 totals to be concerned with in terms of reconciling your InventoryLab numbers from this report.
You will want to take the Income Total + Sales Tax Total – Expenses to determine your gross profit for any given month.
Once you know your gross profit totals from the Amazon payments reports, you’ll want to compare that number with InventoryLab Gross Profit. To find that, you will subtract your Amazon Related Expenses from your Amazon Related Income. This information can be found under Reports>Profit and Loss:
If the two gross profit figures between InventoryLab and Amazon Payments reports are off significantly, please check to make sure you have the following manually accounted for in InventoryLab (service fees and removal orders became available through the API and were automatically imported by IL beginning in Jan 2015):
- Optional FBA Service Fees that you may have opted into (Inventory Placement Service, FBA Label Service, FBA Prep Service) (must be manually entered prior to 2015)
- Removal Order Fees (must be manually entered prior to 2015)
- Optional Loan Payments/Fees
- Advertising campaign costs —- These will be automatically accounted for from any settlement reports occurring after May 24, 2016 if you have selected to have the costs deducted directly from your Amazon disbursement
- “Other transaction fees” line on your Amazon Date Range Report
- Nothing outside of Amazon FBA only is included (Multichannel sales, other marketplaces, etc.)
- Marketplace Facilitator Tax (automation of this coming soon)
A good rule of thumb is to not concern yourself with total profit reports for any given current month until all of your sales for that month show as reconciled. Once a month is fully reconciled, your net profit should be final for that month and should not change beyond that point.
Once a paid subscriber, you are able to request your sales and expense data be synced to your InventoryLab account at no extra cost. For more information on this, please visit Importing Historical Sale and Expense Data
Need more help with this?
Don’t hesitate to contact us here.