If you have expenses you want to track that is not automatically imported from Amazon, you can add it under Accounting > Other Expenses.
The expenses that automatically import to this page include the following:
- Removal/Disposal Fees - these are the fees only and does not include the buy costs. You will need to manually capture removal and disposal order buy costs on this page.
- 30-Day Storage Fees
- Long Term Storage Fees
- Amazon Subscription Fees
- Inventory Prep Fees
- Inventory Placement Fees
- Ad campaign fees if paid using your Amazon disbursement — fees paid using a credit/debit card will need to be accounted for manually for on this page.
These imported fees will show in InventoryLab once the payment disbursement period occurs (when you get paid for the time period covering the expense).
The page will display the following sortable columns:
You can use the Advanced Search button to view your expense transactions within a set timeframe, or a custom date range. You can export the view that you select.
InventoryLab begins with categories in place for expenses, however you may add additional categories when you add expenses.
Common categories that users have added include:
- Multi-channel fulfillment fees
- Fees to Service Providers (i.e. IL, TaxJar, AppEagle)
- Removal/Disposal order buy costs
To add an expense, click on the green + Add button in the upper right area of the Accounting>Other Expenses page. When the prompt appears, fill in the relevant details.
You can add to your categories as you create an Other Expenses transaction by entering a new one in the Category field. If the category doesn't exist, an Add button will appear to the right of the category. Click on the it to add it to your category list.
Once you fill out the remaining information, click the Save button.
This will be displayed as a stand alone transaction on the Accounting>Other Income page and will show up in the Reports>Profit and Loss under that category.
Recurring expenses may be set up by following these directions.