"Loss" inventory accounting

6 comments

  • Avatar
    Zac

    Hey there! I can certainly see how that would be helpful, I'll forward along your suggestion to our development team for review for potential upcoming additions!

    In the meantime, some users have chosen to use the Accounting>Other Income and Accounting>Other Expenses to manually capture their activity outside of Amazon.

    I hope this helps, and feel free to let us know if you have any further suggestions for improvements! :)

    0
    Comment actions Permalink
  • Avatar
    Walter Julias

    I use the same method for tracking sales and expenses, but then my inventory is off by a unit here or there, and if I have multiple replens, especially different prices, then I have to remember to into IL and reduce the inventory by one each time, which does not give me an accurate list of my items purchased since I have to fudge the numbers - even though I bought 12 on the invoice, I only show 10 in IL on my reports so things don't match up so well unless i have a separate sheet with all external sales.

    0
    Comment actions Permalink
  • Avatar
    Vee

    Sorry for any confusion here! We don't currently record sales or any of the fees associated with orders for marketplaces outside of Amazon's US marketplace, but we will update the inventory based on what's provided by Amazon. 

    Once Amazon reports your updated inventory to us we'll show the reduction in inventory, but you will not see this sale listed under Accounting>Sales within IL. Keep in mind that your inventory is updated every 3-6 hours in IL. If you are making manual adjustments before we've received the most recent reports from Amazon, this may be the reason for some of the discrepancies in qty you are seeing. We can't be certain of this without being able to research an instance you've run into though. If so, please be sure to use the Support option within your account to share an example as we do not discuss account specific details within the community forum. 

    If you have concerns regarding how your inventory qty is being adjusted for these orders, I would suggest reaching out to Seller Support for more details. 

    0
    Comment actions Permalink
  • Avatar
    Walter Julias

    Maybe what you are thinking isn't what I am thinking. If I get a sale on ebay, for instance, and IL updates it just shows a discrepancy between what I initially purchased and what Amazon has in stock. It's flagged as an alert. The only way to fix the alert is to go in and let IL know I bought 1 less of that item. 

    This is obviously not accurate, nor ideal. I should be able to add a row to the inventory, include a date, and input a -1 to the inventory. A comment field would be all that's needed so I could type in "sold on ebay - [order id]" and just store that as a note. 

    Instead, I have to keep changing how many items I purchased which is just messy. 

    0
    Comment actions Permalink
  • Avatar
    Walter Julias

    Actually, what would be really ideal, other than integration with other marketplaces, is a manual entry for each external sale. 

    So, I would go into the inventory for this item, and I could "Add Row" which gives me the option of "Add Purchase" or "Add Sale"
    Under the "Add Sale" it would ask for the following inputs: 

    Date, Order Number, Number of Units Sold, Sell Price, Shipping Charge, Marketplace Fees, Actual Postage

    Then this info would get added automatically into the accounting "other expenses" and "other income" automatically. 

    0
    Comment actions Permalink
  • Avatar
    Zac

    We appreciate the clarity of your suggestions! I'll get this forwarded along to the team right away! :)

    0
    Comment actions Permalink

Please sign in to leave a comment.