Specialist Bookkeeping Services for Amazon Sellers in Newfoundland
Amazon’s marketplace is a powerful sales engine, but its financial complexity can hide your true profit. KevinCPAs are Newfoundland’s experts in Amazon seller bookkeeping. We specialize in decoding Amazon’s complex fee structures, managing FBA costs, and handling multi-currency sales, giving you the accurate financial data needed to optimize your listings, control your costs, and grow your NL-based Amazon business profitably.
The Unique Financial Challenges of Amazon Selling
Amazon’s ecosystem creates specific accounting hurdles that can make profit tracking a nightmare without the right systems in place.
Managing Complex Amazon Fee Structures
We decode and categorize the dozens of different Amazon fees—referral fees, FBA fulfillment fees, monthly storage fees, long-term storage fees, and advertising costs—so you understand exactly what's eating into your margin.
Tracking FBA Costs and Inventory Reimbursements
We track all FBA-related costs and, crucially, ensure you are credited for any reimbursements due from Amazon for lost or damaged inventory, a common source of lost revenue for sellers.
Handling Multi-Currency Transactions and Conversions
For sellers on Amazon.com (US) or other international marketplaces, we accurately handle we accurately handle foreign currency transactions conversions, and the resulting exchange gains or losses in your books
Our Amazon Seller Bookkeeping Services
Amazon Seller Central Integration and Reconciliation
We use A2X to automatically fetch your settlement reports and post perfectly summarized transactions to your accounting software. This reconciles perfectly with your bank deposits and finally makes sense of your Amazon payouts.
FBA Fee Analysis and Cost Optimization
We provide detailed reports on your FBA costs, helping you understand the true profitability of your FBA vs. FBM offers and make data-driven decisions about your fulfillment strategy.
Inventory Performance and Aged Stock Reporting
We help ensure your accounting software reflects your inventory value and can generate reports that help you avoid long-term storage fees and make informed restocking decisions.
Return and Reimbursement Tracking
We track customer returns and reconcile them with Amazon reimbursements, ensuring your inventory and cost records remain accurate and that you recover money you're owed.
Newfoundland Amazon Seller Expertise
Understanding NL Business Requirements for Online Sellers
We ensure your financial practices meet the standards for businesses operating in Newfoundland, even if 100% of your sales are to the US or other provinces.
Managing Provincial Tax Compliance for E-commerce
We ensure your books are perfectly structured for HST reporting, correctly accounting for sales to customers within Newfoundland and Labrador.
Handling International Shipping and Customs Costs
For sellers importing inventory into Canada, we track all costs, including duties, taxes, and customs brokerage fees, ensuring they are properly added to your inventory cost basis.
FAQs for Newfoundland Amazon Sellers
Seller Central reports are great for operational data but are accrual-based and don't include all your business expenses (like your cost of goods, offline advertising, or software subscriptions). Proper bookkeeping gives you a complete, cash-based view of your entire business's financial health.
We track your Amazon PPC spend as a direct advertising cost. By analyzing this alongside your sales data, we can help you calculate your Advertising Cost of Sale (ACOS) and understand the true ROI of your campaigns.
We recommend the cash basis method for most small-to-medium sellers. This means you recognize income when Amazon deposits money into your bank account and recognize expenses when you pay for them. This simplifies tracking and gives a clear picture of cash flow.
We calculate COGS based on the cost you paid to manufacture or purchase your inventory, plus any inbound shipping or duty costs. When a unit sells, that cost is moved from your Inventory asset account to your COGS expense account, matching the cost with the revenue.
Not at all. We can handle multi-currency accounting. We'll track your income and expenses in both CAD and USD, converting them at the appropriate exchange rates for accurate Canadian dollar reporting.