White & Black Chartered Accountants has been the first accounting firm in Australia to be accredited as an A2X accounting expert. As a specialist accounting firm for Amazon FBA sellers, A2X is one of the cloud tools we use so that our clients have timely and accurate financial data at their fingertips. Having up-to-date financial reporting provides the foundations to a successful FBA business and will allow you to scale and grow your Amazon business more profitably.
What is A2X?
A2X acts as your link between your Amazon Sellers Account and your Xero accounting file. When Amazon creates a new settlement, A2X will automatically fetch it, crunch the data and generate the transactions in Xero.
A2X will generate a summary of the income and expenses from Amazon and allow you to analyse the data in aggregate or view details by SKU, Product Type or group sales by country. You’ll also have greater oversight on your Amazon Seller fees and FBA fees.
When you receive the settlement payment from Amazon you will easily be able to reconcile the bank receipt to the A2X settlement posting in Xero.
Why we love A2X?
We use A2X together with Xero to automate much of the accounting work for Amazon FBA Sellers. These two applications create the essential accounting infrastructure for any serious FBA seller who wants to understand their business.
As a quick summary of how A2X can help your FBA business:
• Removes the hassle of having to summarise complex reporting from your Amazon Sellers account
• As the A2X link between Amazon and Xero is automatic, the data is more accurate and removes the risk of mistakes being made
• Gives you the right level of data for your sales tax reporting across multiple jurisdictions, such as UK VAT and Australian GST.
• The summary data that A2X provides is useful to understand how your FBA business is performing – so that you can make timely decisions to fine tune your business.
• This will allow you to grow and scale your FBA business globally.
How an A2X accounting expert can help you?
The initial setup of A2X and Xero for an Amazon seller can be complex and you want to make sure it is set up correctly to save you from future frustration. As accredited A2X experts and Amazon accounting specialists, White & Black can implement A2X together with Xero painlessly so that it’s ready to go.
We can then show you how to get the most from the two systems and how best to use A2X and Xero to help drive your Amazon business.
For those FBA sellers who want to focus purely on running their business, we provide the full range of accounting services to remove bookkeeping from your workload. We find this works best for Amazon sellers who want regular reporting to help them make decisions but without the distraction of having to run the accounting systems themselves.
Contact us to discuss how as an A2X accounting expert we can help you implement A2X and Xero in your FBA business.