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Amazon sellers

The Best Amazon Bookkeeping Services for Sellers

Get your books handled by Amazon bookkeepers who will understand your business. The best bookkeeping for Amazon sellers, Amazon FBA, private label, and drop shipping. ​

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“Highly recommended from an eCommerce company of 17 years.”​
Jared Mitchell

Skincare by Alana

Client stories

Trusted by Amazon sellers worldwide

6 Figure Brand

Ronan Walsh

Digital Trawler

“Perfect communication the whole way through set up. Their monthly reports are exactly what I need to run my company – it’s amazing!”

7 Figure Brand

Spencer Carlson

Ballard Products

“The EcomBalance team is accessible when we have questions and they got us caught up on 6 months of bookkeeping exactly as promised.”

8 Figure Brand

Neils Olson​

Trio Beauty​

“We struggled to find bookkeepers that truly understood our business. EcomBalance has been all of that and much more. Best in the business.”​

why businesses choose us

Selling on Amazon is unique...​

That’s why you need an Amazon bookkeeping service that understands how selling on Amazon and Amazon FBA works. Accounting for Amazon fees, sales tax, and revenue is critical to knowing your numbers and growing your Amazon sales. We handle it all for you. ​

Amazon expertise

Our Amazon bookkeeping services are next level! All of our bookkeepers and accountants in-house have years of experience handling bookkeeping for Amazon sellers.

Simple, process-driven, and reliable

We're process people that like to keep things simple. We'll set your Amazon bookkeeping up so that they are powered by proven processes. ​

Fast Support & Proactive

Work with a dedicated team of Amazon bookkeepers that provide fast communication and proactive insights into improving your financials.

Commitment for the long run​

We work hard to be proactive for your Amazon bookkeeping. We develop long term relationships where you know your books are in good hands.​

Social Proof

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Amazon Bookkeeping Resources​

Find more on the EcomBalance Blog
Man and woman celebrating a successful meeting with a high-five in a bright office.

6 Traits of a Stellar Amazon Accountant and Bookkeeper

The Ultimate Amazon Bookkeeping Guide for Sellers​

Smiling friends collaborating over coffee and a tablet in a casual setting.

6 Quickbooks Online Tips for Amazon Sellers

What is Ecommerce Bookkeeping?An ecommerce bookkeeper records, organizes, and manages all the financial transactions of your online business.Ecommerce bookkeeping is the same as traditional bookkeeping, except it’s mostly digital. So, you need to integrate with online payment processors and shopping cart platforms. Thankfully, Amazon can take care of all of this.The key in ecommerce bookkeeping is to meticulously track every financial transaction. Online sales move quickly and leave no paper trail, so it can be tricky. Make sure you have records of all your sales, including refunds, discounts, and chargebacks.In ecommerce, you also need to keep your own record of inventory, including purchases, sales, returns, and damages. Then, you have to maintain a COGS sheet.Sales tax management is more complex for ecommerce businesses. You need to understand and implement the correct regulations for the regions you ship to.
Amazon’s Payment StructureAmazon initially holds the full sales price when a customer purchases a product. After about 14 days, if Amazon doesn’t see a return or chargeback, the seller receives the payment.During this processing and settlement period, Amazon deducts the various applicable fees. These are Amazon’s primary source of revenue. They include:
  • Referral fees – typically 8-15%, depending on the product category.
  • Closing fees – a fixed amount per item sold.
  • Variable closing fees – additional for certain categories for handling costs.
  • Fulfillment by Amazon (FBA) fees (optional) – for storage, picking, packing, shipping, and customer service.
  • Advertising fees (optional) – for sponsored product ads.
Impact on Bookkeeping PracticesEach sale on Amazon entails multiple transactions. This complicates things when you need to record and categorize each of these transactions accurately.If you don’t accurately track all the Amazon fees, you can’t understand their impact on your overall revenue stream. This also means that you can’t get a good picture of your profit margins. That’s essential to your pricing strategies so you can maintain profitability.
Steps to Establish Amazon-Tailored Bookkeeping
  1. Choose accounting software that integrates with Amazon Seller Central for automatic data import. Look into the tool’s user-friendliness and other useful features like inventory tracking and sales tax management. Scalability is another great feature to look at.
  2. Get a Chart of Accounts template and add in the distinct accounts you need for your:
    • Amazon income and expenses
      • Sales revenue and FBA revenue
      • Amazon fees, FBA fees, Advertising, and COGS
    • Other accounts – bank account, inventory, accounts payable
  3. Integrate your software
  4. Automate whatever you can and focus on checking for errors.
  5. Reconcile your bank statements with Amazon settlement reports weekly or monthly.
  6. Document all invoices, receipts, and proof of payments and keep backups in a secure cloud storage solution.
Essential Tool and Software Recommendations
  1. Accounting software like QuickBooks Online, Xero, or FreshBooks.
  2. Integration apps like Bookkeep, ConnectBooks, or Link My Books.
  3. Product research tools like Jungle Scout, Helium 10, or AMZScout.
  4. Keyword research tools like SellerApp or MerchantWords.
  5. Listing optimization tools like ZonGuru or Sellics.
  6. Inventory management tools like Ordoro, Extensiv (formerly Skubana), or Veeqo.
  7. PPC management tools like PPC Entourage or Ad Badger.
Make sure to check and update your bookkeeping systems and chart of accounts before the rush. Set aside more time for bookkeeping tasks, or hire a virtual bookkeeper during peak periods.Keep your transaction categories consistent and reconcile more frequency to stay on top of things more easily. Make sure you’re tracking additional expenses like advertising, promotional discounts and giveaways, and temporary hires.After the rush, analyze your bookkeeping data to check your sales performance. See where you can optimize and note best-selling products.

Integration with Online Platforms

Managing your Amazon finances can be complex,
especially when you sell on other platforms, too. It usually means having to integrate your bookkeeping software
and several online platforms to simplify the record-keeping process.

Manual transaction entries
can be time-consuming and prone to errors. Selling on more than one platform independently can lead to duplicate
entries. It can also make accurate inventory tracking difficult.

The solution is to use
bookkeeping and inventory management tools and integrate them with your online platforms. Third-party integration
apps bridge platforms and software.

Popular options include:

  • Bookkeep to connect Amazon to QuickBooks Online, Xero, or
    Zoho Books
  • ConnectBooks to connect Amazon to QuickBooks Online
  • Link My Books to connect Amazon to Xero

You can also choose an
accounting tool that has built-in connectors for popular marketplaces like Amazon. QuickBooks Online, for example,
has a connector app that’s great for smaller Amazon businesses.

High Volume Transactions and Digital Payments

Manual data entry is impractical for businesses with a lot of data to manage. More than error-prone, it all gets very tedious and time-consuming.

When you sell a lot, you need to pay close attention to inventory levels at all times to avoid stockouts and overselling. Digital payments, moreover, offer convenience, but also heighten the risk of fraudulent transactions.

We recommend that high-volume sellers invest in cloud-based inventory management and accounting software. Make sure the tools you choose are secure and integrate seamlessly with Amazon Seller Central. Automating data imports for sales, fees, and
refunds can cut the workload and error rate down significantly.

Ecommerce accounting software can manage automated workflows to:

  • categorize transactions
  • handle recurring expenses
  • Perform scheduled bank statement reconciliation

You can also set up security protocols within Amazon Seller Central and your payment processing services to fight fraud.

International Currencies
and Tax Regulations

Choose accounting software that can handle multi-currency transactions, including automatically recording exchange rates. It should also be able to automate sales tax calculation and collection based on customer location.

Especially when you’re starting out, ask for advice from a tax professional who specializes in international ecommerce. This can help you avoid issues around tax obligations and missed opportunities involving tax strategies.

Note that nexus rules can get very complicated depending on your location and sales volume in different countries. Tax treaties between the country where your business is registered and the countries you sell to can also impact tax obligations.

Daily Bookkeeping Responsibilities1. Record Sales Transactions
  • Order details – order ID, product name, product quantity, price, discounts and promotions applied.
  • Payment received – amount after Amazon fees.
2. Record Expense Transactions
  • Costs of products sold – plus shipping costs from suppliers.
  • Amazon fees, in separate entries for each type.
  • Shipping costs outside of FBA fees.
  • Advertising costs – daily spending on Amazon PPC campaigns.
  • Other business-related expenses.
3. Track Inventory Adjustments
  • Product sales – quantity sold.
  • Inventory adjustments – returns and refunds and damaged products.
Daily inventory level monitoring helps you replenish before stockouts occur and prevent costly fees for overstocked products. You can also spot slow-moving and stagnant inventory so you can strategize better.Monthly Reconciliation and ReportingProcedures Specific to Bookkeeping for Amazon Sellers:
  1. Download your monthly Amazon Seller Central sales summary and settlement reports.
  2. Reconcile Amazon data with your bank statement within the first week of every month. Investigate any discrepancies and contact Amazon if you can’t reconcile them.
    • Match your total sales recorded in your accounting software with your sales summary report.
    • Match all Amazon fees deducted from your sales with your entries.
  3. Match the total net deposit amount from Amazon with your bank statement. Investigate any discrepancies in deposit amounts or unmatched transactions. Contact Amazon if you need help with unexplained refunds or chargebacks.
  4. Generate a reconciliation statement in your accounting software when all discrepancies are resolved.
Generating Useful Amazon Seller ReportsUse Amazon’s built-in reports for sales, fees, inventory, and customer metrics. You can also create custom reports in most of the top accounting software tools to analyze specific areas of your business. We recommend looking into:
  • Sales performance – overall sales volume, total number of units sold across all products, average product price, and sales growth trends.
  • Profitability – gross profit, Amazon fees, and profit margin
  • Inventory – average levels, turnover, and stockout rate.
  • Marketing and advertising – total spend, ROAS, and marketing channel performance.
  • Customer metrics – order conversion rate, customer acquisition cost, and customer reviews and feedback.
Keep looking for areas where you can improve using these data insights. Optimize pricing, marketing campaigns, and inventory management. Keep an eye on your net profit margins and adjust your strategies to increase your margins.
  • Don’t confuse sales numbers with Amazon deposits after fees, or forget to properly categorize them.
  • Note that Amazon’s date range summary reports don’t account for disbursement schedules and fees.
  • Don’t forget to track all costs associated with acquiring products.
  • Never mix personal and business finances.
  • Don’t neglect international currency fluctuations, tax implications, and record-keeping for different regions.

Starts at $399/month​

Monthly Bookkeeping

We get all of your Amazon sales, fees, and other transactions integrated into Quickbooks Online or Xero using Link My Books so that it’s plug and play, no matter where your current books are at.​
By the 15th of every month, we’ll send your Amazon Profit and Loss, Balance Sheet, and Cash Flow Statement so you can make smart decisions while growing your Amazon business. ​
Sign up get started today
“Their monthly reporting is top notch. I loved the charts and the KPI comparison sheets!”​
David Koves
R2G Digital

One time upfront cost

Clean Up and Catch Up​

We can help you get your Amazon bookkeeping up to date for an amazing price. Get in touch with us and we’ll provide you a custom quote for our Clean Up and Catch Up service. Once they’re up to date, we’ll take over from there and keep them perfect for you!​
Learn more

“Efficient, proactive & trustworthy. Working with EcomBalance has been such an amazing experience.”

Michael Lebhar

Sellcord

Monthly financial statements​​

We provide you with a detailed Profit and Loss, Balance Sheet, and Cash Flow statement by the 14th of every month. ​​

Tax filing and preparation​​

We prepare all of your monthly reports so that they are 100% tax compliant and ready for year end taxes.​

CFO services​​

Planning to sell? Or just want strategic financial advice? Work directly with our Amazon bookkeepers for monthly advice.​

Catch Up services​​

Behind on your Amazon bookkeeping? No worries! We’ll get you caught up in no time for a reasonable price. ​

Inventory bookkeeping​​

We keep your Amazon inventory records up to date multiple times throughout the year so you can see how much you have in inventory.​

Amazon fees

We understand selling on Amazon — and how to properly classify their fees so you know your numbers accurately.​

Sales tax ​

We work with you to understand the Amazon sales tax obligations you have selling in different states and countries..​

Custom Amazon solutions​

Have other Amazon bookkeeping services you need? Sign up and set up a call to chat with us about your unique needs.

Want an Amazon bookkeeping service that fully understands your Amazon business? We’re here for you!

You wouldn’t have a general writer that doesn’t know about Amazon create your product listings, right? So, shouldn’t your bookkeeper know Amazon as well?

Want an Amazon bookkeeping service that fully understands your Amazon business? We’re here for you!

You wouldn’t have a general writer that doesn’t know about Amazon create your product listings, right? So, shouldn’t your bookkeeper know Amazon as well?

Monthly financial statements​​

We provide you with a detailed Profit and Loss, Balance Sheet, and Cash Flow statement by the 14th of every month. ​

Tax filing and preparation​​

We prepare all of your monthly reports so that they are 100% tax compliant and ready for year end taxes.​

CFO services​​

Planning to sell? Or just want strategic financial advice? Work directly with our Amazon bookkeepers for monthly advice.​

Catch Up services​​

Behind on your Amazon bookkeeping? No worries! We'll get you caught up in no time for a reasonable price. ​

Inventory bookkeeping​​

We keep your Amazon inventory records up to date multiple times throughout the year so you can see how much you have in inventory.​

Amazon fees​​

We understand selling on Amazon -- and how to properly classify their fees so you know your numbers accurately.​

Sales tax ​

We work with you to understand the Amazon sales tax obligations you have selling in different states and countries..​

Custom Amazon solutions​

Have other Amazon bookkeeping services you need? Sign up and set up a call to chat with us about your unique needs.

Get in touch

Speak with us

Still have questions? Schedule a call with one of our founders, Nathan Hirsch and Connor Gillivan, to learn more about EcomBalance and how it can help your eCommerce business.

Schedule a phone call
Request a callback

Results

Hear what our clients have to say​

We treat your business as if it were our own.

Alex Schlinsky

Prospecting on Demand

The entire EcomBalance team have been a pleasure to work with. Having clarity on my numbers has been immensely valuable!

Chris Meade

The Founders Club

Best bookkeeping service I’ve ever used. Super diligent, easy to work with, and very fast! Has saved me thousands and also just the mental clarity of knowing its done the right way. 

Michael Sovie

Cold Call RX

We were constantly behind on our books, so thankful for the EcomBalance team that keeps us up to date! Great value!

Luke Hyde

Drive Digital Advertising

EcomBalance has been great to work with. Nothing but satisfied. They always answer my questions in a timely manner, they are always on time with delivering reports, and the reports are very detailed.

spencercarlson
Spencer Carlson

Ballard Products

The EcomBalance team is accessible when we have questions, and they helped us get caught up on 6 months of bookkeeping exactly as promised. I expect this company is here to stay — and we will stay with them!

Jared Mitchell

Skincare by Alana

Highly recommended from an eCommerce company of 17 years. We’ve had a great experience with the EcomBalance team.

Bookkeeping for Amazon sellers done right!

See what it’s like running your business with expert eCommerce bookkeepers and accountants. Try us for free — we’ll cover one month of books so you can see what it’s like working with us.
Get A Pricing Estimate Today!

FAQ

Frequently Asked Questions

Is Bookkeeping the Same as Accounting?
Contrary to what some might think, bookkeeping and accounting are not the same. Bookkeeping is all about tracking and recording your daily transactions.Meanwhile, accounting takes these records and provides a detailed financial analysis — providing insights into your financial performance, tax obligations, and growth strategies.
If you’re running an Amazon or eCommerce business, you’re likely aware that keeping track of every transaction can be taxing. You likely need bookkeeping services if:
  • You’re spending more time on your books than growing your business.
  • Your transaction volume is increasing and you’re struggling to track sales, fees, etc.
  • You lack confidence in the accuracy of your financial records and their readiness for tax season.
  • You want a better understanding of your cash flows or your profit margins.

We offer one service. On-time, accurate monthly bookkeeping with great customer service. We charge you on the 1st and books on the 15th of each month. We do not offer additional services such as tax, sales tax, CFO services, AR/AP, etc.

You can grab a sample of what you get each month here.

First and foremost, our Amazon bookkeeping services are expert level. We cater to eCommerce businesses specifically selling on Amazon, Amazon FBA, Shopify, Ebay, Etsy, Walmart, etc.Second, we truly care about the success of our customers and we go above and beyond to develop strong relationships with all of our customers. No customer is just a number with us. From the start, we invest the time to get to know your eCommerce business so we can handle your books properly. Then we ensure you have a strong relationship with your eCommerce Bookkeeping team and can reach them at any time with questions and concerns.Finally, we look to be proactive finding opportunities for our customers to save on expenses, capitalize on market opportunities, and grow as smart as possible. We’re all about the customer experience and work tirelessly to make sure our customers are happy with us as their bookkeeping partner.
For eCommerce businesses, sales and COGS are reported on an accrual basis. Link My Books (the tool we use to connect with eCommerce marketplaces and processors) imports all sales and COGS data under accrual basis accounting.We don’t offer a service to accrue expenses and other accounts since that would cost significantly more time and money (and is unnecessary for most businesses).If you are not an eCommerce business, our sister company AccountsBalance does bookkeeping on a cash basis.
We require the following for getting started:
  • Electronic transaction and expense access (i.e. access to your selling channels, banks, credit cards, etc.)
  • No commingling of personal expenses
  • A 100% moral business — we don’t work with businesses that aren’t moral.
We give all new clients a free month of bookkeeping.  We will do your first month free, but if your business requires Catch Up or Clean Up work, we will include that in the upfront cost. We’ll make this clear upfront when we provide you with your custom pricing quote.
Yes, but it’s not always ideal. Both require different skill sets — bookkeeping focuses on maintaining accurate records, while accounting interprets financial data for planning your tax strategy and increasing profitability.While one person can do both, it’s more efficient to have dedicated experts in each area.
Yes, investing in specialized Amazon bookkeeping software is a wise choice for Amazon sellers. These tools often integrate smoothly with Amazon, allowing you to import sales, transactions, and fees directly.Plus, they automate these transactions — saving you hours of work and increasing the accuracy of your bookkeeping.

About us​

Why Trust Us at EcomBalance?​

Hey! We’re Nathan Hirsch and Connor Gillivan, Founders of EcomBalance. We created the business in 2021 after seeing a huge gap in bookkeeping services for eCommerce businesses. We sold $25 million on Amazon with our own eCommerce business and saw how difficult it could be to find a good bookkeeper that truly understand the eCommerce space. We knew there had to be a better way!

We also built FreeUp, a successful eCommerce freelance marketplace, from $0 to $12M ARR before being acquired by The HOTH in 2019. We’ve worked with 1,000s of eCommerce businesses over the years.

With EcomBalance, our mission is to help 1,000 eCommerce businesses have better bookkeeping and understand their finances better. ​

Free resource

Download our Sample Financial Reports

Get a look at what you’ll get working with EcomBalance. A sample monthly financial report for an eCommerce business — income statement, balance sheet, & cash flow statement.