1-Click Accounting for Amazon allows you to see a complete list of orders from the current settlement period:
- View orders that have been paid for or payment has been received from Amazon
- View what the expenses and fees for each order
- Keeps 100% accurate accounting by syncing the fees and refunds within a settlement report
- Downloads orders that are included within the settlement report - include missing orders
- Settlement report is posted into Xero as a deposit that must be reconciled manually within Xero
Activating 1-Click Accounting within Unify
If you have directly connected your Amazon store as a channel this feature is available within Unify. To activate this feature, click on the settings widget which will take you to the settings area and select Marketplace fees in the sync expenses area.
In the Marketplace Fees area, in the option of "Use the same settings for all sub-channels" select no. Then activate the options of Posting marketplace fees and Enable settlement posting (as shown below):
If you have multiple sub-channels within your Amazon account (as shown above) they will all be displayed, which means you can setup 1-click accounting for Amazon for each individual sub-channel within your Amazon seller central account.
Part 1: Setting up 1-Click Accounting for Amazon
Since 1-Click accounting for Amazon posts the settlement report, all orders and refunds and ensures that there is a correlation of the items in Amazon with the items in the accounting system, Unify displays those relevant data-points again in this area. You may have to readjust your core settings in context of the 1-Click Accounting for Amazon, in this area.
Step 1: Item matching criteria settings (Inventory data points)
It is very important to ensure that the SKUs or ASINs in Amazon match the item code for the corresponding item in Xero. If they don't match, they can be mapped within Unify to ensure that Unify can connect the item in the Amazon order to its corresponding product in Xero.
Step 2: Accounting settings (Transaction data points)
In the process of posting the settlement report to Xero, it will also post the corresponding orders contained within the settlement report. If you have made initial settings in the accounting settings area, you can adjust them here in the context of 1-Click Accounting for Amazon.
2a. Use the same type of transaction for all sales: Single transaction type which means the using the same type of transaction configured in the field below for all orders
2b. Select type of transaction to record sales: When 1-Click Accounting for Amazon is activated a single transaction type can be used for posting sales in Xero. If you have configured your sales to be created as different transactions based on payment method - enabling 1-Click Accounting for Amazon will override this feature for the channel are configuring
2c. Record shipping charges as line item in Xero: This creates a line item for the shipping charges within the order to display on the transaction in Xero
2d. Set the account to record shipping charges in Xero as: this should be a revenue account type in Xero
2e. Record gift wrap charges as line item in Xero: use this if your customers in Amazon frequently request the gift wrap option when creating an order. You can activate this during seasons where gift wrap options are more prevalent or you can keep it activated just in-case.
2f. Set the account to record gift wrap charges in Xero as: this should be a revenue account type in Xero
Step 3: Refund settings (Refund data points)
3a. Select type of transaction to record refund: Credit note will be selected by default to record refunds in Xero
3b. Mark credit note paid after settlement comes: this is auto checked by default by Unify
3c. Mark sales invoices as pad after settlement report is deposited by Unify:
- Yes - Invoices that are marked "Awaiting Payment" in Xero when orders are initially posted will have a payment attached when the settlement report is posted in Xero using the 1-Click Accounting for Amazon feature
- No - Invoices that are marked "Awaiting Payment" in Xero will remain unpaid and the payment will have to reconciled manually in Xero.
3d. Account to Record Sales revenue and refund: This is a bank account within Xero. If this is a bank account that is used as a clearing account to hold the gross revenue for orders - then that would be the correct account to select this this area.
Step 4: Sales tax settings (Taxation data points)
4a. All the Order amounts are: Tax Exclusive is auto selected by Unify
4b. A new line item 'Sales tax' will be added to Xero to your tax on your orders. Assign this Account name for Tax line item: this should be the sales tax which is a current liability type in Xero
4c. Set the Description as: Creating your own description for the tax line item is recommended. Feel free to write a short description of your choice
4d. Set the Account as: again this is the Sales Tax account which is a current liability type in Xero
Step 5: Things to consider
This area is just a note about the settings modifications in relation to the data that is modified in this area.
Step 6: Setting up settlement report is posted to Xero
This area should be familiar to you if you have setup the Amazon expenses and fees in this area, prior to the new 1-Click Accounting for Amazon feature release.
Final Step: Click save to retain the any new settings adjustments of the for transactions, items, refunds, taxes and settlement report handling with this feature. You will see a final confirmation upon saving and click YES to confirm your settings.