How will Amazon’s new Fuel Surcharge impact your Net Profits?

Amazon’s announcement of a new 3.5% fuel surcharge is a whopper of a hit for Amazon sellers’ profits. It sounds expensive as a cost taken out of your top line, but it is even worse when considered in the context of a seller’s net profits.

Prior to the surcharge, there were already a number of different Amazon fee types that could be taken out of a seller’s revenue. Some of these fees are charged as standard monthly fees and others are charged on a per-item basis. That makes it hard to understand the costs associated with any given sale. Given the volumes and complexity, you may need an automated accounting software tool designed for eCommerce to get a true handle on what it’s really costing you to sell.

What does it cost to sell a $100 item on Amazon?

Here’s an illustrative example. Let’s take an Amazon seller with an item that sells for $100.

Inventory Cost

Often the largest cost of selling an item on Amazon is the inventory cost itself, what the seller had to pay in order to acquire the item. Let’s say they purchase it for $50 and are reselling it for $100 on Amazon. This $50 inventory cost is typically referred to as Cost of Goods Sold.

Monthly Amazon Fees

Sellers have to pay $39.99/month as a professional seller or $0.99 per item as an individual seller in order to sell on the platform. Let’s assume our seller is selling 100 items per month on the professional plan, so that monthly fee would work out to $0.39 per item sold.

If they are using Fulfillment by Amazon (FBA) they will also pay monthly storage fees for their inventory to be stored in Amazon’s warehouses. These fees go up if inventory has been stored too long, is oversized, or is dangerous. The fees also go up depending on the time of year when the inventory is being stored with October-December more expensive to handle the peak holiday volumes. Storage in January-September for standard goods might cost $0.78 per cubic foot of inventory stored, plus an Aged Inventory Surcharge starting at $0.50 per cubic foot for items stored longer than 180 days. If our $100 item takes up one cubic foot and has not been
stored longer than 180 days, it would cost $0.78 per month to store.

With these two monthly costs, we’re at a total of $0.39 + $0.78, or $1.17 in total monthly costs for our $100 item. For the sake of simplicity, let’s say the item was only stored for 1 month and this is our total FBA storage cost (though in many cases inventory must be stored longer than this.)

Per-Item Fees

Amazon charges a Referral Fee of anywhere from 8-17% depending on the category in which the item is sold, with a minimum $0.30 fee in most categories. Let’s assume our $100 item is something in the Toys & Games category, which is 15%. Our $100 item would cost $15 in Referral Fees.

FBA Fulfillment Fees are also charged on a per-item basis. These fees range significantly depending on the size and weight of the item as well as other factors. For the sake of simplicity, let’s say we have a “Large Standard” item and we’re paying approximately $5.50 to have Amazon fulfill this shipment for us.

FBA Fulfillment Fees are where the new 3.5% fuel surcharge fee have been added. We’ll hold that cost out for now and show how that impacts Net Profit at the end of this article.

Amazon Advertising Fees

It used to be enough to list your products on a well-established marketplace to drive sales, but in today’s world, it often requires paying advertising fees in order to generate visibility to those listings as well. Advertising on Amazon is sold on a Cost-Per-Click (CPC) basis and costs can range from $0.60 per click in a Low-Competition category to over $5.00 per click in a more competitive space. It’s not uncommon for a seller to pay an additional $15-$30 in Advertising to get a $100 item to sell, though they probably can’t be doing this across all their inventory and remain profitable.

In addition, there are overhead fees to advertising. Agencies to manage your advertising often charge 10-15% of advertising fees. For sponsored brands campaigns, things like high quality photography and ad creative development can be quite expensive.

For simplicity, let’s say advertising costs $5 all in for our $100 item.

Additional Amazon Fees

In addition to the standard fees listed above, there are many additional things Amazon charges for including Inbound Placement Fees, to move your inventory between Amazon Warehouses, Low Inventory Fees, when a high-velocity product becomes low in stock, Returns Processing Fees, Removal Order Fees, when you request your inventory is returned to you, Label Order Fees, when Amazon labels your products for you, and more. For today’s example, we won’t include any of these fees, but they are very real costs of doing business for an Amazon seller.

Net Profit, BEFORE the 3.5% Fuel Surcharge

What is net profit? It’s how much money you’ve made after all of your costs have been taken into account.

In our example of the $100 item sale, we’ve now accounted for the following fees:

$50.00 Inventory / Cost of Goods Sold
$0.39 Amazon Professional Sellers Fee
$0.78 monthly FBA Storage Fee
$15.00 Amazon Referral Fee
$5.50 FBA Fulfillment Fee
$5.00 Advertising Fees


$76.67 Costs

On our $100 sale, this is a Net Profit of $23.33.

Net Profit, AFTER the 3.5% Fuel Surcharge

If our $100 item has an additional 3.5% Fuel Surcharge, which is calculated on the full cost of the $100 sale, that would be an additional $3.50 in cost.

After the Fuel Surcharge, Net Profit is $19.83. If our seller was making $23.33 before, and now they’re only making $19.83, that is a 15% reduction in Net Profit.

Outsized impact on Net Margin

Your NET PROFIT will drop by 15% in this case

With razor thin margins and massive competition on Amazon already, this is a huge change.

How Can Sellers Understand What this Fee Change Actually Means for their Profits

This was just an illustrative example, and fees on Amazon are very complex. Each seller needs to truly understand their own economics on Amazon in order to know how significant an impact this change will have for them.

The most effective way to truly understand your profits on Amazon is to use an automated accounting software, designed for eCommerce, that will capture the full details of your costs of selling and roll these up to enable you to accurately view your net profit.

Seller Ledger is an automated accounting platform that was designed from the ground up for eCommerce. Sellers can link their Amazon selling account for automated importing and categorization of all Amazon revenues and fees. They can also link their bank accounts and business credit cards to import other costs and sources of revenue. Seller Ledger’s net profit feature allows sellers to see these costs aggregated and understand their net profit. Pricing for Seller Ledger starts at $10/month and there is a 30 day Free trial, no credit card required.

What Can I Do About My Net Profit?

While we can’t solve marginal cost inflation, sourcing cost inflation, tariffs or other increases in your costs, what we can do is offer a lower-cost accounting solution that helps you get full visibility to your numbers at a fraction of the cost of alternatives. We offer a solution that is significantly cheaper than classic accounting software like Quickbooks or Xero, and doesn’t require third-party connectors like A2X or Link My Books to see your eCommerce detail. Give it a try today for FREE, and see if this is a way to claw back some of your net profit.

Introducing multi-user support

As bigger companies have started using Seller Ledger, we’ve started to get more requests for provide access to multiple team members. Well, we now have that!

Like we did when rolling out access for accounting professionals, Seller Ledger account owners can grant access to other team members. The same permission restrictions apply – team members will be unable to do the following:

  1. Add or remove connected accounts, banks or credit cards
  2. Change your billing information
  3. Change your business name

To add a team member, simply go to Settings -> Business and click the button to “Add Team Member”

This will pull up a form asking for an email address. Just enter that and click “Invite”

Invite team member

That’s it. Your team member will receive an invitation to create an account on Seller Ledger to access your business books.

And, just like with accounting professionals, you can revoke access at any time. And there are no additional costs for using this feature.

Improved handling of transfers between accounts

Handling transfers between accounts is one of the most basic elements of proper accounting. In the world of eCommerce sellers, this includes payouts that get withdrawn from a marketplace account, like Amazon or eBay, and get deposited into your bank account. It also includes transactions like payments from your bank account to a credit card account. Because these transactions represent money that moves between accounts, they don’t impact your profit and loss. Making sure that they are treated properly is critical to accurate record-keeping, so you don’t end up double counting anything.

Seller Ledger does a great job of automatically recognizing transfers between different accounts and matching them. However, sometimes, due to timing issues with banks, or even potential mistakes make by customers, these automatic matches of transactions can get mixed up. To help with these cases, we’ve rolled out some improved functionality.

Match to a specific transaction

Let’s take an example of a credit card payment from your business checking account. You may have categorized it as a transfer to the correct credit card account, but it’s not showing as matched.

Bank transfer to match

To help with that, just click the edit/pencil icon next to the current “Transfer” category. It will bring up a new “categorize” pop-up with a new option to “Pick matching transactions”

Click that button and Seller Ledger will now show you any transactions that match that same amount across different accounts you have in the software. In this case, it finds the payment made on that Wells Fargo credit card.

Just select the transaction, click “Match Selected”, and you’re all set.

Choose the date to start importing transactions

Since we launched, Seller Ledger has automatically imported up to 90 days of transaction history from connected marketplaces, eCommerce platforms, banks and credit cards. This was designed to give everyone a chance to really get to see how the software works for them, on real data, during the 30-day free trial.

However, a number of customers over the years have asked for the ability to choose a specific start date. This has been most prevalent at the beginning of tax years, as customers like to start “fresh” (often after switching from more expensive, more complex solutions:)

Setting your own start date

While Seller Ledger still imports 90 days automatically, it is now super simple to go in and change, on connected-account by connect-account basis, when you would like data to import from.

First, just click on the connected accounts whose import start date you’d like to change:

Next, click on the edit/pencil icon at the top of the account view:

You’ll see a new option to choose a start date. Just pick the start date you’d like:

Click “Save” and you’re all set.

If you had any transactions prior to the new date you’ve entered, they will be deleted from the system. If you don’t want those older transactions deleted, DO NOT set a more current date than you want transactions for.

Billing limitations still apply

If you are just starting a free trial, you won’t be able to enter a date from the start of the prior tax year (or longer.)

eBay Sales Tracking

What does it mean to track your eBay sales, how should you go about it, and why should you bother to do this?

There are many reasons tracking your eBay sales is valuable. It can help you to understand how much money you are making on your eBay sales. You can better understand all the costs involved, and it will help you to get organized when you have to pay taxes on profits from your eBay sales. Most importantly, it will help you understand whether or not this eBay business is something you should continue to invest your time in and grow.

What to Track for eBay Sales

What are the key things to track for your eBay sales?  Youʻll find many of the basic elements in your reports in eBay’s Seller Hub. However, there are a few things you should be tracking and double-checking outside of those standard eBay reports as well.  This image shows an overview of the key things to track, and we’ll discuss each of these in more detail.

Sales Price

Often referred to as Revenue, this is the value of your sales that have completed on the eBay platform. To find these numbers on eBay, login to your eBay account. Go to the Seller Hub and click the Performance tab at the top. Select Sales from the left-hand menu and you will see a summary of your recent Sales. You can modify the dates for the report to select the time-period you would like to review.

Included in your Sales Price is any Shipping amount youʻve charged to the buyer as well. This counts as part of your revenue, because itʻs possible you could be making a profit on Shipping charges. If youʻre charging the customer more than your actual costs for shipping, thatʻs profit.

Item Cost

This is how much you paid to acquire the items you have sold.  eBay recently released a new feature where you can include “Your Cost” in eBayʻs Seller Hub when listing an item, though many customers donʻt want to share this information with eBay (so that eBay doesnʻt have a full view into their profits.)  This value is important to track however, so that you know how much profit you made on your sales.  Unless you’ve been selling personal items at a loss, you will need to pay taxes on the profits from your eBay sales at the end of each year.

eBay Fees

These are the fees that eBay charges as a commission on the sale.  While they may seem expensive, eBay also delivers a lot of value for these fees.  Think of the effort you would have to go to in order to advertise each item for sale on your own. Leveraging eBay’s existing audience that is already searching for what you have to sell takes much less effort.  If you want to read more on this topic, check out this blog post about all you get for your eBay fees.

Advertising Fees

In addition to the standard fees that eBay charges, you may have paid additional fees to advertise your listingsand generate increased visibility for them.  These fees will also play an important role in your total costs and your profitability.  Youʻll subtract both standard eBay fees and eBay Advertising fees from your Sales to calculate your Profit.

Taxes & Government Fees

eBay both collects and remits Sales Tax for your items.  Because they are collecting and remitting the same amount for each of your sales, this will not impact your profitability.

Shipping & Handling Costs

You will track shipping costs differently depending on whether you are purchasing your shipping labels through eBay or outside of eBay.  If you are purchasing shipping outside of eBay, you may leverage a company like Pirate Ship or Ship Station to do this.  In either case, this is an important part of your cost structure to track.  If you purchase a shipping label through eBay, the cost of the shipping label will be subtracted from the eBay payout before you receive it.  You can view a report in eBay’s Seller Hub to see your total “Shipping Labels”costs for the year.  If you purchase your shipping outside of eBay this cost will need to be tracked separately.

The actual postage is one part of your Shipping Costs, but you may have others as well.  Purchases of shipping supplies such as boxes, packing tape and bubble wrap are important to document.  In addition, if you are driving your packages somewhere be shipped, you may qualify to deduct the mileage for these trips.

Returns and Refunds

When a customer returns an item and you issue a refund back to that customer, it’s important that your eBay Sales Tracking records this transaction as well.  Depending on which reports you review on eBay, Returns and Refunds may or may not be included.  When you calculate your profit at the end of a year for tax purposes, make sure to subtract out any returns/refunds from your total sales.  This is something that can be easily missed (even on the 1099-k forms eBay issues to you). You don’t want to overpay your taxes as a result!

Additional Expenses

As an eBay seller, you will likely have additional expenses that are part of running your eBay business.  This might include materials like shelving, bins or garment racks for storage, photography equipment and lighting, and more.  We discussed driving packages to the post office above, but you might have other driving expenses as well such as going to a store to source additional inventory.  The IRS allows you to deduct mileage expenses for these trips.  You may also qualify for the home office deduction if you are using a portion of your home for your eBay business.  Track all of these expenses so that you can subtract them from your total sales to pay taxes on the smaller amount that is your true profit.

What are the Best eBay Sales Trackers?

Now that you know all the things you need to track, what is the best way to do this?  Weʻll talk through the pros and cons of some different methods below.

eBay Seller Hub Reports

The first place to find basic reports about your eBay Sales is eBay itself and the Performance reports provided in eBayʻs Seller Hub.  Youʻll need to be logged into eBay to view these.  As we discussed previously however, this is not enough to provide visibility to your full sales and expenses.

Spreadsheets

Many sellers track sales and expenses manually in an Excel spreadsheet when they are first starting out.   On the plus side, you can design a spreadsheet to track things exactly as youʻd like to see them.  On the minus side, if youʻre selling more than a small volume of goods, this becomes cumbersome very quickly however. Itʻs easy to make mistakes and miss things.  To see an example of an eBay Tracking spreadsheet, check out this one from Mark Tew, NotYourDadsCPA, which is available as a free download.

Automated Accounting Software

Automated accounting software can automatically pull in all your data from eBay, including your Sales, Shipping Costs, Fees, Returns and Refunds.  While you will have to pay for this software, the time you will save is well worth it if youʻre selling more than a small number of items. If youʻre interested to learn more about how that works, you can read about it here.  Companies such as Seller Ledger , Quickbooks and Xero can automate this process for you.  This Bookkeeping Guide for eBay Sellers includes a comprehensive review of these solutions with pros and cons of each company.

Why use an eBay Sales Tracker?

Why go to all this effort when eBay has basic reports? If you’re like most eBay sellers, doing the work to review your numbers is not the fun part of running your eBay business.  You’d rather be sourcing new items and selling!  But it really is worth it to know your numbers, and here are some key reasons to go beyond the basic reports eBay provides.

1.  Not all of your costs are captured in eBayʻs reports

As we outlined above, many costs are not captured by eBayʻs reports.  The cost of your inventory, your shipping & handling costs (including shipping materials), your mileage expenses and more cannot always be found in an eBay report.

2.  Avoid over-paying your taxes

Without capturing ALL of your costs, you are likely to overpay your taxes at the end of the year.  Even eBayʻs 1099-k reports donʻt always include all the returns are refunds that have been issued, so they may overstate your sales. Without your full set of costs, they will overstate the amount of profit you need to pay taxes on.  This is real money weʻre talking about!  Donʻt pay more than you need to!

3. Understand your Net Profit per Order

Once you are tracking all of your income and expenses, you can get an understanding of your Net Profit per Order.  This allows you to see which of your items are making you the most money.  Once you know that, you know what you want to source more of and what you want to stop selling because youʻre losing money on it.  This is how you can improve the profitability of your eBay business over time.

4.  Scale your eBay Business with Confidence

Once you truly undertsand how much money you are making, you can have the confidence to go out there and grow your business!  Aquire the right inventory and sell more so that your eBay Sales can be more than just a small side hustle and turn into a real source of income for you.

We hope youʻve found this article helpful.  Find more articles about tracking your eBay business on the Seller Ledger blog, or try Seller Ledgerʻs 30 day free trial to automate your eBay Sales Tracking today.

See your Walmart profit per order

As we have done with both eBay and Amazon, we also recently released the ability for Walmart customers to view the NET profit on each order.

Walmart profit per order

Click the “>>expand” link next to any order in your Walmart account. Under the category split totals that make up that order, you will see a new “related expenses” section that includes other fees and expenses that are tied to that order. This includes the Walmart commission charged for that order. In addition, if you purchase shipping labels through Walmart, we include that too.

Lastly, as mentioned when rolling out our Gross Profit report, if you track your inventory costs at the item level and use unique SKUs for each of your Walmart items, we will match those costs to the correct item. That, plus the other related expenses, helps you see the true NET profit for each order on Walmart.

If you are a Walmart seller who’d like this kind of visibility and automation in your accounting, give Seller Ledger a try. We offer a 30-day free trial, no credit card required.

Accounting for Etsy sales tax

While we have alluded to this in other posts, a question from a customer reminded us that we could be more explicit about sales tax and Etsy.

In a nutshell, as a marketplace facilitator, Etsy takes on the responsibility of both collecting sales tax from buyers and remitting it to the state. But, those amounts do show up in your Etsy transactions. So how does one account for them?

Sales tax is a liability…not income or expense

When sales tax is collected from a customer, it is not considered income. It becomes a “liability”, accounting jargon for “owing money to someone else.” In this case, it is money owed to the state. And that is how Seller Ledger treats the sales tax that is collected. It becomes money you owe to the state. When Etsy remits that money to the state, the “liability” gets offset.

This means that sales tax will not impact your profit and loss total, which determines your income tax owed.

How Etsy reports sales tax

Here’s where it gets a bit interesting. Other marketplaces, like eBay and Amazon, indicate that sales tax is both collected and remitted on the order. In those cases, Seller Ledger creates entries for both the sales tax collected and the sales tax paid, right in the order itself. That means that sales tax does not impact the order total, because anything collected is also subtracted out.

Etsy, on the other hand, includes sales tax in the total order amount. For example, if you click into your Etsy account from your Seller Ledger dashboard, and expand an order where sales tax was collected, you’ll see something like the following:

Notice that the total amount of the order includes the sales tax collected.

It turns out that Etsy then provides a separate transaction for the sales tax remitted. As you can see above this order, there is a separate remittance transaction for the same amount.

As we mentioned before, this doesn’t impact your profit and loss one way of the other. But it can make it harder to reconcile numbers from different places, especially when 1099s come out. And if you’re interesting in more potentials sources of confusion on Etsy numbers, check out this post.

Change the categories of Etsy transactions

While we’ve had this functionality around for a while, a recent customer email reminded us that we can always do a better job explaining how things work.

In this case, an Etsy seller wrote in and asked how she can change the category on Etsy ads from the default of “Commissions & fees” to “Advertising. And she’s not the first customer to ask this.

Fortunately, Seller Ledger makes it quit easy to make that change. Simply go to the Settings tab and click the “Customize” sub-tab. If will bring you to a screen that looks like this:

You’ll notice that there are a lot of different Etsy fees, including:

  • Generic fees
  • Listing fees
  • Prolist fees
  • Renew fees
  • Renew expired fees
  • Renew sold auto fees
  • Renew sold fees
  • Renew auto expired fees
  • Payment processing fees
  • Offsite ads fees
  • Transaction fees
  • Shipping transaction fees
  • Shipping label insurance fees

If, as our customer was asking, you wanted to categorize Offsite ad fees as “Advertising”, just click on the edit/pencil icon on the far right to be given this screen:

Then just change the category to “Advertising”, click the “Save” button and you’re all set. Seller Ledger will treat all of these transactions as “Advertising.” This applies not only to all future transactions, but all prior transactions.

What about regular Etsy Ads?

Unfortunately, Etsy does not make the fees for their “on site” ads available through their API. Learn how to handle them here.

Pro tip

You may wish to group some of these Etsy fees into more granular categories. For that, we recommend creating sub-categories, and then mapping these details fees to those sub-categories.

How does Accounting Software get data from Online Marketplaces like Amazon, eBay and Walmart?

This article will explain how accounting software providers receive eCommerce data, how safe it is for sellers to use, and how to think about choosing which provider to go with if you want to automate your eCommerce accounting.

Accounting Software providers such as QuickBooks, Xero and Seller Ledger use something called an API to import eCommerce sales data from online marketplaces such as Amazon, eBay, Walmart and Etsy. API stands for “Application Programming Interface.” They have been in existence for decades, and they are safely used all over the internet.

How Do API’s work?

Think of an API as a private way for software programs to talk directly to each other and exchange information. In addition to providing a standardized way to exchange data, most uses of APIs also include permissions to manage customer data privacy and security.

In the case of accounting software getting information from online marketplaces, the first step is for the accounting software to get approved as a reliable partner. The large marketplaces, with tons of customer data, don’t want just any software accessing their data. Once approved, each accounting software is issued what’s effectively a digital ID, which they can use to identify themselves each time they request information.

The next major step is making sure that the accounting software actually has permission to get data on behalf of an actual customer. In order to get this permission, the accounting software sends the customer to a special page to let the marketplace know what data they are permitted to share. This happens on the marketplace’s website, so no passwords are exchanged. Once the user gives permission, the marketplace sends the accounting software a token that can be used in future requests for data. Think of that token as a permission slip that the accounting software presents each time it asks for data.

Do all software providers connect with marketplace API’s in the same way?

We’re glad you asked!  No, they do not.  This is one of the big differences in the various accounting software solutions for eCommerce sellers.  Some accounting software companies connect directly to the marketplaces, others require the use of 3rd party eCommerce connectors like A2X Accounting, Link My Books and Synder. And some choose to offer both.

Below is a diagram showing the various options used by leading eCommerce accounting platforms.

Let’s talk about some of the advantages and disadvantages of each option:

Direct connection

A direct connection means that not only has an accounting platform built their own access to marketplace data, but they have also taken the time to classify that information into the proper accounts, categories and tax lines that a business needs. Seller Ledger uses this approach.

Pros

Simplicity: Fewer moving parts means less work getting set up. And the connections and data are built into the core parts of the accounting software.

Lower costs: You don’t have to pay for extra software subscriptions.

Accountability: When marketplaces change their data, or introduce new fees, there’s only one party responsible for updating the software.

Cons

Less flexible: If your accounting needs are more unique, having the ability to choose between different methods of data connection (e.g. detailed vs summary) could be valuable.

3rd Party eCommerce connectors

Using 3rd party eCommerce connectors basically means an accounting platform is outsourcing the eCommerce data collection and classification to someone else. These 3rd parties specialize in eCommerce connectivity, so it’s a legitimate way to delegate responsibility. Xero has taken this approach.

Pros

Expertise of 3rd party connectors: The leading providers have been working with eCommerce Marketplaces for year, and are very familiar with the data.

Keeps books “clean and lean”: By delegating the task of collecting and summarizing eCommerce data, you can reduce the likelihood that your traditional accounting software gets bogged down by data it was never designed to handle.

Cons

Complexity: By using what some call “middleware”, you will have more setup to get things working as desired. And because the eCommerce connections are not baked into the core product, the user experience may feel disjointed.

Cost: Needing to use a separate software system will invariably cost more.

Choice of Direct OR 3rd part connectors

Then there’s the option for maximum flexibility. Some accounting platforms build their own direct connections to leading eCommerce marketplaces, but also allow you to choose a 3rd party connection instead. Quickbooks offers this choice.

Pros

Flexibility: You can choose which option works best for your business, even doing it on a marketplace by marketplace basis if so desired.

Experience: In the case of using 3rd party connectors, these tools have been used together for many years by many sellers.

Cons

Quality and coverage: Based on online commentary, there may be issues with how well the direct connection tools are managed. And Quickbooks, as of the time of this post, only provides a limited set of direct integrations (e.g. they don’t connect directly to Walmart.) As such, you could end up with a “kitchen sink” approach.

Complexity: Again, because the eCommerce connections are not a core part of the accounting software.

Cost: If you use a 3rd party connector in addition to a multi-channel tier of Quickbooks, prices could get up there.

Conclusion

As with any decision, your choice of accounting software to use for your eCommerce business comes down to the needs of your business and your personal preference. But, regardless of which option you choose, feel confident that there lots of ways to automate your eCommerce accounting using accounting software.

Automate your Whatnot accounting with updated Seller Ledger integration

When we first launched our Whatnot integration, the only sales data available to Whatnot sellers was their Ledger history. Customers could download those reports and then upload the CSV-formatted files to Seller Ledger. Since then, Whatnot has added weekly order reports, which provides much more transaction detail, including:

  • Item prices
  • Coupon costs
  • Shipping costs
  • Commission fees
  • Payment processing fees

To take advantage of that, Seller Ledger has rolled out new functionality to automate Whatnot accounting. Customers no longer need to download files from Whatnot and upload them to Seller Ledger. All of that is taken care of.

How to automate your Whatnot accounting

In order to fully automate your Whatnot account within Seller Ledger, you only need two things:

1. You should use the Chrome browser when accessing Seller Ledger so that you can also make use of the second tool (below.)

2. Once you are using Chrome, you will want to install Seller Ledger’s custom-built Browser Extension. This extension allows Seller Ledger to automatically pull down and import the proper transaction details.

You can learn more on how to get set up properly in this support article.

Once you are properly set up, Seller Ledger will regularly access your Whatnot account, retrieve the order, coupon, shipping and fee information.