As we did earlier this summer for eBay, we’ve now rolled out a new channel summary page for Amazon as well. While Seller Ledger has been able to import all of your Amazon sales, refunds and fees for a while, now it’s even easier to make sense of all of that detailed data.
Now, when you click into your Amazon account from your Seller Ledger dashboard, you’ll see a screen like the following:
Drill down on any payout to see the totals for each payout including every single transaction that’s included in that payout.
Amazon has a large number of transaction types, especially their fees. While Seller Ledger focuses primarily on rolling up all of those amounts to your end-of-year tax form, this new view should help you get a better sense of all of Amazon’s financial data.
While most of the major eCommerce marketplaces, like Amazon, eBay, Walmart, and Etsy have robust APIs that make it possible for us to automatically import and categorize their transactions, a lot of newer and smaller marketplaces haven’t made that investment.
Update
Since this article was originally published, we’ve released a much more flexible approach to CSV file formats. You can learn more about that here.
For some of the more popular ones, like Whatnot, Poshmark, Mercari and Depop, we’ve built a custom import tool for the transactions that they allow you to export. And we continue to evaluate other marketplaces.
But, in the meantime, we’ve recently rolled out the ability to track sales from any marketplace. You can now import order history from any online platform, so long as you can modify their transaction files to match our format. Here’s how it works:
Step 1: Download your transaction history in CSV format
Log into your marketplace and find the place to access your order/transaction history. The more detailed the report, the better. Then, download it in a CSV (comma-separated) format – a very common format for exporting data.
To upload a file with order and refund details, Seller Ledger expects the following fields:
Required:
Order Date
Order ID
Customer Name
Product Name
Quantity
Unit Price
Ship To State
Ship To Zip
Ship To Country
Optional:
SKU
Shipping
Tax
Ship To Address
Ship To City
In fact, it may be easier to simply use our sample format file, which we provide here.
Step 4: Upload the new file to Seller Ledger
Click into your newly created marketplace account from the dashboard and click the “Upload history” tab.
You’ll want to choose the “Upload orders” option on the left. Click the “Choose File” button, select the reformatted file you just created, and click Save. Seller Ledger will begin importing your order history, complete with any product, fee and refund details that are provided.
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We pride ourselves on providing the most automated accounting solution for eCommerce sellers. However, there will always be circumstances where a seller conducts business in person, or on a platform that doesn’t offer much in the way of connectivity.
Update
Since this article was originally published, we’ve released a much more flexible approach to CSV file formats. You can learn more about that here.
For those cases, we’ve rolled out improved order history tracking for off-site and cash sales.
Step 1: Create an account to track those off-site or cash sales
We just rolled out the ability to add a new type of asset account that you can use to track these sales. From your dashboard, click the “Add Channels, Banks and Accounts” button. Then, scroll to the bottom of the next screen to see the following option:
This can be a “Cash” account, or an account to track sales from other online marketplaces like Facebook Marketplace, TCGplayer, StockX and more. Just name your account and you’re off to the races.
TCGplayer accounting is now automated
Since the release of this manual asset account feature, Seller Ledger has released a direct integration with TCGplayer. Check out more in this blog post.
Step 2: Add your order details
Click into your newly created account from your Dashboard. You’ll see a new button called “Add order” in the upper right:
Clicking on that button will bring up a much more detailed transactions screen that not only lets you enter the regular information like date, customer, and amount, but will also let you record the item(s) that you sold:
If you scroll down, you will also see that we allow you to enter additional information about each order, including:
Any shipping you may have collected from the buyer
Any sales tax you may have collected (or had collected for you)
Any fees that may have been incurred (for example, by a non-connected marketplace that this order sold through)
Any shipping labels or other shipping costs you had to pay
If a part of this order was donated to charity
As a reminder, the more details you can record that are tied to an order, the better able Seller Ledger is to tell you the EXACT net profit you make on every sale.
And as a reminder, you can always use the regular “Add transaction” button to record things like payouts (remember – they are transfers), non-order fees, etc.
Want more step-by-step guidance?
If you’re having trouble figuring out how to enter data from certain non-connected marketplaces, just email us a copy of one or more of their reports (or screens) to [email protected] and we’d be happy to help.
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For those users who may have switched bank accounts, or had new credit cards issued, you likely want to keep all of the transaction history in those accounts (deleting the account would delete all of the transactions as well,) but may no longer wish to see them listed on your dashboard. Changing that is now simple.
Just go to Settings -> Accounts, where you will see the list of all of your balance sheet accounts.
Click the edit/pencil to the far right of the account you’d like to hide and you will see a checkbox to “Show on dashboard.”
Simply uncheck that box and click the Save button. That’s it. Your account, and all of its underlying transactions, will remain in Seller Ledger, but you won’t see it listed on your dashboard anymore.
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While it is important for Seller Ledger to remain simple to use, we have just rolled out some more powerful accounting features that were previously under the hood. Please note, they are all in open Beta, so please send us any feedback you have at [email protected].
Balance sheet accounts
From the beginning, Seller Ledger let you categorize your income and expenses, including the ability to add sub-categories. Now, we have provided the same functionality for balance sheet accounts, which you can find under Settings, in the new “Accounts” tab,
As you will see, any connected accounts that you have will already show up there, as well as internal accounts we created behind the scenes, like Sales Tax Due and Owners Equity.
There are a number of possible accounts you might want to add, but here are some of the more common ones we have heard:
Cash accounts for tracking cash you withdraw and spend
Sales channel accounts that we do not yet support directly
Equipment tracking accounts, for depreciable assets like computers
Liability accounts for tracking outstanding loans
Balance sheet report
In addition to exposing and letting you customize your balance sheet, we’ve also just rolled out a new Balance Sheet report, which you can find in a new sub-tab under the Reports tab.
Journal entries
And finally, the ultimate accounting utility, the journal entry, has been introduced. This feature lets you create any accounting transaction across multiple accounts/categories.
It is also the first place you will see the use of the dreaded accounting terms “debit” and “credit.” But, we assume those who intend to use this feature are familiar enough with accounting to understand these terms.
Now, remember, with great power comes great responsibility. Journal entries allow you to change your account balances in many different ways. But it is also easy to mess up your books. If you are not familiar with the use of journal entries, we recommend learning more before using this feature too much.
One caveat: we do not yet let you make journal entries that affect directly connected sales channels, as we try to keep the raw data from those channels as accurate as possible.
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Now that we’re through another tax season (for those that didn’t file extensions), we’ve released a few minor enhancements around sorting. Specifically, around sorting columns in the Income and Expense views, as well as Inventory.
Under both the Income and Expense tabs, you can now sort values based on the Amount column. Just click on the icon to the right of the column header.
Under the Inventory tab, we have also added the ability to sort results by a number of different columns. In the Purchases sub-tab, you can now sort by Date, Purchased from and Total Amount columns:
In addition, you can also now sort by every column in the “In Stock” sub-tab and the Date and Total Amount columns under the Sold sub-tab.
Keep those customer suggestions coming and we’ll keep cranking out the improvements. Just email us at [email protected]
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While we’ve had the ability to search for transactions in the Income and Expense tabs for a while now, we just expanded that functionality to connected marketplaces like eBay, Amazon, Etsy, Shopify, etc. as well as bank and credit card accounts.
Just type in the value that you are looking for. You can also combine the search with other filters like date range.
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In our continued efforts to make it easier to get data out of Seller Ledger, we just added the ability to export your Profit and Loss and Schedule C tax reports.
Just click the “Export” button in the upper right of the Filters section and Seller Ledger will generate a comma-separate (CSV) file containing the values. You will then be taken to the Exports page under Settings (which we announced a few months ago) where you can download the file you just requested:
As always, we look forward to more customer suggestions. Keep them coming by emailing us at [email protected].
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To make it easier to see trends in your business profit or loss, as well as what’s driving it, we are excited to add a new chart to the top of your Profit and Loss report, above the traditional table:
Mouse over any color on the chart to see the amount for that category, for that period.
One fun feature – if you click a category name in the legend, it will toggle that category on and off, so you can choose to isolate certain categories.
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In our ongoing efforts to streamline eCommerce accounting and bookkeeping, we’ve just rolled out the ability to invite an accounting professional to access your books in Seller Ledger.
If you work with an accountant, bookkeeper, enrolled agent, or anyone else who helps you with your accounting, it’s now quite simple to grant them access to your Seller Ledger account. Just go to the newly redesigned Settings -> Business page and you’ll see a new option to invite an accounting pro:
Just click on that button, enter the email address of your accounting professional, and they will receive an invitation to link to your account. Clicking on that invitation will allow your accounting pro to create their own Seller Ledger account, with their own login details.
What will my accounting pro have access to?
Once your accounting pro has accepted your invitation, they will be able to view all of your financial data, categorize transactions and run reports. They won’t be able to do the following:
Add or remove connected accounts, banks or credit cards
Change your billing information
Change your business name
Can I revoke access?
You certainly can, at any time.
Does this feature cost extra?
Nope. Not only does it not cost you anything, but as of right now, accounting professionals can use Seller Ledger for free. Think of them as your first “extra” user on your Seller Ledger account.
As with all new features we roll out, we welcome any and all feedback to help us improve over time. Please encourage your accounting professional to also send us feedback at [email protected].
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