Accounting is important for any business, Online or offline.
A thriving business model these days is Amazon’s, Fulfilled By Amazon (FBA). To cut it short, this is basically where individuals sell items on the Amazon Website, & then Amazon ships it to the customers. Of course, the sellers have to keep an eye on their money to make sure they are turning a profit. This, however, can be a very complicated process without the right tools. This is where ‘taxomate’ comes in.
The service helps ‘Fulfillment by Amazon’ & ‘Fulfillment by Merchant Sellers’ automatically transfer their transactions onto the Quickbooks & Xero accounting software. This is done by connecting the user’s FBA account with taxomate’s Amazon seller software. Subsequently, accounting for Amazon sellers involves less manual work & save lots of time.
Taxomate is available in about 7 marketplaces that Amazon is in. These are both in North America as well as in the European Union. Examples include Germany, United Kingdom, Canada & USA. This tool is especially useful for accountants working with multiple Amazon sellers. It’s also possible for the individual seller to use it if they have bookkeeping & accounting knowledge.
While security may be an issue with some apps, users of taxomate do not have to worry about such a thing. This is because when linked Amazon does not share any of the user’s credentials with the taxomate tool. In addition, one can disconnect their Amazon & QuickBooks accounts with their taxomate account any time they wish without notice.
The platform is currently in free beta. However, they have already laid out 4 pricing plans that will come into force in the future.
– This is a startup profile based on publicly available material & not a review –
Image Credit: taxomate
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