Monday, January 30, 2023

How To Keep Track Of Amazon Sales

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How To Create An Amazon Sales Tracker With Google Sheets

How to Keep Track of Sales on Amazon KDP
  • create your own Amazon sales tracking tool
  • pull Amazon sales data by SKU or ASIN
  • track sales by day, week, month or any other period you need
  • feed and automate your sales dashboard
  • copy a free Amazon sales tracker spreadsheet to your account

all within Google Sheets. Youll look like a genius in front of your team.

Use the Gorilla ROI sheets addon to start automating your processes.

Quick Links

Get Monthly Sales Into The Spreadsheet Tracker

Getting monthly sales numbers is the same process.

If you do it manually, you have to adjust your dates to the start and end of each month, export the data and then compile it again into a monthly column.

To do it automatically, use the formula =GORILLA_SALESCOUNT.

  • Create a header row in the format YYYY-MM
  • Use the formula =GORILLA_SALESCOUNT
  • This will pull the monthly sales for the YYYY-MM that is entered into cell D1
  • for the US market
  • bulk load for SKUs in A2 to A100
  • for all sales status

In this case, when the month ticks over and it becomes 2020-03 the headers are updated which the formulas will detected and then also start pulling data for 2020-03.

This way, the tracker is fully automated and all you have to do is focus on the numbers and making decisions of what to send and order.

Why Is Accounting And Bookkeeping Important For Fba Businesses

Accounting and bookkeeping are the foundation of a solid . This ensures that you know your numbers and can keep track of cash inflows and outflows properly.

Without a solid foundation in place, you are making your life much harder than it needs to be. It is like trying to beat an escape room game with a blindfold on. You might get lucky and get out quickly. Or, you might be crashing into a lot of walls.

When you run into problems, this can range from cash flow shortages, late payments to suppliers, or payroll problems.

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Identify Your Most Profitable Items

Your most profitable items are your cash cows and you want to treat them just as richly as theyve been treating you.

Analyze your selling reports to identify your profitable items by looking at sell-through rate, profit margins and price trends, and then bring in more to keep maximizing your return on investment. Make sure you keep a good stock of your hot items.

Best Inventory Management Software Of 2022

How to Use the Amazon Seller App to Keep Track of Sales ...

Keeping track of your inventory from manufacturer to warehouse to point of sale can be a complicated process. With as much as $1.1 trillion in cash being tied up in inventory at any point in time, this supervised flow of goods needs to run like clockwork to keep your customers happy and your profit margins healthy.

Luckily, plenty of new inventory management software has entered the market, helping supervise and automate this complex process.

Inventory management tools help businesses keep track of order fulfillment, purchase orders, sales, incoming stock, and product levels so that they can seamlessly run operations. Like ERP systems and CMMS software, it gives you a 360-degree view of your business operations in one SaaS tool.

But thats not all.

This guide will cover the best inventory management software to try this year based on features, pricing, ease of use, pros, cons, and more.

Lets get started.

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How Much Does Keepa Cost

Keepa costs 15 per month, which is a little less than $17 per month as of October 2019. This is for their premium plan with all of their features. They do have a free plan that provides certain info, but doesnt cover everything we talked about in this post. And we arent getting paid to say this, there arent any affiliate links for Keepa in this post, were just sharing some of the details on a tool we believe can help you in your business.

This is a very inexpensive tool for your business when you consider the data it gives you access to. You should have no trouble getting a positive ROI on this investment, as it gives you access to data that ensures your buying, pricing and research decisions are the best they can be.

Although this product was completely free up until early 2019, you shouldnt even think about looking for a substitute product or a way to do the same research without paying for the subscription. The cost to not use the software is too great!

What Is The Cost Of Goods On Amazon

The cost of goods sold is an expense. On Amazon, it is an accounting principle matching the cost of an item and its sale. With the help of this metric, you can track your revenue and profitability in a specific month. It helps you better manage your inventory.

The cost of goods includes Cost of Goods per Unit, Supplier Shipping Cost Per Unit, and Miscellaneous Cost. The cost of the product is deducted from the value of your inventory and applied against the revenue from the sale, for the calculation of the gross profit. This happens only in the case when you sell that product.

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Track Your Stores Performance

QuickBooks makes it easy to generate reports which means you can monitor your cash flow more efficiently so you can make informed business decisions. If you need to check to see if you hit your sales goals for the month, QuickBooks runs a report so you can view that data instantly with the click of a button. Once the goal is reached, you might want to order more inventory.

Or, if youre still short, you might want to wait. These reports help you make smart decisions for their Amazon businesses. You can even create a budget using last years data, or you can create a budget from scratch.

In addition to helping manage your spending and budgeting efficiently by using concrete data to influence your decisions, QuickBooks provides incredibly valuable insight that helps improve your approach to marketing in order to boost sales on Amazon.

Do customers from a certain region buy more products? Do they sell more of some products during certain seasons? Do customers buy one product at a time, or do they tend to buy in bulk? QuickBooks makes it easy to analyze this type of data, empowering you to improve your sales and grow your Amazon stores bottom line.

How To Manually Track Sales On Amazon

Amazon Seller for Beginners: How to Track Amazon FBA sales

The most accurate way to track the sales of Amazon products is by monitoring the inventory level But how do you do that without currently selling the product yourself?

With any product, you can add 999 units to your cart. This is called the 999 cart method. very original right?

Once you update the cart it will show the number of units the seller has in stock

As you can see in the example above, this seller only has 754 units in stock

Next, check back every day at the same time to see how the inventory levels are decreasing. This will show you exactly how many units were sold each day

Now, this wont work on every single product You may run into a couple different scenarios

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Your Amazon Business Is Now Setup For Success

  • A2X with QuickBooks or Xero your business will have accurate sales, COGS, inventory, and other financial data
  • Sales Tax Analytics track your sales tax exposure by getting at least quarterly reports from Sales Tax Analytics
  • A sales tax expert and/or sales tax automation software when your sales tax liabilities are significant in multiple states, sales tax experts will help you make strategic decisions for your sales tax compliance. Using an expert along with sales tax automation software will also help automate the complex process of sales tax compliance

Now, best of luck in building your successful Amazon business. What an awesome world of ecommerce and technology we live in!

What Information Does Keepa Provide

Keepa provides data on an Amazon items sales rank, price history, new offer price, used offer price, Amazon offer price, and total number of offers, as well as information on top-selling products and top-ranked sellers.

The list goes on and on, and your ability to navigate this software can dramatically increase your chances of finding good quality products that will sell quickly and for your expected ROIs.

Even though we are going to walk through many of the uses for this software in this guide, keep in mind that this is not a complete list. I recommend taking the better part of a day and really deep diving into this software both on product detail pages with the extension and with the lists on the Keepa website so that you know how to navigate the data efficiently and can call upon it when you need to evaluate products in the future.

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Inventory Management Skills Are Required

Inventory management skills require constant refinement on Amazon, whether its actively addressing soon-to-be stale inventory or rebalancing products based on changing customer preferences.

While I see most sellers ramping up inventory levels for the holiday shopping season, few sellers stock up enough products to cover most of January as well.

Often this leads to unnecessary stock-outs caused by higher-than-expected demand in December or inadequate time to replenish in early January when your suppliers are closed for the holidays.

Either way, I like to see sellers planning their holiday shopping inventory levels in such a way that they potentially overstock a little bit for January and February, thereby giving themselves some breathing room during those busy months.

Such an approach is especially relevant for products that are expected to continue driving meaningful sales after December.

Automated Amazon Accounting Solutions

10 Best Amazon Inventory Tools To Keep Track Of Stock ...

It doesnt matter how big or small your business is, theres no need to manage Amazon accounting and bookkeeping by yourself. One of the best things you can do for your business as far as Amazon bookkeeping goes is to use an automated solution to better gather, analyze, and manage data.

One great solution for this is to use a combination of taxomate which posts income and costs of goods sold from Amazon to QuickBooks or Xero. That combination will collect almost all of the accounting data needed to do business for you.

Maybe you arent good at managing numbers on your own. Or you dont like the idea of having your own Amazon bookkeeping. Or maybe you just don’t just trust anyone to do it for you. Using automated solutions is a great way to easily keep accurate records.

Automated solutions also give you the benefit of accuracy and speed. taxomate easily compiles reports into QuickBooks and Xero and helps to keep track of all of your money effortlessly.

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Best Amazon Inventory Tools To Keep Track Of Stock & Sales

When youre entering the Amazon market, you have to be aware of the various issues that youre going to face. Chief among them is logistics.

Sellers often have no idea how to keep track of stock inventory. Most of them are not acquainted with Amazon inventory software.

Little do they know that these tools can serve as complete Amazon inventory management systems.

In fact, these so that sellers dont run out of stock and their sales are not affected.

View Beautiful Graphs Charts And Interfaces Depicting Key Seller Metrics

Access easy-to-understand visual depictions of important metrics such as gross revenue, net revenue, and net profit margins with FeedbackWhizs Financial Data Visualization tool.Personalize Amazon seller data with beautiful graphs charting your most important Amazon selling metrics always available at your fingertips.

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Amazon Sku Example #: Sku Arranged Based On The Importance Of Variables

For example, a product titled Premium All-Natural Boar Bristle Beard Brush-Real Wooden Handle will have an SKU like PR-AN-BB-BB-RWH.

This SKU identifies the key attributes of the product and arranges them in the order of their importance. The essential elements come at the beginning of the SKU section. The others come towards the end of the SKU section.

How To Track Sales And Price Drops On Amazon

Sellerboard Review – How to Keep Track of your Amazon Profits

Eric Ravenscraft has nearly a decade of writing experience in the technology industry. His work has also appeared in The New York Times, PCMag, The Daily Beast, Popular Science, Medium’s OneZero, Android Police, Geek and Sundry, and The Inventory. Prior to joining How-To Geek, Eric spent three years working at Lifehacker. Read more…

Amazon adjusts prices on its products all the time. If you have time to wait for a good deal, you can track prices on stuff you want using a web site called CamelCamelCamel, and its browser extension The Camelizer.

CamelCamelCamel keeps a record of price changes for over 18 million products on Amazon. This is particularly helpful if you want to buy something that frequently goes on sale or that changes price often. Just plug in the URL of the product you want to track, and youll see if now is a good time to buy it or not, based on its pricing history.

If you dont want to pull up a second website to search for every item you want to buy, you can downloadThe Camelizer extension for Chrome, Firefox, and Safari. This lets you access CamelCamelCamels data while youre browsing Amazonjust click the Camelizer icon in your tool bar or paste the URL on the site to see the pricing graphs.

Whether you prefer to use the site itself or the extension, there are a few things you can do with CamelCamelCamels data. Lets start by looking at those graphs.

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Qty To Ship Quantity To Ship

The last column to round out the logic section of the spreadsheet is to create a column that lets you know how many units need to be shipped to meet your inventory threshold.

In my example, I have alert threshold set to 25 days as indicated in the INPUTS sheet.

A value in the QTY to Ship appears when the AMZN Inv Days Left column is less than the threshold alert level .

The QTY to Ship is then calculated to display how many units you need to ship to stock up for 30 days.

QTY to Ship = Av30DayUnitsSold - TotalAvailable

Its as simple as checking how many units are available at Amazon, then subtracting it how many were sold the last 30 days.

If you have 100 units at Amazon, and you sold 300 units in the last 30 days, then you should send in 200 units.

QTY to Ship = 300 100 = 200 units to ship

If you need to ship more units than 30 days, then Av30DayUnitsSold has to be changed to be Av45DayUnitsSold.

A shortcut formula to do this is:

QTY to Ship = Av30DayUnitsSold x 1.5 - TotalAvailable

Since 1.5 x 30days = 45 days, you can multiply the last 30 days units sold by 1.5 to get an estimated last 45 days sold.

This way, the QTY to ship would now be the total units to reach 45 days of inventory at Amazon.

With all this, the final result of the inventory logic sheet has a nice, clean table with the key data points we need to make decisions without getting overwhelmed.

Stay Compliant At Tax Time

Every eCommerce entrepreneur has their own risk tolerance. However, when it comes to taxes, it is generally better to be safe than sorry.

For example, if your business is based in the U.S, the IRS can make you pay fines and even garnish your wages, take control off of your personal assets, and throw you in jail for major offenses.One of the biggest headaches for Amazon businesses is navigating sales tax. Figuring out where you have nexus, and how much sales tax you need to collect can be a daunting process. You dont want to do this manually. Thats why apps like TaxJar or Avalara can be game-changers, especially as your Amazon business grows past $1 Million in annual revenue.

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How To Keep Track Of Your Amazon Fba Financials: Managerial Accounting Cash Cycle And Unit Economics

When you think of a Fulfilled By Amazon business, what comes to mind?

Is it product sourcing? Suppliers? Logistics from the manufacturer to the Amazon warehouse? Marketing? Listing optimization?

All of the above are important, but they are also insufficient if you lack an understanding of your business financials.

Your Amazon financials are like the central nervous system of your business. You can spend thousands of dollars on Amazon Pay-Per-Click campaignsbut if your unit economics arent profitable, most of that money will be wasted.

Thats why when we think about Amazon FBA, first and foremost, we think about numbers.

Account Closure / Termination

Tracking Amazon FBA Inventory and COGS in Excel

Under severe circumstances, Sellers will get kicked off the Amazon marketplace, and their accounts will be terminated.

It could take months to get the final disbursement from Amazon and to get FBA inventory returned to the seller. Even worse, the seller wont ever be able to return to Amazon again under the same or other seller.

It is rare to hear about Amazon changing its mind on terminated seller accounts once terminated, youre gone for good. Circumstances resulting in termination can include actions like trying to cheat Amazon customers, repeated failure to explain counterfeit product accusations, demonstrated attempts to file false feedback against competitors, or efforts to collude with other sellers on Amazon.

As most of these activities are actually illegal, its certainly understandable why Amazon seeks to keep its marketplace free of such poisonous influences, for sake of customers, other sellers, and Amazon.

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