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How to reconcile invoices in Xero with incoming deposits from the sales channel

Kika Angelic

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Once you have sent a settlement to Xero you will be able to reconcile the settlement against the disbursement Amazon, eBay, Shopify or Etsy will have paid out to your bank account.

If you need guidance on how to send your settlements to Xero from Link My books read this help article.

The good thing about settlement based accounting is that when you do so the amount shown on the invoice in Xero and the amount you receive into your bank from the sales channel will be exactly the same. This makes it really easy for you (or your accountant) to reconcile your bank account.

All you need to do is locate the deposit on your bank statement reconciliation in Xero and click on the OK button, as shown below:

This will work for settlements in your home currency, so if the invoice is in GBP and your bank account is in GBP too.

IMPORTANT – If the currency of the invoice is different to that of the bank account, then follow the instructions in this article on How to reconcile foreign currency settlements.

Why are some of my settlements being sent as bills instead of invoices to Xero?

When Link My Books sends your Amazon settlements to Xero we do so in the form of an invoice (almost always). 

You may have noticed that we sometimes send your settlement (or part of it) as a bill instead of an invoice and wondered why we do that…

Since Xero does not allow negative total invoices, if you have a settlement which is for a negative amount then we have no choice but to send it as a bill instead.

Why would I have a negative invoice for a settlement?

There are two main reasons as to why you may have seen this happen in your Link My Books account.

  1. You have a negative settlement. This can occur if your Amazon fees and advertising costs are larger than your sales amount. In this case Amazon will actually charge your card on file with the settlement amount and produce a negative total settlement report.
  2. If you have a settlement that spans two months and you also have a large reserved balance by Amazon. In this case we split the settlement by month so we create two invoices but because the reserved balance will always fall in one or the other invoice it will end up meaning that one of your invoices will be for a negative total.

I hope you found this article helpful. Many Amazon sellers recently started trading stocks and crypto currencies, hoping to diversify their income, which is a very good idea with all the uncertainty which comes with the platform. For this reason, we launched a new Facebook group, Crypto Arbitrage Income (Bitcoin, Crypto, Altcoins, Blockchain, Trading) – feel free to join us and forget about the troubles of selling on Amazon for a moment!

Regarding Amazon Seller Performance, you can always participate in our Amazon Seller Performance – Friendly Advice – Worldwide group, where you will be very welcome.

If you are an Amazon Seller who needs help with any Amazon-related issues such as suspensions, listing blocks or is looking for professional assistance, please don’t hesitate to subscribe to my new OnlyFans page at: www.onlyfans.com/kikaangelic

Additionally, here you can watch my YouTube video, where I am presenting you several secret tips about appealing Amazon Seller Account suspensions (don’t be confused by the opening of the video, where I am enjoying a vacation – it’s a part of the story):

My name is Kristina Hajdukova, but I am known as Kika Angelic. I used to be the most prolific and reputable contributor on the Amazon Seller Forum until being removed and defamed. Here you can learn more about my story: My GoFundMe page seeking help from Amazon – feel free to support me! Eventually, I became the first person in the world to succeed in a defamation lawsuit against Amazon and the company had to prominently publish me an apology and pin it to the top of the whole Amazon Seller Forum, click here to see it! Regarding Amazon Seller Performance, you can always participate in my Amazon Seller Performance – Friendly Advice – Worldwide group, where you will be very welcome. If you are an Amazon Seller who needs help with any Amazon-related issues such as suspensions, listing blocks or is looking for professional assistance, please don’t hesitate to subscribe to my new OnlyFans page at: www.onlyfans.com/kikaangelic

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USPTO is swamped by trademark applications from Amazon Sellers

Kika Angelic

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The United States Patent & Trademark Office is being swamped by trademark applications (about 900,000/year, or 3x the level 20 years ago). Many of these applications are solely concerned with getting trademarks for Amazon sellers … and not just because of Amazon’s hundreds of millions of customers. Amazon’s own policies have a lot to do with it.

How so? Amazon incentivizes sellers and manufacturers to trademark their brands to join Amazon Brand Registry, which not only grants IP protection but also unlocks special marketing powers including Amazon stores, analytics, special advertising programs, and more.

Many of the brands flooding USPTO for trademark requests are Amazon sellers from China. 

Most of the Amazon brands are filing trademark applications to take advantage of Amazon Brand Registry marketing programs, and do it by following the law (even if the brands seem a little odd, like SDITLF or MUWRIL). But some FBA sellers are breaking the rules, aided by sketchy lawyers and overwhelmed USPTO staff. There was a case earlier this year in which someone from China registered GENERIC as a trademark … and promptly kicked off thousands of sellers selling generic items on Amazon.

I hope you found this update helpful. Many Amazon sellers recently started trading stocks and crypto currencies, hoping to diversify their income, which is a very good idea with all the uncertainty which comes with the platform. For this reason, we launched a new Facebook group, Crypto Arbitrage Income (Bitcoin, Crypto, Altcoins, Blockchain, Trading) – feel free to join us and forget about the troubles of selling on Amazon for a moment!

Regarding Amazon Seller Performance, you can always participate in our Amazon Seller Performance – Friendly Advice – Worldwide group, where you will be very welcome.

If you are an Amazon Seller who needs help with any Amazon-related issues such as suspensions, listing blocks or is looking for professional assistance, please don’t hesitate to subscribe to my new OnlyFans page at: www.onlyfans.com/kikaangelic

In case you are an Amazon Seller who needs help with Seller Identity Verification on Amazon, please feel free to watch my most detailed video on the subject, addressing all common questions:

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Amazon is trying to make sellers use their new ocean freight service for FBA shipments from China

Kika Angelic

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Today, Amazon e-mailed their third party sellers to promote a new service called Amazon Global Logistics (AGL) aimed to offer reasonably priced shipments.

According to the announcement, Amazon Global Logistics (AGL) offers FBA Sellers end-to-end shipping services via ocean transportation options from CN into EU and US fulfilment centres and/or SPs’ own warehouses that can be conveniently booked through Seller Central or Shipper Central. AGL shipping services includes shipment pick-up in origin, palletization (if required), export/import customs clearance, and domestic delivery in the destination country.

This is the first time Amazon started offering AGL directly to sellers. It will also include the option of shipping to your own warehouse through our Ship-to-Storage (STS) program. STS allows you to ship ocean full-container-load (FCL) cargo with Amazon Global Logistics (AGL) from China to your designated, non-Amazon storage facility.

Here you can view a screenshot of the full announcement from agl1-eu-sales-team@amazon.com:

Here is a copy of the full text:

Onboard now with Amazon Global Logistics for global ocean shipping!

Dear Seller,
 
Amazon Global Logistics (AGL) offers FBA Sellers end-to-end shipping services via ocean transportation options from CN into EU and US fulfilment centres and/or SPs’ own warehouses that can be conveniently booked through Seller Central or Shipper Central. AGL shipping services includes shipment pick-up in origin, palletization (if required), export/import customs clearance, and domestic delivery in the destination country.
 
We also give you the option of shipping to your own warehouse through our Ship-to-Storage (STS) program. STS allows you to ship ocean full-container-load (FCL) cargo with Amazon Global Logistics (AGL) from China to your designated, non-Amazon storage facility.
 
What are the benefits of AGL services
 
·       Save Time: Deliver products faster by shipping directly from SPs’ manufacturers in China to fulfillment centers and/or 3rd party warehouses.
·       Reduce Costs: Lower inventory handling costs through a more efficient supply chain management.
·       Ship with confidence: Book shipments with predictable and efficient shipping schedules at competitive rates.
·       Simplify operations: Use a single portal to create, book, track, and pay for shipments.
 
How to get started
 
There are three simple steps to get started.
 
Set up your payment method choosing the currency in which you wish to pay
The second step is to create your Importer of Record (IOR) profile. You will need to create an Importer of Record profile for each country you would like to import to. Please select the following links based on the destination country you plan to ship to; (Portal Link: UKDEFRIT,ES).
Once your IOR profile has been approved, you will be able to place your first booking. You can find our latest booking guides by marketplace here; (Booking Guide Link: UKDEFRITES).
 
Helpful resources:
Download our Getting started guide
Download our Container Checklist guide here
 
Kind regards,
The Amazon Global Logistics Team
Amazon.com | EU
agl1-eu-sales-team@amazon.com

I hope you found this update helpful. Many Amazon sellers recently started trading stocks and crypto currencies, hoping to diversify their income, which is a very good idea with all the uncertainty which comes with the platform. For this reason, we launched a new Facebook group, Crypto Arbitrage Income (Bitcoin, Crypto, Altcoins, Blockchain, Trading) – feel free to join us and forget about the troubles of selling on Amazon for a moment!

Regarding Amazon Seller Performance, you can always participate in our Amazon Seller Performance – Friendly Advice – Worldwide group, where you will be very welcome.

If you are an Amazon Seller who needs help with any Amazon-related issues such as suspensions, listing blocks or is looking for professional assistance, please don’t hesitate to subscribe to my new OnlyFans page at: www.onlyfans.com/kikaangelic

In case you are an Amazon Seller who needs help with Seller Identity Verification on Amazon, please feel free to watch my most detailed video on the subject, addressing all common questions:

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Important update regarding your Amazon FBA inventory at AFW1

Kika Angelic

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This week, Amazon e-mailed their third party sellers regarding FBA inventory stored in the AFW1 warehouse, which was damaged due to severe weather causing structural damage to that facility, forcing it to close. It is expected to remain closed until at least the end of April 2023.

According to the notice, Amazon will be soon reimbursing sellers for any lost and damaged inventory, adjusting their IPI Score or refunding storage fees.

Here you can read a copy of the full announcement:

Important update regarding your inventory at AFW1

Hello, 

Our records indicate that you have inventory at, or on the way to, our AFW1 fulfillment center. On December 13, 2022, severe weather caused structural damage to that facility and we were forced to close. We expect to remain closed until at least the end of April 2023. We understand this has affected your business and will work to provide the most up-to-date information. 

Below are other important updates for your inventory stored at AFW1. 

   1. While AFW1 is closed, we are unable to fulfill customer orders with inventory stored there. Once AFW1 is operational again, we will evaluate the condition of your inventory to determine if it is sellable. We expect the fulfillment center to remain closed until at least the end of April 2023 and will communicate further details on sellable inventory as we know more in the coming weeks. Inventory will be evaluated based on the inventory adjustments policy (https://sellercentral.amazon.com/help/hub/reference/external/G200453260). If you don’t agree with the Amazon valuation of a unit, you can file a claim using the Contact Us page in Seller Central within 90 days after we issue the reimbursement. If we determine your inventory was damaged by this incident, we will reimburse you per our FBA inventory reimbursement policy (https://sellercentral.amazon.com/help/hub/reference/external/G200213130). You will be able to track your refund by accessing your Reimbursements report (https://sellercentral.amazon.com/reportcentral/REIMBURSEMENTS/0).

   2. We will refund the storage fees for any inventory affected by this closure. Storage fees from December and January will be reimbursed by March 15. You may see storage fees associated with affected inventory from February-April, which will be refunded on a monthly basis until AFW1 is operational. 

   3. For shipments already sent to AFW1, Amazon will continue to redirect them to a nearby fulfillment center at our cost. 

   4. For any inventory that has been redirected or is currently available in other fulfillment centers, those listings will remain sellable and we will fulfill customer orders with the available units. Any new shipments will go to a fulfillment center that can currently fulfill customer orders. If stranded inventory impacted your ability to sell, we will contact you with additional information and details. 

   5. If your Inventory Performance Index (IPI) score is being affected by this closure, we will ensure your capacity limit is not negatively affected and will allow you extra capacity if necessary, beginning now and for at least 13 weeks after AFW1 is reopened. We’re aware that the stranded inventory can impact your IPI score and this incident was out of your control. We will share further details in the coming weeks to help navigate this situation.

Action requested: If you have created shipments planned for AFW1, but have not sent them yet, please delete these shipments and re-create them. A new shipping destination will be automatically assigned during the creation of the new shipment.

For additional details, go to “FAQ for the AFW1 closure”:
https://sellercentral.amazon.com/help/hub/reference/external/G5HFTYE2FWA3N7G6

We are still actively investigating this incident and will update this page and share more details with impacted sellers as we have more information. We apologize for the inconvenience, and thank you for your understanding and patience. 

The Fulfillment by Amazon team

I hope you found this update helpful. Many Amazon sellers recently started trading stocks and crypto currencies, hoping to diversify their income, which is a very good idea with all the uncertainty which comes with the platform. For this reason, we launched a new Facebook group, Crypto Arbitrage Income (Bitcoin, Crypto, Altcoins, Blockchain, Trading) – feel free to join us and forget about the troubles of selling on Amazon for a moment!

Regarding Amazon Seller Performance, you can always participate in our Amazon Seller Performance – Friendly Advice – Worldwide group, where you will be very welcome.

If you are an Amazon Seller who needs help with any Amazon-related issues such as suspensions, listing blocks or is looking for professional assistance, please don’t hesitate to subscribe to my new OnlyFans page at: www.onlyfans.com/kikaangelic

In case you are an Amazon Seller who needs help with Seller Identity Verification on Amazon, please feel free to watch my most detailed video on the subject, addressing all common questions:

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