How To Run Year End Inventory Report For Amazon FBA

I am not a tax adviser and this is not tax advice.  Please consult your CPA

With that said, generally all businesses need to know the value of their inventory at year end to provide to their tax preparer.

This is a simple thing to do in Seller Central.  You basically just run a report.

This needs to be done late December 31 or early Jan. 1 ( so basically log into Seller Central and run the report before you head out to your New Years Eve party)

You don’t have to do anything immediately with the report, you just need to run it at that time to show the value of the inventory you have at years end.

Here is a video on how to run the report:

The basic steps are:

Go to “Reports”,  then select “Fulfillment.”.

Click “Amazon Fulfilled Inventory”, then click “Request Download”

After it is complete, download it to your computer.

It is a .txt file that is hard to read.  You should open it up in Excel ( or Open Office or Google Drive ) and rename the file and save it in a safe place.

Here is a really good detailed post on what to do:

http://www.fulltimefba.com/how-to-run-end-of-the-year-inventory-sales-reports-for-tax-purposes/

 

How To Calculate A True Inbound Shipping Cost

Inbound shipping to the Amazon warehouses are a part of your COG. Many times you end up paying more than you think to ship an item in to the warehouse because of dimensional weight.

Dimensional weight is basically how much room the item takes up regardless of weight ( think cubic inches).  Most people have the basic knowledge that big, light items cost a bunch to ship but they don’t usually take it much farther than than.  Depending on the product, this “hidden” cost could total wreck your profit margins.

You could manually calculate this but there is a new Chrome extension that can easily do it for you. ( actually this extension has 2 uses. It was designed to help you determine the dimensional weight of shipping boxes.  You would want to put at least the dimensional weight worth of product into every box you are shipping in to maximum your shipping costs)

I made a video that explains this better and shows how to use it when you are sourcing to make better buying decisions


You can get the Chrome extension by going here:

http://flippingtools.com/

Sourcing From Amazon To Sell On eBay

Amazon is a really big retailer and as such, they are a good source of products to resell on eBay. They are really no different from Walmart or any other big box store when to finding product to resell. Well actually, they are better.

First you can shop on line, which is a big plus. Second, they deliver it right to you door. Third, the products are new ( they don’t have the clearance box wear or tags to be removed) And finally, you can use online tools and alerts to be notified when Amazon is in stock or lowers the price on a product.

In the video below, I show an example of how you can source from Amazon and exactly the products sells for more on eBay ( usually FBA is considered the best place to get the highest sales price, but not this time)