Welcome to Amazon Accounting Simplified Review course!
Are you struggling to navigate the complex world of Amazon accounting? Do you find yourself overwhelmed by spreadsheets, financial statements, and tax obligations? Look no further! In this comprehensive review, we’ll delve into the remarkable course by Anna Hill, “Amazon Accounting Simplified,” designed to equip aspiring and established Amazon sellers with the necessary knowledge and skills to conquer the financial challenges of running a successful e-commerce business.
What is Amazon Accounting Simplified a bout?
Anna Hill’s “Simplified Accounting for Amazon” is a meticulously crafted course that aims to demystify the intricacies of accounting within the context of Amazon’s unique ecosystem. With carefully curated content, this course offers a step-by-step guide on how to streamline your financial operations, maintain accurate records, optimize profitability, and ensure compliance with tax regulations. Whether you’re a novice or an experienced seller, this course covers everything you need to know to master Amazon accounting.
Who is Anna Hill?
Anna Hill is an eCommerce seller and CPA. Anna has over 20 years of experience as a CPA with a background in forensic accounting and traditional accounting services.
Anna has been selling online (eBay and Etsy) for 10 years and has been selling on Amazon for 3 years. She is currently building a Private Label brand and is sourcing outside of the United Stares including recent buying trips to The Netherlands and India.
She is the founder of a free Facebook group focused on accounting for ecommerce sellers. Her group has over 6,000 members and is called Accounting We Will Go. Her deep understanding of the challenges faced by e-commerce entrepreneurs led her to develop this exceptional course, sharing her knowledge and expertise with aspiring sellers worldwide.
How Amazon Accounting Simplified Work?
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What will you receive when you participate in Amazon Accounting Simplified?
Upon enrolling in “Simplified Accounting for Amazon,” you gain access to a treasure trove of valuable resources. The course is divided into several modules, each focusing on a specific aspect of Amazon accounting. Let’s take a closer look at what each module entails:
1: Organize your Amazon E-Commerce business with QuickBooks Online
- Explore the benefits of using QuickBooks Online (QBO) and learn how to utilize its features effectively.
- Get insights into the PayScale Online Test Drive feature and learn how to choose the right subscription plan.
- Discover recommendations for cloud storage and filing systems to keep your documents organized.
- Understand how to gather and format your data for seamless integration with QBO.
- Learn essential strategies to keep your accounting plan on track.
2: Setting Up QuickBooks Online Bank Feeds and Historical Data
- Customize your QuickBooks account names for better organization.
- Edit account names in the Chart of Accounts to accurately reflect your business structure.
- Add new accounts and sub-accounts in QBO to categorize your transactions efficiently.
- Utilize account numbers in QBO for streamlined tracking and reporting.
- Clean up your Chart of Accounts to ensure accurate financial records.
- Learn how to connect your bank and credit card accounts to QBO for automatic transaction imports.
- Import older transactions manually into QBO for comprehensive historical data.
- Manage connection settings and learn how to disconnect accounts if needed.
3: Establishing Opening Balances
- Understand the importance of setting up accurate opening balances.
- Learn how to use the Opening Balance Sheet Template provided.
- Enter opening balances in PayScale Online to establish starting financial positions.
- Gain insights into reconciling opening balances with account reconciliations.
4: All About Categorizing Transactions in QuickBooks Online
- Explore the Banking Window in QBO and understand its functionalities.
- Differentiate between adding vendors and customers in PayScale Online.
- Learn the distinctions between adding, matching, transferring, and undoing transactions.
- Discover batch actions such as accept, exclude, and modify for efficient transaction management.
- Understand the difference between excluding and deleting transactions.
- Master the art of splitting transactions in PayScale Online.
- Harness the power of rules to create consistency and efficiency in categorizing transactions.
- Learn how to categorize gift cards effectively.
5: Managing PayPal and EBay Sales in QuickBooks Online
- Connect the PayPal app to QuickBooks Online and understand its advantages.
- Differentiate between the PayPal app and the Bank Feed feature in QBO.
- Categorize PayPal and eBay sales along with associated fees accurately.
6: Amazon Sales and Other Sales
- Utilize the Amazon Sales Template provided to manage your Amazon sales efficiently.
- Understand how to handle unavailable balances, chargebacks, and Amazon loans in QuickBooks Online.
- Record Amazon deposits accurately in QBO for seamless tracking.
- Learn how to record deposits from other sales channels.
- Gain insights into Amazon sales and fees accrual.
- Understand the implications of the Amazon 1099-K form and its significance.
- Learn about sales tax collected by Amazon and how it is remitted to you.
7: Cost of Goods Sold
- Discover how to find and record cost of goods sold (COGS) using InventoryLab and QuickBooks Online integration.
- Learn alternative methods to calculate and record COGS if you are not using InventoryLab.
- Understand the importance of tracking inventory expenses within Amazon Seller Central.
- Explore scenarios related to expired, lost, damaged, sold, or donated inventory.
- Gain insights into the differences between cash-based and accrual-based accounting.
8: Reconciling Accounts
- Navigate the reconciliation window in PayScale Online.
- Master the process of reconciling PayPal transactions.
- Learn how to reconcile bank and credit card accounts effectively.
- Correct reconciliation changes when necessary.
9: Reviewing Work and Financial Statements
- Review your work using the Transaction List by Vendor report.
- Gain insights into reviewing the Balance Sheet for a comprehensive financial overview.
- Understand how to review the Profit & Loss (Income Statement) to assess your business’s performance.
- Explore the Profit First method, including an overview, example, and template, to optimize your financial management.
Pros and Cons of Amazon Accounting Simplified
Like any comprehensive course, Amazon Accounting Simplified has its own set of pros and cons that need to be considered. Let’s explore both sides of the coin to help you make an informed decision:
Pros of the Course:
- Expert Guidance: Anna Hill’s extensive experience and in-depth knowledge ensure that you receive top-notch guidance throughout the course.
- PRIVATE FACEBOOK GROUP: You will have access to a private Facebook group where you will be supported by an incredible peer community of Amazon Resellers just like you
- 1 ON 1 COACHING SESSIONS: You have the option to purchase four 1 on 1 coaching sessions to walk through any of your business-specific questions that arise after the course. Use your 4 sessions anytime
- Comprehensive Coverage: From accounting basics to advanced financial concepts, the course covers all aspects necessary to excel in Amazon accounting.
- Interactive Learning: The combination of video lectures, exercises, and interactive resources keeps the learning experience engaging and enjoyable.
Cons of the Course:
- Intensive Content: The course delves into complex financial concepts, which may require dedicated time and effort to fully comprehend.
- Limited Personalization: While the course offers valuable insights, it may not address specific circumstances or unique business situations
Pricing Amazon Accounting Simplified
The pricing for course reflects the immense value it delivers to Amazon sellers. To obtain detailed information about the course pricing, please refer to the screenshot image from the sales page provided below.
However, if you find the price higher than your current budget, we also offer an affordable alternative course that covers similar principles. You can check out our course, [ HERE], to explore an equally effective option tailored to your financial needs.
Is Amazon Accounting Simplified Scam or Legit?
Rest assured, “Amazon Accounting Simplified” is a reputable and legitimate course in the realm of Amazon accounting. Countless satisfied students have testified to its efficacy in equipping them with the knowledge and skills to navigate the financial complexities of e-commerce.
What are people saying about Amazon Accounting Simplified?
After conducting extensive research on consumer feedback, we discovered a wealth of positive reviews from students who have experienced the transformative power of course. While individual opinions may vary, it is clear that the course has resonated with a broad range of aspiring and established Amazon sellers. Here are a few snippets from social media platforms:
Conclusion: Amazon Accounting Simplified Review
In conclusion, “Amazon Accounting Simplified” by Anna Hill is an invaluable resource for anyone seeking to conquer the financial challenges of running an Amazon business. With its comprehensive coverage, expert guidance, and practical application, this course empowers aspiring and established sellers alike to achieve financial mastery in the world of e-commerce. So, why wait? Enroll today and embark on a transformative journey towards financial success in the realm of Amazon!