{"id":10828,"date":"2024-03-06T11:05:56","date_gmt":"2024-03-06T16:05:56","guid":{"rendered":"https:\/\/www.sage.com\/en-ca\/blog\/?p=10828"},"modified":"2026-01-15T11:24:52","modified_gmt":"2026-01-15T16:24:52","slug":"accounting-for-amazon-sellers","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ca\/blog\/accounting-for-amazon-sellers\/","title":{"rendered":"Accounting for Amazon sellers"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tAccounting for Amazon sellers\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2024-03-06T11:05:56-05:00\">March 6, 2024<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Accounting for Amazon sellers\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ca\/blog\/accounting-for-amazon-sellers\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-ca\/blog\/author\/douglasbonderud\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/11\/Bonderud-Headshot-350x350.jpg\" class=\"entry-author__image\" alt=\"Douglas Bonderud\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/11\/Bonderud-Headshot-350x350.jpg 350w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/11\/Bonderud-Headshot-768x767.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/11\/Bonderud-Headshot.jpg 800w\" sizes=\"auto, (max-width: 40px) 100vw, 40px\" \/>\t\t\t\t<span class=\"entry-author__name\">Douglas Bonderud<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n\n\n<p>In 2023, online retail giant Amazon generated <a href=\"https:\/\/companiesmarketcap.com\/amazon\/revenue\/\" target=\"_blank\" rel=\"noreferrer noopener\">$554bn in revenue<\/a>, which represents a $40bn increase over the previous year.<\/p>\n\n\n\n<p>As the world\u2019s leading e-commerce website, this is no surprise.<\/p>\n\n\n\n<p>The company is constantly adding new products, both directly from suppliers and through what are known as Amazon sellers.<\/p>\n\n\n\n<p>In this article, we talk about:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>what Canadian sellers need to know about Amazon seller accounting, <\/li>\n\n\n\n<li>how it differs from typical business practices, <\/li>\n\n\n\n<li>what they can do to streamline Amazon accounting operations.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-here-s-what-we-ll-explore\">Here&#8217;s what we&#8217;ll explore<\/h4>\n\n\n<?xml encoding=\"utf-8\" ?><div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><ul><li><a href=\"#sellers\" data-level=\"2\">Amazon sellers: Brands vs resellers<\/a><\/li><li><a href=\"#what\" data-level=\"2\">What is accounting for Amazon sellers?<\/a><\/li><li><a href=\"#differ\" data-level=\"2\">How does Amazon accounting differ from typical accounting?<\/a><ul><li><a href=\"#h-discovering-data-at-a-distance\" data-level=\"3\">Discovering data at a distance<\/a><\/li><li><a href=\"#h-cost-of-goods-sold-consistency\" data-level=\"3\">Cost of goods sold consistency<\/a><\/li><li><a href=\"#h-solving-for-sales-tax\" data-level=\"3\">Solving for sales tax<\/a><\/li><li><a href=\"#h-digging-into-the-details\" data-level=\"3\">Digging into the details<\/a><\/li><\/ul><\/li><li><a href=\"#streamline\" data-level=\"2\">4 ways to streamline your Amazon seller accounting process<\/a><ul><li><a href=\"#h-1-sideline-spreadsheets\" data-level=\"3\">1. Sideline spreadsheets<\/a><\/li><li><a href=\"#h-2-automate-key-actions\" data-level=\"3\">2. Automate key actions<\/a><\/li><li><a href=\"#h-3-track-data-in-real-time\" data-level=\"3\">3. Track data in real time<\/a><\/li><li><a href=\"#h-4-close-the-gap-with-cloud-solutions\" data-level=\"3\">4. Close the gap with cloud solutions<\/a><\/li><\/ul><\/li><li><a href=\"#final\" data-level=\"2\">Final thoughts on accounting for Amazon sellers<\/a><\/li><\/ul><\/div>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Discover AutoEntry<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>AutoEntry helps small business owners and accountants reduce manual data entry, giving them more time to focus on what matters.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/accountants\/products\/autoentry\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-7125\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Learn more about AutoEntry<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-557715883-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-557715883-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sellers\">Amazon sellers: Brands vs resellers<\/h2>\n\n\n\n<p>Amazon sellers fall into two broad categories: brands and resellers.<\/p>\n\n\n\n<p>Brands create and sell their products to consumers, using Amazon to display product details and handle product fulfillment.<\/p>\n\n\n\n<p>Resellers do the legwork of finding popular products and offering them in Amazon stores directly to buyers.<\/p>\n\n\n\n<p>According to the <a href=\"https:\/\/assets.aboutamazon.com\/29\/6c\/29e9463d4415bc26710e20ecd8de\/amazon-canada-2022-impact-report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>2022 Amazon Canada Impact Report<\/strong><\/a>, sellers are seeing success in Canada. There are now more than 41,000 Amazon selling partners in Canada. They collectively sell 200 products per minute and average $85,000 per year in revenue.<\/p>\n\n\n\n<p>For sellers to see sustained success, however, solid sales volumes aren\u2019t enough.<\/p>\n\n\n\n<p>Businesses and owners need accounting processes that address the unique challenges of selling on Amazon and ensure that relevant revenue data is effectively tracked, managed, and recorded.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what\">What is accounting for Amazon sellers?<\/h2>\n\n\n\n<p>Accounting for Amazon sellers covers all the processes related to tracking and managing sales, cost, inventory, and tax data.<\/p>\n\n\n\n<p>Accurate accounting data is critical for companies to ensure that current operations are profitable, remain in compliance with local and federal regulations, and reduce the risk of overstock or inventory stock-outs.<\/p>\n\n\n\n<p>For many Amazon sellers building their online businesses, accounting takes a back seat to marketing, reputation building, and customer service.<\/p>\n\n\n\n<p>The problem?<\/p>\n\n\n\n<p>When tax time arrives, sellers may find themselves struggling to collect and unify a year\u2019s worth of data in just days or weeks.<\/p>\n\n\n\n<p>As a result, a robust Amazon selling accounting strategy is essential for long-term success.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"differ\">How does Amazon accounting differ from typical accounting?<\/h2>\n\n\n\n<p>While the core principles of accounting remain the same across Amazon sellers, brick-and-mortar retailers, and dedicated e-commerce operations, managing Amazon seller finances comes with unique challenges.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-discovering-data-at-a-distance\">Discovering data at a distance<\/h3>\n\n\n\n<p>Many Amazon sellers opt for fulfillment by Amazon (FBA) to streamline the sales process.<\/p>\n\n\n\n<p>Using FBA, sellers can outsource order picking, packing, and shipping to Amazon. In addition, FBA offers customer service on these orders, including return processing.<\/p>\n\n\n\n<p>FBA is a great choice for many smaller sellers because it allows them to focus on products and profits rather than the day-to-day tasks that come with fulfillment.<\/p>\n\n\n\n<p>But the arms-length nature of FBA can also pose a challenge.<\/p>\n\n\n\n<p>When the details are handled by Amazon, it\u2019s easy for sellers to lose track of how many orders have been fulfilled, how many have been returned, and how much they\u2019ve spent on FBA per month.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cost-of-goods-sold-consistency\">Cost of goods sold consistency<\/h3>\n\n\n\n<p>The cost of goods sold (COGS) is a key metric for Amazon sellers.<\/p>\n\n\n\n<p>To calculate COGS, businesses must combine the costs of making (or acquiring) products with all other costs of bringing these products to market, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Packaging fees<\/li>\n\n\n\n<li>Shipping fees<\/li>\n\n\n\n<li>Tariffs<\/li>\n\n\n\n<li>Taxes<\/li>\n\n\n\n<li>Duty payments.<\/li>\n<\/ul>\n\n\n\n<p>For many sellers, COGS consistency is problematic.<\/p>\n\n\n\n<p>Consider the example of a seller who buys inventory with a total COGS of $100,000 at the start of June.<\/p>\n\n\n\n<p>To keep accounts accurate, sellers often assign the entirety of this $100,000 cost to the month they purchase the inventory.<\/p>\n\n\n\n<p>The issue?<\/p>\n\n\n\n<p>If sellers earn $40,000 in June, $25,000 in July, and $45,000 in August selling this inventory, but assign the entire cost of inventory to June, it creates accounting inconsistency.<\/p>\n\n\n\n<p>Here\u2019s why.<\/p>\n\n\n\n<p>In June, the seller earns $40,000 but subtracts the entirety of their COGS cost, which results in a loss: $40,000 \u2013 $100,000 = -$60,000.<\/p>\n\n\n\n<p>In July and August, the seller records only earnings but not COGS costs, since they were subtracted two months prior.<\/p>\n\n\n\n<p>The result is a seemingly terrible June and great July and August, when in fact the cost of inventory actually applied across all three months.<\/p>\n\n\n\n<p>To ensure consistent calculation, companies should record COGS for items sold, rather than inventory received.<\/p>\n\n\n\n<p>While additional reconciliation may be required at the end of the fiscal quarter or year if not all inventory is sold, this approach provides a much more accurate representation of cost vs income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-solving-for-sales-tax\">Solving for sales tax<\/h3>\n\n\n\n<p>Sales tax is also a potential challenge for Amazon sellers.<\/p>\n\n\n\n<p>In Canada, sellers must contend with the:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li> goods and services tax (GST)<\/li>\n\n\n\n<li>provincial sales tax (PST)<\/li>\n\n\n\n<li>harmonized sales tax (HST).<\/li>\n<\/ul>\n\n\n\n<p>For example, sales made in Alberta are subject to 5% GST.<\/p>\n\n\n\n<p>In British Columbia, both the GST and a 7% PST apply.<\/p>\n\n\n\n<p>For provinces such as Newfoundland and Labrador, Nova Scotia, and New Brunswick, meanwhile, there is a 15% HST.<\/p>\n\n\n\n<p>In most cases, Amazon\u2019s role as a Marketplace Facilitator (MFP) means the <a href=\"https:\/\/www.amazon.ca\/gp\/help\/customer\/display.html?nodeId=202211260\" target=\"_blank\" rel=\"noreferrer noopener\">company is responsible for collecting and remitting sales tax<\/a>.<\/p>\n\n\n\n<p>However, there are instances where third-party sellers may be required to collect and remit their own taxes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-digging-into-the-details\">Digging into the details<\/h3>\n\n\n\n<p>Amazon typically pays sellers every two weeks with direct deposits into bank accounts. While this makes it easy to get paid, the amount deposited into accounts isn\u2019t reflective of all seller costs and income.<\/p>\n\n\n\n<p>Let\u2019s say a seller receives a deposit of $150,000. How should this number be recorded in accounting ledgers?<\/p>\n\n\n\n<p>It\u2019s tempting to classify the deposit entirely as sales since it\u2019s positive cash flow into an account, but it\u2019s actually a combination of multiple activities.<\/p>\n\n\n\n<p>First, sales tax and FBA inventory reimbursements are added to total sales. Then FBA fees, chargebacks, refunds, and any shipping or storage fees are subtracted.<\/p>\n\n\n\n<p>As a result, relying on deposit data alone only provides part of the sales picture.<\/p>\n\n\n\n<p>To find the details, sellers need to pull data directly from their seller account and then input it into a spreadsheet or accounting software.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Discover Sage Intacct<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Our cloud financial management platform delivers deep accounting capabilities across multiple industries designed with a single aim\u2014to accelerate your success.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/intacct\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-7124\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Learn more about Sage Intacct<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-954307646-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-954307646-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"streamline\">4 ways to streamline your Amazon seller accounting process<\/h2>\n\n\n\n<p>Amazon selling is simple, but can make accounting processes more complex.<\/p>\n\n\n\n<p>Here are four ways to streamline Amazon accounting actions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-sideline-spreadsheets\">1. Sideline spreadsheets<\/h3>\n\n\n\n<p>While spreadsheets remain a popular accounting tool, they\u2019re not capable of handling the volume and variety of Amazon sales.<\/p>\n\n\n\n<p>Even owners with accounting experience may be hard-pressed to ensure complete and accurate financial records, especially when dealing with COGS, FBA fees, and other expenses.<\/p>\n\n\n\n<p>Best bet? Invest in accounting software.<\/p>\n\n\n\n<p>Look for <a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/intacct\/\" target=\"_blank\" rel=\"noreferrer noopener\">accounting solutions<\/a> that offer multi-entity consolidation, interactive reporting tools, and a marketplace for add-on solutions to help sellers reduce accounting errors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-automate-key-actions\">2. Automate key actions<\/h3>\n\n\n\n<p>Automation also plays a key role in successful Amazon sales accounting.<\/p>\n\n\n\n<p>For example, by automating the process of data collecting from seller account back-ends, businesses can track and manage their complete sales picture.<\/p>\n\n\n\n<p>Implementing automation can help sellers <a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/intacct\/\" target=\"_blank\" rel=\"noreferrer noopener\">reduce monthly close times by up to 66%<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-track-data-in-real-time\">3. Track data in real time<\/h3>\n\n\n\n<p>Sales data is dynamic.<\/p>\n\n\n\n<p>Both supply and demand can fluctuate month-to-month and even day-to-day, making real-time data tracking a key component of any accounting software.<\/p>\n\n\n\n<p>With the ability to collect and correlate data from multiple sources, sellers are better prepared to manage financial records and ensure compliance with provincial and federal tax regulations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-close-the-gap-with-cloud-solutions\">4. Close the gap with cloud solutions<\/h3>\n\n\n\n<p>As sellers scale up their businesses, they need accounting software that can keep pace.<\/p>\n\n\n\n<p>Cloud-based solutions offer the resources sellers need to capture current sales data, and the scalability required to meet future financial needs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final\">Final thoughts on accounting for Amazon sellers<\/h2>\n\n\n\n<p>Accounting for Amazon sellers comes with unique challenges tied to both the scale and speed of operations.<\/p>\n\n\n\n<p>While the retail reach of Amazon is unparalleled, the sheer volume of data created by sales, costs, and fees can create complexity for sellers.<\/p>\n\n\n\n<p>Streamlining the process starts with a recognition of potential pitfalls, such as calculating COGS and solving for sales tax. <\/p>\n\n\n\n<p>With issues identified, sellers can simplify accounting operations with the deployment of automated, real time, cloud-based software solutions.<\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small Business Survival Toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>A practical guide with easy to use templates to help your new business start, survive and thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-f83d0c91-0a6f-44a6-bc16-55083b9084df\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Get your Small Business Survival Toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"single-cta__downloads\">\n\t\t\t\t\t\n\t\t\t\t\t7,066 readers have downloaded this guide\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg\" class=\"single-cta__image\" alt=\"People sitting at desks in a large office\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p class=\"cta-content__title\">Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-8949a954-88b2-43bb-8b8a-77c53eb34350\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/tag\/accounting-101\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tAccounting 101\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post 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https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1178687924-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-03-04T09:30:54-05:00\">March 4, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">3 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/transform-professional-services-profitability\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tTransform your professional services firm with this game-changer for profitability\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tDiscover how business intelligence tools drive profitability in professional services with real-time insights and optimized utilization.\n\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-13703 post type-post 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class=\"card-post__meta-text\"><span class=\"reading-time\">11 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tCommon cash flow problems and how to solve them\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-12515 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-strategy-legal-operations tag-accounting-101 tag-bookkeeping tag-business-finances tag-business-intelligence tag-cash-flow tag-financial-insights tag-how-to-grow-your-business tag-midsized-business tag-small-business business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/invoice-vs-receipt\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-814559004-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-814559004-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-814559004-768x432.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-814559004-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2025-02-17T08:41:36-05:00\">February 17, 2025<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tInvoice vs. receipt: What\u2019s the difference and why does it matter?\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-12509 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-customers category-strategy-legal-operations tag-accounting-101 tag-bookkeeping tag-business-intelligence tag-midsized-business tag-profit-and-loss tag-small-business business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/what-is-a-trial-balance\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/12\/GettyImages-1252669747-684x384.jpg\" class=\"card-post__image\" alt=\"Woman smiling at desk\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/12\/GettyImages-1252669747-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/12\/GettyImages-1252669747-768x432.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/12\/GettyImages-1252669747-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2025-02-17T07:17:29-05:00\">February 17, 2025<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">5 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tTrial balance definition\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Accounting for Amazon sellers comes with unique challenges and potential pitfalls. Discover how Canadian sellers can streamline the process.<\/p>\n","protected":false},"author":924,"featured_media":7865,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"footnotes":""},"categories":[7],"tags":[162],"business_type":[3],"lilypad":[],"context":[],"industry":[137],"persona":[],"imagine_tag":[35],"coauthors":[320],"class_list":["post-10828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-accounting-101","business_type-small-business","industry-ecommerce"],"sage_meta":{"region":"en-ca","author_name":"Douglas Bonderud","featured_image":"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1173377474.jpg","imagine_tags":{"35":"accounting software"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Canada English","distributor_original_site_url":"https:\/\/www.sage.com\/en-ca\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts\/10828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/users\/924"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/comments?post=10828"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts\/10828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media\/7865"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media?parent=10828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/categories?post=10828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/tags?post=10828"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/business_type?post=10828"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/lilypad?post=10828"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/context?post=10828"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/industry?post=10828"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/persona?post=10828"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/imagine_tag?post=10828"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/coauthors?post=10828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}