Hi there, does anyone know how to reconcile Amazon statements please as they don't look like any statement I've seen e.g. no opening/closing balance etc. If anyone can help that would be fantastic, thanks so much
For example, my client's get paid by Amazon every 2 weeks. Whilst no opening/closing balances are displayed, there surely must be an opening/closing balance for any residue of money not transferred?
For example, a statement shows income of £20k in a month, transfers (i.e to the business bank account) of £16k & expenses ("seller fees") being £2k.
The statement summary shows an overall "account activity for this statement" of £2k - is that not what is 'being held on account' - it will no doubt get mopped up in the next transfer but I assume there must always be a buffer of funds, if nothing else to pay for refunds??
I agree, Amazon statements are not clear on this - I would say that the closing balance is what's left in the account before the transfer is made e.g. £700 which is then initiated two days after the statement. Why can't Amazon do monthly statements just like everyone else?
