Accurately recording your eCommerce sales, refunds, and selling fees in your bookkeeping is easy with Pandle.
Ecommerce merchants such as Amazon, eBay, and Shopify also have reporting features so you can retrieve your sales information, as do payment handling platforms such as GoCardless. These summaries can then be entered into Pandle.
Accounts on Other Platforms
If you use other eCommerce platforms, such as Wix, Squarespace, Big Cartel, Etsy or something else, the process for entering your summaries into Pandle will be the same (which we explain below).
Each platform might have slightly different processes for retrieving this information, though the reports are similar for each merchant and will include the total sales and fees information that you need.
We have used examples of how to retrieve the summary information from some of the most common eCommerce merchant platforms below.
Retrieving summaries from your Amazon account
We recommend entering financial summaries for each Settlement Period.
To find the summary for each of your Settlement Periods in your Amazon Seller Central account, go to your Reports page, then click on the All Statements tab.
From here click on 'View Summary' for the period you wish to enter in Pandle:
You will then receive a summary similar to the following, which we will use for our example:
Retrieving summaries from your Shopify account
In Shopify the summaries you need for Pandle are available in the Sales finance report.
Go to your Shopify admin page, and then select Analytics > Reports. On the Reports page of your Shopify account, go to the Finances section, and click ‘Finances summary’.
Choose your date range, and then use the Sales section of the report to retrieve the values that you need.
Retrieving summaries from your eBay account
If you sell through eBay, sign into your eBay account and go to the My Subscriptions section, and then click on ‘Sales Reports’.
EBay will then notify you by email once the report is available.
Entering your summary in Pandle
To enter the above information in Pandle, you will need to follow these simple steps:
1. Create a new a bank account called 'Amazon Seller Account', or a similar appropriate name.
To do this, go to Banking > Bank Accounts > Click 'New Bank Account' and select the manual entry method.
2. Enter the information from your Amazon summary report in the form of new manual bank transactions, as seen below.
You may need to add new categories for returns and seller fees.
Please note: If you use Amazon, the total amount of your Amazon sales is made up of your 'Product charges' plus any 'Other (shipping & gift wrap credits)', as seen below:
3. You will need to ensure you enter the date for each transaction as the last date on your summary report.
4. Once all the data has been entered from your summary check that the balance of your 'Amazon Seller Account' bank account (or whichever name that you used in Pandle) is the same as the amount the eCommerce platform will be transferring to your actual business account.
5. Once you receive the money in your business account you will need to categorise this transaction in Pandle as Money In from the bank account that you created, such as your ‘Amazon Seller Account’. This will bring the balance of that bank account in Pandle to nil.
Here is an example of how to do this:
Multiple Tax treatment
If you sell products which have different tax rates you will need to breakdown your sales by tax rate.
To do this you will need to add a new sales transaction for each different tax rate.
Multiple Seller Accounts
If you have multiple seller accounts on the same platform, for example you have more than one seller account on Amazon, then you should receive a summary from the merchant platform for each of these accounts. Each seller account will need its own bank account in Pandle with the above process completed for each account.