Very helpful video, Nikki, thanks as always. Congrats on "putting down roots" and buying land. You be more and more glad that you id as tim4e goes by. Have a GREAT 2022!
Thank you so much for this video! However it seems NOW in order to obtain our Customized Unified Summary Report, we now go to Payments then to Reports Repository, Select: Summary. The old way of Reports to Payments isn't even an option anymore? Just FYI friends.
This is exactly what I'd like to know too! It's like that stuff is in limbo--already recorded as a purchase, but not yet added and sent in to fba. But, I think yes, we do have to include it as part of the year end inventory. I'm going to call it inventory in home storage limbo.
I am following this video to the "T" but I downgraded my amazon selling account to an individual instead of the LLC one. I clicked on reports and the only options it is showing me is fullfillment, return reports and custom reports. So how would I find the tax report? I sold roughly $10,000 and decided to sell out and just stop.
Hey Nikki - When I pull the end-of-year inventory report am I supposed to total the ending inventory for December only? I have end-qty for other months according to the report but I know for a fact that those certain items sold by December. So I am guessing you only have to total up what is the end-qty for December only?
@@GardenDownSouth This is the thing that no one explains. I have several entries of one sku in the report stretched over the month. But the qty that is important is the last day of the month. Is that true?
Hi Niki! Thank you for the video! But I am still lost because when I go to the reports tab I don't have a button that says tax document library or payments. I've only been selling books here and there so maybe I didn't make enough money? I'm not sure.. I am going to be getting your guide shortly!!
Hello Nikki, Thank you so much for this valuable video, I have one question about calculating monthly Net profit. I downloaded the December payment report(date range report) And to get a monthly net profit, Income - Expenses - COGS, right? But to get the exact number of units for the income is hard to find. From the Business report units are 150 and the Total sales is $10,000 and Income is $8000. Can you please help me finding Net profit?
I have Wyoming single member no partners LLC and doing Amazon FBA from UAE how can I update my seller account from individual to business please advice step by step I'm bit confuse.
Hi Nikki, For some weird reason mine is showing product in stock when In reality I don’t have it in stock? I also noticed that even with date ranges for 2021 it’s showing product sold in 2022? Strange can’t figure it out
I uploaded $2000 worth of items to my Amazon seller account 6 months ago .....all items active.....I never ever sold any item....why? Everything listed and active.....I just spend my time, money for printers laptop etc...just sitting and waiting for my first order ...6 months and nothing.... impossible
Would I be able to just use my expenses and COG from seller board software to show all my expenses to IRS for my amazon and eBay business? (I track accurately in Seller Board)
@@NikkiKirk VERY USEFUL VIDEO!! THANK YOU! One quick question, in the amazon sales report there is a section that says:Amazon Obligated Tax Withheld: is this the amount amazon collected in our behalf? Thank you!
Hi Nikki! I am following along with your video here and also the blog guide using the link in the description of this video for pulling documents for tax season and in this video, for the monthly inventory history you pulled the report from Jan 2021 to Dec 2021 but in the video posted on the blog, it is showing that you pulled Dec 2020 to Dec 2020, could you please clarify if I would need to pull the whole year or just the last month of the year? Thank you in advance!!
Hi Nikki Kirk. Great video. As usual you are full of valuable information. I have a quick questions, I pulled my end of year inventory report and an item quantity is different from the quantity I see now . It says I have 1 but I see 5. what should I do?
Hi Nikki! When I pull this report it is showing me everything from 2021 including everything that I have sold. Am I supposed to be accounting for sold items too? Also what does *XFR mean in the fulfillment center column, I see a lot of those. Thank you!
I always come back to this old video each year because I forget how to get the summary report. lol. Thank you for all you do.
Nice!! There is a new one out this Sunday with the updated way cause Amazon is always chasing the platform now 🙃
Wonderful video Nikki! Thank you! Would be great if you could do a video on submitting your taxes via Turbo Tax!
Great video! So helpful and Nikki is so sweet!!!
absolutely great, thank you so much!
Very helpful video, Nikki, thanks as always. Congrats on "putting down roots" and buying land. You be more and more glad that you id as tim4e goes by. Have a GREAT 2022!
Thanks Dave!
Thank you so much for this video! However it seems NOW in order to obtain our Customized Unified Summary Report, we now go to Payments then to Reports Repository, Select: Summary. The old way of Reports to Payments isn't even an option anymore? Just FYI friends.
5:37 It's 200 transaction AND $20,000 in sales
Thanks!
Nikki is an ocean of knowledge 🙌🏽
Great content, Nikki!
This was so helpful thank you!!
Thanks Nikki!
Omgosh, this video is such a relief! ❤❤
Great Video. Thanks!
Hi Nikki, can you walks us through on how you used Turbo Tax to do your taxes. thanks
I can’t but I can tell you Turbo Tax walks you through it! That’s why I loved using them
Thanks for what you do. It was very helpful.
Thank you! 🖤🖤🖤
Nikki your the bomb! I would have no idea what to pull or where to go on Amazon for all of this info. Thank you sooo much!!
An amazing video, tons of info
Thanks a lot
Very helpful information thank you so much 💗
Very helpful! I needed this! Mahalo! Xo
Thank you this was very helpful!
So...that monthly imventory history tab doesn't exist anymore evidentally. Is it just me or did they remove that?
I see that as well so how do you pull the report???
Do you know if they changed the monthly inventory history to another tab? I'm unable to find it in 2024
How do you reconcile Amazon FBA? Can you do a video?
Yes! I’m working on one now
Thank you for helping me find the reports I was unsure how to find.
Thankyou Niki
You’re welcome!
Thank you!
How would amazon know my cost of goods? Or how would I correlate the coat of goods with the existing inventory if you have lots of skus
Does the report include FBA storage fees? i generated it but I don’t see storage fees on there.
Great video. If we have stock currently at our house and not sent to amazon yet such as lego etc. Do we count that as well
This is exactly what I'd like to know too! It's like that stuff is in limbo--already recorded as a purchase, but not yet added and sent in to fba. But, I think yes, we do have to include it as part of the year end inventory. I'm going to call it inventory in home storage limbo.
Use cash accounting, its much easier.
Thanks
You’re welcome!
Isn't shipping and fees and sales tax already deducted pre 1099?
I am following this video to the "T" but I downgraded my amazon selling account to an individual instead of the LLC one. I clicked on reports and the only options it is showing me is fullfillment, return reports and custom reports. So how would I find the tax report? I sold roughly $10,000 and decided to sell out and just stop.
Hey Nikki - When I pull the end-of-year inventory report am I supposed to total the ending inventory for December only? I have end-qty for other months according to the report but I know for a fact that those certain items sold by December. So I am guessing you only have to total up what is the end-qty for December only?
yeah this is kind of not explained
@@GardenDownSouth This is the thing that no one explains. I have several entries of one sku in the report stretched over the month. But the qty that is important is the last day of the month. Is that true?
Hi I recently changed my ein number and bank account number and now my all fbm listing are showing active but I am not showing as seller
Thank you.for this video! Do you pull any info from Inventory lab?
They do I believe I haven’t dug into the reports there yet
What exactly are " shipping credits" ? My first year my accountant counted that as my shipping!
very helpful
Hi Niki! Thank you for the video! But I am still lost because when I go to the reports tab I don't have a button that says tax document library or payments. I've only been selling books here and there so maybe I didn't make enough money? I'm not sure.. I am going to be getting your guide shortly!!
You probably did not qualify this year for a tax doc but you will next year if you do over $600
I would run the other reports mentioned in that case
@@NikkiKirk ok thank you so much!
Hello Nikki,
Thank you so much for this valuable video,
I have one question about calculating monthly Net profit.
I downloaded the December payment report(date range report)
And to get a monthly net profit, Income - Expenses - COGS, right?
But to get the exact number of units for the income is hard to find. From the Business report units are 150 and the Total sales is $10,000 and Income is $8000.
Can you please help me finding Net profit?
I have Wyoming single member no partners LLC and doing Amazon FBA from UAE how can I update my seller account from individual to business please advice step by step I'm bit confuse.
Hi Nikki,
For some weird reason mine is showing product in stock when In reality I don’t have it in stock? I also noticed that even with date ranges for 2021 it’s showing product sold in 2022? Strange can’t figure it out
Can we also claim the products we purchased? Or would it be just materials, shipping, etc.
Oh yes absolutely your cost of goods
I uploaded $2000 worth of items to my Amazon seller account 6 months ago .....all items active.....I never ever sold any item....why? Everything listed and active.....I just spend my time, money for printers laptop etc...just sitting and waiting for my first order ...6 months and nothing.... impossible
Did you check the ranking of the items? I go by Nikki’s ranks and I’ve sold stuff immediately you can sign up and it will be emailed to you
Would I be able to just use my expenses and COG from seller board software to show all my expenses to IRS for my amazon and eBay business? (I track accurately in Seller Board)
Hey Nikki! If you don’t mind if I ask, Did you file your tax as cash or accrual basis?
I can’t recall but I know it’s the “typical” one
@@NikkiKirk VERY USEFUL VIDEO!! THANK YOU! One quick question, in the amazon sales report there is a section that says:Amazon Obligated Tax Withheld: is this the amount amazon collected in our behalf? Thank you!
@@misa.hdez1 if it’s the one in the bottom right then yes that’s it
My form does not look like that ?
I pulled it for this video so I don’t know why it would be different but maybe not the same report I pulled
Have u ever been to pakistan
Hi Nikki!
I am following along with your video here and also the blog guide using the link in the description of this video for pulling documents for tax season and in this video, for the monthly inventory history you pulled the report from Jan 2021 to Dec 2021 but in the video posted on the blog, it is showing that you pulled Dec 2020 to Dec 2020, could you please clarify if I would need to pull the whole year or just the last month of the year? Thank you in advance!!
Hey! Just the last month, sorry for the confusion!
@@NikkiKirk Thank you so much for the quick response!!! Your guides, videos, and Facebook group have been tremendous help!! 🤗♥️
If you did not do $20000 in sales and 200 transactions what do you need to file?
Pull the summary report I outline here and you will have the bulk of the info you need to give to your tax person or do your own.
Hi Nikki Kirk. Great video. As usual you are full of valuable information. I have a quick questions, I pulled my end of year inventory report and an item quantity is different from the quantity I see now . It says I have 1 but I see 5. what should I do?
It tells you what you had that month so as you sell stuff it’ll change every month
Hi how r u
This was SO helpful! Thank you so much!!
Hi Nikki! When I pull this report it is showing me everything from 2021 including everything that I have sold. Am I supposed to be accounting for sold items too? Also what does *XFR mean in the fulfillment center column, I see a lot of those. Thank you!
Just what is “in stock” you can sort by that column first
Lol..the more i listen to tax videos the less i want to do this
CONFUSING
Yeah, because Amz changed the reports.
Strong independent white woman!
U r cute
Helped me so much thank you!