Third party sales at Amazon being major successful business worldwide brings a new sector all together in the financial market. In 2021, Amazon’s revenue was $469 billion, up from $386 billion in 2020 which expands the horizon for profitability for the sellers. Fulfillment by Amazon (FBA) makes it even easier for entering the sector by enabling Amazon sellers to outsource shipping to Amazon.
FBA might help you with logic and shipping however managing the books & cash flow still lies in your hands. If you cant stay on the top of your books then you might find yourself being caught up in compliance trap & delayed tax payments.
India being the top 6th country for the number of active amazon sellers with about 205,884 sellers, it is imperative to focus on customized bookkeeping for this sector.
Online software based accounting looks quite attractive in such situations but does not deliver the solution to these customers. Online software based accounting cater to more complex situations rather than day-to-day update of the books.
On the other hand, GYC Advisory offers a team of Chartered Accountants to supervise your business finances regularly.