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Amazon Financial Management

CSM for Amazon’s Financial Management module provides you with the tools you need to retrieve and process settlement information from Amazon.

CSM Automation List

FBA and FBM are all part of the same financial group. For Amazon in the financials regards, the difference is not relevant.

MWSFINEVENTGROUP

MWSFINEVENTGROUPTRAN (for FBA)

MWSFINEVENTGROUPTRAN (for FBM). This one comes out of the box, although it is not needed to be run. Go to the ‘schedule’ column and unmark it.

CSM Amazon Fin Event Types

This is a setup table where you list all financial setup types for Amazon.

Note: You will need to load all your API data, so that this table is completed successfully.

Here are where the GL Debit and GL Credit accounts are assigned for the different ‘Financial Event Codes.’

  • Adjustments, Orders, Other transactions.
  • Charge: These get recorded by the posting of the sales invoice in Business Central.
  • Fee: Amazon fees do not come through with the order information, they come separate. This table allows them to be tracked successfully. Use your ‘Due to Amazon’ account for these. Whichever account you used on the Sales Tax for the orders lines, use the same for ‘GL Debit’ on the Withheld tax fee.

The financial transactions that are recording to a vendor’s Amazon seller account over the course of a settlement period are gathered together as part of a “financial event group.” Depending on a financial event group’s balance, Amazon will either disperse funds to the vendor’s bank account or charge the vendor for an outstanding amount at the end of the settlement period.

CSM retrieves settlement reports from Amazon and then uses the content of these reports to create CSM financial event group records into Business Central. You can review these records by searching Business Central for CSM Amazon Fin Event Groups and then choosing the related link.

To view the individual financial transactions that comprise a financial event group’s total amount, choose the Related ribbon, then choose the Transactions action. Business Central presents a list of the financial transactions that were record in the settlement period represented by the financial event group. Common financial event transactions include:

  • Adjustments
  • Service and storage fees
  • Shipping charges
  • Fixed and variable closing fees
  • Taxes
  • Commissions

CSM Amazon Reports

At the end of every settlement period, Amazon generates a settlement account that contains a detailed breakdown of account activity, as well the funds that will be dispersed by Amazon to your bank account. CSM includes functionality to retrieve these settlement reports from Amazon. You can process these reports to create CSM Amazon financial event group records in Business Central.

Note: CSM’s settlement retrieval functionality supports integrations that use both Amazon’s modern SP-API set and its legacy MWS API set.

To retrieve and process Amazon reports:

  • Search Business Central for CSM Amazon Reports and then choose the related link.
  • From the Report Processing ribbon then select Get Available Reports
  • Select the report you want to process, then choose the Process Settlement Report action in Report Processing ribbon.

CSM will update the report’s status to Processed and assign a processed date and time to the report line. In addition, a new CSM Amazon financial event group record based on the content of the processed report is created by the application. You can review this new record by choosing the icon, entering CSM Amazon Fin Event Groups, and then choosing the related link. This new financial event group record will have a funds transferred status of Settlement Complete.

Obtaining Data to Present to Tax Authorities

In our current version, you have the ability of assigning GL Debit and GL Credit accounts to different fees and pointing out how your Chart of Accounts will be impacted.

  • Click ‘Open in Excel’
  • Create a pivot table
  • Filter for the GL accounts tax related and get your

Creating a GL Journal Entry for your Amazon Fees

  • Search for CSM Amazon Financial Management Setup
  • Set your Journal Template & Batch.  We suggest using journal code ‘GENERAL’ and create a new batch for this activity, separated from other working batches used for other purposes.
  • Go to the Fin. Event Group card you want to post. On the ribbon of the card, click "Fee Posting Worksheet". That opens the worksheet/ journal with the suggested entries where can be seen and edited if necessary.
  • Once verified, click on "Post Worksheet". You will never see anything in the Journal batches, it happens automatically in the background when you post the worksheet.
  • Go to the ‘General Ledger Entries,’ or GL Accounts involved and review your posted transactions.