Streamline Your Accounting with Seller 365
Managing finances as an ecommerce seller doesn’t have to feel complicated. With your Seller 365 subscription, you have two powerful options for handling accounting - InventoryLab and FeedbackWhiz Accounting. Each tool offers its own approach to tracking profits, managing expenses, and simplifying reporting. Whether you sell on Amazon, Walmart, or both, this guide will help you understand how each option works and which one best fits your business.
Accounting with InventoryLab for Amazon Sellers
• Accrual Accounting Method Automation – track profits as you list and ship inventory.
• FIFO Replenishment Tracking – ensure cost accuracy with First In, First Out logic.
• Profit & Loss Reporting – see how your inventory performance impacts bottom line.
• Disposition Management – categorize damaged or lost items to maintain true profitability.
• Other Income, Expenses, Recurring Expenses, & Mileage – record operational and other costs directly in your account.
• Profit Dashboard – track net profits across Amazon and Walmart in real time.
• Top Products Reporting – identify which SKUs drive your margins.
• Expense Manager – log recurring costs or one-off expenses to maintain accuracy.
• COGS Manager – assign and adjust cost of goods sold for precise profit data.
• Custom Profitability Reports – build reports to compare profit trends by SKU, label, or category over any timeframe.
InventoryLab Accounting Methods & Tools
The Accrual Method
How It Works
InventoryLab automates the accrual method when you list through the application. Unlike cash accounting, which records expenses when money is exchanged, the accrual method only accounts for the cost of goods when they are sold. Until that point, inventory is treated as an asset, not an expense.
If you enter your cost per unit into InventoryLab on the inventory pages or during listing, the system can automatically apply this method, streamlining your accounting process.
Why It Matters
The accrual method offers a more accurate picture of your business’s financial health by ensuring that your expenses align with your sales. This method provides a precise view of how your business is profiting and growing over time. Additionally, automation reduces manual effort, making your accounting process more efficient.
How Does this Streamline Accounting?
Automation: When listing through the application and entering your buy costs, InventoryLab will automate the accrual method.
Accuracy: The accrual method offers a more precise view of your business’s financial health by accounting for costs when goods are sold, not when money is exchanged.
Instant Insights: View net profits for any order ID or MSKU to help make data-driven decisions.
Replenishment Rows & FIFO (First In, First Out)
How It Works
InventoryLab uses the FIFO (First In, First Out) method for efficient inventory management and accounting. The Replenishment rows display the sequence of each replenishment, starting with the Initial or First Purchase row, followed by subsequent rows numbered by their purchase date.
Each replenishment row includes important details such as status, origin, cost per unit, supplier, purchase date, purchased quantity, and remaining quantity. To take full advantage of the FIFO method, you’ll need to enter the purchased date when listing items.
Whenever you replenish an MSKU, InventoryLab automatically adds a new row to the Replenishment Page, capturing the quantity, cost per unit, and purchase date. This ensures that you can easily track different costs for the same MSKU over time.
If you need to add a row manually, InventoryLab also gives this option on the Inventory pages. Entering the purchase date will ensure it falls in the correct FIFO order.
If you need to add a row manually, InventoryLab also gives this option on the Inventory pages. Entering the purchase date will ensure it falls in the correct FIFO order.
Why It Matters
The FIFO method helps reduce the risk of inventory obsolescence by selling the oldest items first, ensuring that your inventory is managed efficiently and with accuracy. By tracking costs at the individual product level, InventoryLab gives you greater control over your inventory management and accounting. InventoryLab automatically adding replenishment rows while listing also saves time and reduces error from manual entry.
How Does this Streamline Accounting?
Accuracy: Automatically tracks the sequence of replenishments, including cost per unit and purchase date, for precise cost management.
Efficiency: Automatically adds replenishment rows when listing through the application, ensuring you always have the most up-to-date information.
Inventory Management: FIFO helps prevent inventory obsolescence by selling the oldest items first, making it a more logical approach for businesses with perishable or time-sensitive stock.
Profit & Loss Report
How It Works
The Profit & Loss (P&L) report in InventoryLab provides a detailed breakdown of your income, expenses, and net profit for any selected date range. This report categorizes both income and expenses, giving you a clear view of your business's financial activity.
The Profit & Loss (P&L) report in InventoryLab provides a detailed breakdown of your income, expenses, and net profit for any selected date range. This report categorizes both income and expenses, giving you a clear view of your business's financial activity.
Any income or expense transaction—whether entered manually or automatically tracked by InventoryLab—is added to the report based on the transaction date.
The P&L report syncs with Amazon to keep your financial data current. For example, sales data is updated every 2-3 hours, reimbursements update daily, and other expenses like reconciliation, refunds, FBA inbound shipments, and advertising are updated after each payment disbursement (typically every two weeks). There is a timestamp at the top of the report, indicating the most recent settlement date.
You can easily export this report to view and share by clicking "Export" at the top-right corner of the page.
Why It Matters
The P&L report gives you an accurate and up-to-date view of your business’s financial status, ensuring you’re always aware of your income and expenses.
How Does this Streamline Accounting?
Comprehensive Overview: Provides a clear breakdown of your income, expenses, and net profit for any selected date range, so you can easily assess your financial health.
Transparency: Includes a timestamp showing the most recent settlement report date, helping you track when data was last reconciled.
Convenient Exporting: Easily export the report to analyze or share your data by simply clicking "Export."
Disposition Management
How It Works
The Disposition Management page in InventoryLab is a helpful tool for sellers managing the condition and status of items that are either removed from Amazon FBA or are Merchant Fulfilled Returns (MFN). If you disagree with Amazon's disposition decisions, this page gives you the ability to make adjustments. You can change the disposition status of items to either Sellable or Unsellable.
As a general rule, mark any item that you can no longer sell as Unsellable. If you plan to sell the item again (even on another marketplace), mark it as Sellable, regardless of Amazon’s disposition decision.
For sellers who consistently receive items with a specific disposition (either sellable or unsellable), you can set a default disposition to streamline the process. This feature automatically categorizes items based on their typical condition, saving time on manual updates. Additionally, you can opt to automatically accept Amazon’s disposition for FBA removals, reducing the need for frequent adjustments.
Why It Matters
The Disposition Management page simplifies the process of managing returned or removed inventory by giving you full control over the disposition status. You can ensure that your inventory is accurately categorized based on whether it’s sellable or not, and streamline your workflow by setting defaults or relying on Amazon’s assessments.
How Does this Streamline Accounting?
Flexibility: Allows you to change the disposition status to Sellable or Unsellable, depending on whether you plan to resell the item.
Time-Saving: The ability to set a default disposition for frequently received reducing manual work.
Control: Gives you the option to override Amazon’s disposition decisions, allowing you to manage inventory the way you want.
Automation: Opt to automatically accept Amazon’s disposition for FBA removals, minimizing the need for adjustments and saving time.
Other Expenses, Other Income, Mileage
How It Works
Other Income:
If you have income that isn’t automatically synced to your Profit & Loss report but you'd like to track it, you can easily add it on the Other Income page. This feature is particularly helpful for sellers who operate on multiple platforms like eBay or Etsy. By manually entering this income, you ensure that it’s included in your financial reports, giving you a more complete view of your business’s earnings.
Other Expenses:
For expenses not automatically imported from Amazon, such as platform fees or service provider costs, you can manually add them under Accounting > Other Expenses. This ensures that all your business expenses are properly tracked and categorized, even those unrelated to Amazon, helping you achieve more accurate financial reporting.
For expenses not automatically imported from Amazon, such as platform fees or service provider costs, you can manually add them under Accounting > Other Expenses. This ensures that all your business expenses are properly tracked and categorized, even those unrelated to Amazon, helping you achieve more accurate financial reporting.
Recurring Expenses:
If you have expenses that repeat regularly, you can set them up as recurring expenses under Accounting > Other Expenses. Choose to have them automatically tracked weekly, monthly, or yearly, saving time and reducing the risk of forgetting to enter these routine costs.
Mileage:
Mileage expenses are tracked separately from other expenses under Accounting > Mileage. While these will be included in the "Other" section of your Profit & Loss report, they won’t affect your net profit or loss calculations. This feature is useful for sellers who use their vehicles for business purposes and need to track mileage for tax or reporting purposes.
Why It Matters
These features provide a way to track all your income and expenses, even those outside of Amazon, giving you a more complete and accurate financial picture. By entering income, expenses, and recurring costs, you can ensure no financial data is overlooked. The ability to track mileage separately also helps you stay organized and compliant with tax regulations, especially if your business involves regular travel.
How Does this Streamline Accounting?
Accurate Reporting: Ensures all income and expenses, including those not automatically synced, are properly accounted for and categorized.
Time-Saving Automation: Set up recurring expenses to be automatically tracked on a weekly, monthly, or yearly basis, reducing manual entry and error.
Organization: Track mileage separately to keep your records clean and focused, ensuring accurate reporting without affecting your net profit or loss.
More of a visual learner? We've got you covered! Check out our interactive walkthroughs below and learn as you go.
FeedbackWhiz Accounting Tools
FeedbackWhiz's P&L tools provide a comprehensive way to track your Amazon business profits and losses, offering a detailed breakdown of sales, profits, and expenses. These tools include all inventory management costs that the Amazon financial system doesn’t track. You can customize your revenue and expense tracking to fit your specific needs, and it breaks down profitability at the product level. Additionally, products can be grouped by category to view overall profitability. With FeedbackWhiz’s Financial Data Visualization tool, you can easily access clear visual representations of key metrics like gross revenue, net revenue, and net profit margins. Plus, the data can be easily exported for further analysis.
Profit Dashboard
How It Works
The Dashboard in FeedbackWhiz provides a comprehensive view of your sales data across all products for a chosen time frame, currency, and marketplace. You can easily customize the time frame to view key metrics like: Units Sold, Orders, Revenue (including Sales and Taxes), Costs (such as Cost of Goods, Expenses, Amazon Fees, Product Promos, Shipping Promos, Refunds, and Advertising), and Net Profit (Margins).
The dashboard will remember your last selected time range, even after you leave the page, so you don’t have to reconfigure it every time you return.
You can also choose to view the data in graph format or download it as a CSV. By clicking "View Graphs," a pop-up will display a Profit & Loss graph with various date range options (Custom Range, Weekly, Monthly, Last 7-90 Days, MTD, QTD, YTD, etc.). The graph breaks down: Revenue, Costs, and Profits.
You can also drill down by product label to get detailed data on: Units Sold, Orders, Gross Revenue, Amazon Fees, Advertising (PPC), Total Cost, Net Profit.
All data is available at the ASIN level, giving you granular insights into each product’s performance.
The Product Comparison section provides a breakdown of product categories under specific labels, showing key metrics like: Units Sold, Revenue, Costs, Net Profit.
Why It Matters
The Dashboard in FeedbackWhiz enables you to analyze and track your business’s performance. By customizing the time frame and focusing on key metrics, you can easily monitor the effectiveness of your sales strategies. The ability to view data through graphs or download CSV reports gives you flexibility in how you analyze your business’s financial health.
How Does this Streamline Accounting?
Comprehensive View: Gain a complete overview of your sales performance, including revenue, costs, and profits, across products and marketplaces.
Customizable Tracking: Tailor the time frame and metrics to track what's most important for your business’s success.
Flexible Reporting: View data in graph form for easy analysis, or download it as a .CSV for further breakdown.
In-Depth Analysis: Drill down to product label or ASIN level for specific data on units sold, revenue, costs, and more.
Product Comparison: Compare product categories to identify top performers and make data-driven decisions to optimize your business.
Top Products
How It Works
The Top Products feature in FeedbackWhiz offers a monthly overview of your product performance, helping you track essential metrics that inform business decisions. You can easily sort the data by factors such as Units Sold, Total Orders, Gross Revenue, Promotions, Refunds, and Amazon Fees. Additionally, the data can be filtered by currency and marketplaces for a more tailored view.
Each product will display a detailed breakdown of financial metrics, including product, units, orders, revenue, promos, refunds, amazon fees, other transactions, inventory reimbursements, PPC spend, cost of goods sold (COGS), total cost, net profit, and margins. This comprehensive data helps you evaluate product performance in detail, providing a clearer picture of profitability and areas for improvement.
Why It Matters
The Top Products feature enables you to evaluate your product performance in a comprehensive manner, giving you insights into key financial metrics. By sorting and filtering the data by various factors like revenue, fees, and costs, you can identify top-performing products and areas that may require attention. This allows you to make data-driven decisions that improve business strategies and increase overall success.
How Does this Streamline Accounting?
Comprehensive Product Overview: Gain detailed insights into product performance, including revenue, costs, and profit margins, to evaluate each product’s financial impact.
Customizable Filtering: Sort and filter data by factors such as currency, marketplaces, and key performance metrics to tailor the view to your specific needs.
Identify Profitability Gaps: Pinpoint areas for improvement by tracking metrics like COGS, PPC spend, and Amazon fees to help optimize your profits.
Expense Manager
How It Works
Easy data entry: Manually add or import revenue and expenses.
Top transactions insights: View your top transactions by count and total, making it easier to identify significant expenses or trends.
Financial management: Keep all your expenses and revenue organized, ensuring accurate financial reporting and better decision-making.
The expense manager in FeedbackWhiz allows you to track and manage your business expenses, as well as add revenue generated. You can easily select the year, currency, and marketplace to view your expenses and revenue within that specific timeframe.
Expenses can include any cost incurred for the product, such as shipping, travel, photography, or advertising. You have the option to add your revenue and expenses manually or import them, with the ability to categorize expenses as "fixed one-time" or "monthly recurring."
The expenses are categorized into top transactions by count, top transactions by total, and monthly recurring expenses, allowing for a clear and organized overview.
Why It Matters
The expense manager helps you maintain accurate financial records by providing a simple way to track and manage both expenses and revenue in one place. This feature ensures that your financial information remains organized, enabling you to make informed decisions about your business. By categorizing expenses, you can easily spot patterns and manage recurring costs, which helps streamline your accounting process and maintain control over your business finances.
How Does this Streamline Accounting?
Expense tracking: Track all business-related expenses, such as shipping, advertising, photography, and more in one central place.
Easy data entry: Manually add or import revenue and expenses.
Top transactions insights: View your top transactions by count and total, making it easier to identify significant expenses or trends.
Financial management: Keep all your expenses and revenue organized, ensuring accurate financial reporting and better decision-making.
COGS Manager
How It Works
The cogs manager in FeedbackWhiz allows you to input and track the cost of goods for individual ASINs. You can filter the data by currency, marketplace, and date range, and search for products using ASINs or product names. Sorting options include ASIN, product title, total COGS, unit cost, fixed cost, and more. Adding COGs is easy, and the data will automatically be calculated for reporting and profit analytics.
You can easily import COGs using a .CSV file or export your information by the date range you'd like to view.
You can easily import COGs using a .CSV file or export your information by the date range you'd like to view.
Key data points, including total COGs, average COGs, and internal notes, are displayed for each expense. Expanding the cost of goods by asin section provides a detailed view of COGs for each product, with the green number indicating how many COGs have been inputted.
Why It Matters
The cogs manager simplifies the process of tracking and managing your product costs, allowing for better financial analysis and more accurate profit calculations. With customizable filtering and sorting options, it becomes easy to track costs at the individual ASIN level, which helps you identify trends and optimize profitability. Importing and exporting data seamlessly ensures smooth integration with your accounting process, saving you time and reducing the risk of errors.
How Does this Streamline Accounting?
Easy tracking of COGs: Input and monitor the cost of goods for each ASIN, helping you maintain a clear overview of your product costs.
Customizable filters and sorting: Filter data by currency, marketplace, and date range, and sort by various key metrics, such as unit cost and total COGS.
Seamless data import and export: Import COGs data using a CSV template and export reports for easy analysis and record-keeping.
Cost breakdowns: Access detailed data, including total and average COGs, to evaluate product costs and make informed decisions.
Group and Compare ASINs with Labels
How It Works
FeedbackWhiz allows you to group ASINs using labels, making it easier to compare performance across specific product sets. This is especially useful for analyzing profitability by supplier, bundle type, replenishment strategy, or other custom group. Instead of reviewing ASINs one by one, you can evaluate trends and outcomes across an entire labeled group.
Why It Matters
When you’re selling at scale, looking at ASINs one by one only tells part of the story. Labels let you group products by the way you actually think about your business - by supplier, bundle type, replenishment strategy, or any custom category that matters to you.
Instead of guessing which products are pulling their weight, you can spot trends faster, compare performance across groups, and make clearer decisions about what to reorder, optimize, or cut entirely. It turns raw data into something you can actually act on.
How Does this Streamline Accounting?
Simplified ASIN organization: Labels group related ASINs together, reducing clutter and making it easier to track costs and performance across product lines or suppliers.
Better cost and profit analysis: Comparing labeled ASIN groups helps identify trends in margins, fees, and profitability without pulling separate reports for each SKU.
Reduced manual cleanup: Built-in grouping minimizes reliance on external spreadsheets, streamlining monthly reviews and end-of-period reconciliation.
Clearer financial insights: Organized ASIN data supports more accurate decision-making around replenishment, pricing, and scaling.
Ready to give it a try? Check out the interactive walkthroughs below to learn more!
Seller 365 has everything you need to simplify your accounting and keep your business running smoothly. With InventoryLab and FeedbackWhiz as your go-to tools, you can effortlessly track profits, manage inventory, and automate key financial tasks. By streamlining your workflow, you’ll have more time to focus on scaling your business and achieving your goals.
Next Steps
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