more-arw search

Q&A Forum

Accounting for High-Volume Amazon Purchases ...

My company purchases a lot of inventory (and a small amount of office related items) via Amazon. The charges go against 3 credit cards and a debit card. Although I've succeeded in getting folks to send me an email regarding their purchases, a large number of items do not match to the email (ie. as one Amazon order can be placed via variety of vendors and/or shipments). I downloaded a statement of purchases from Amazon, however, still could only locate about 1/2 the orders by being creative in terms of what could match. Calling Amazon is basically useless and a waste of time, however, I do need to substantiate the charges, however, the amount of time I am spending on this process is not productive. I have worked with folks to limit the volume of orders being placed with Amazon but am faced with this still being an issue for closing and for inventory valuation. How are folks handling? We can't be the only company with high-volume purchases on Amazon. Thank you!

Answers

Chris Shumate
Title: Accounting Manager
Company: Dominion Development Group, LLC
LinkedIn Profile
(Accounting Manager, Dominion Development Group, LLC) |

The company I work for handles this by not having company p-cards. Everyone that needs to purchase items has an expense report they are responsible for filling out. That way they are doing the matching.

It doesn't make sense to have several people purchasing items, then having you do the matching. If our people want to be reimbursed they keep the receipts, fill out an expense report, then they are reimbursed. If the person is using their own credit information, you can be sure they will take better care of the process.

1795 views
Topics

Get Free Membership

By signing up, you will receive emails from Proformative regarding Proformative programs, events, community news and activity. You can withdraw your consent at any time. Contact Us.

Business Exchange

Browse the Business Exchange to find information, resources and peer reviews to help you select the right solution for your business.

Learn more

Contribute to Community

If you’re interested in learning more about contributing to your Proformative community, we have many ways for you to get involved. Please email content@proformative.com to learn more about becoming a speaker or contributing to the blogs/Q&A Forum.