Amazon and Uncategorized Transactions

Amazon is a global enterprise that sells anything from books, electronics, toys, clothing, housewares, and more online—all of which are delivered to you. Over 300 million customers shop on Amazon worldwide, and Amazon offers products from over 1.9 million small to medium-sized businesses, making Amazon one of the largest and most popular companies in the world (Amazon). So, you’re bound to encounter Amazon expenses in your personal life and especially through your client’s financial transactions. 

Though Amazon is a useful resource to find practically any product you could imagine, accountants and bookkeepers alike name it as one of their biggest hurdles in budgeting and managing the books. Amazon’s massive variety of products creates a headache for accountants and bookkeepers. For example, a client might purchase some self-help books, cleaning supplies, computer stands, and a gift basket on Amazon in one order. There are hundreds of reasons why these items might be necessary or what they’re for. You don't know exactly what your client purchased, why, or for who. And when your client makes a purchase from Amazon for, say, $140, the bank feed and receipts often don’t supply the necessary information or details on the items purchased to categorize transactions and close the books. So, it can rapidly turn frustrating and confusing to constantly keep up with hunting down this information through spreadsheets.