What is Advanced Amazon functionality
Advanced Amazon import functionality is the approach Synder has taken to guarantee 100% coverage of your financial data from Amazon, including all transactions, fees, and adjustments. This advanced functionality ensures that every detail of your Amazon financials is meticulously captured and accurately recorded in your accounting software, providing you with a clear picture of your business’s performance on the Amazon platform.
It leverages Amazon Settlement reports (available as soon as a new settlement is finalized on Amazon end). Read more about how to request Amazon Settlement reports for previous periods in this article. Synder reads and imports the reports line by line, essentially supporting whatever fees or adjustments you have or will have in future.
This Advanced Amazon functionality is available to all new organizations created in Synder, but it is an opt-in feature, provided at no extra cost for existing organizations. Below are some considerations why you might want to enable this advanced functionality for your existing organization and some points you need to know to make the transition as smooth as possible.
What benefits does Advanced Amazon functionality bring
Most importantly, it is ‘forward-compatible’ meaning that any new transaction types, fees, or adjustments introduced by Amazon in the future will automatically be captured and imported into Synder and your accounting software without requiring additional setup or updates. This ensures that your financial records remain up-to-date and comprehensive, even as Amazon continues to evolve its platform and services.
Second important benefit is a streamlined and more straightforward system of transaction types. The transaction types, ids, and descriptions of fees will follow the same pattern, fully compatible with the Settlement report column names and contents. This will make it easier for you to identify and categorize your transactions, as well as reconcile your financial statements.
Things you might need to keep in mind
What will happen when you opt in
Your existing connection to Amazon will be switched to the Advanced Amazon, and you will notice a new Payment platform in the filter on the Platform transactions table.
After you opt in, there is no going back. This is because the Advanced Amazon functionality will permanently replace your current Amazon connection, and all your transactions will be imported using this new approach. It’s crucial to understand that this change is irreversible, so ensure you’re ready for the transition before making the switch.
Orders and Refunds, along with order-related commissions and fees, will still be imported as they happen, but the rest of non-transaction fees and adjustments will be available only when there is a settlement report generated by Amazon for them.
Dealing with past data
Given that the Advanced Amazon functionality entails a radically different system of transaction types and ids, if you run historical imports for a period that was covered prior to enabling this feature, you will likely encounter duplicate transactions in your accounting software. This is because the new system of transaction types and ids will import the same transactions again, but with different identifiers and descriptions. To avoid this issue, it’s recommended to import transactions for the period starting from the date when you enabled the Advanced Amazon functionality.
Smart Rules considerations
If you use Smart Rules to automate categorization of your expenses from Amazon, you should be aware that the Advanced Amazon functionality may affect how these rules apply to your transactions. The new system may introduce new descriptions in the expenses synchronized to your books, so you may need to update your Smart Rules and spend some time reviewing how your fees are categorized and accounted for in your accounting software. You can always contact our support team to help you set everything up correctly.
How you can opt in
You can opt in to the Advanced Amazon functionality by navigating to the My account section of your Synder account, and then clicking on the button below your Amazon connection card.
After enabling the Advanced Amazon functionality, you will receive an email confirmation that the transition has been successfully completed. This indicates that your Amazon connection has been switched to the Advanced Amazon functionality.
Please don’t hesitate to reach out to our support team if you have any questions or need assistance with the transition process. Our team is here to help ensure a smooth transition and provide guidance on how to make the most of this advanced functionality. to make the most of this advanced functionality. We are dedicated to ensuring that your experience with Synder remains seamless and efficient, and we look forward to helping you unlock the full potential of the Advanced Amazon functionality.