Cash Receipt Journal Overview
The Cash Receipt Journal entry shows you the cash received into your bank account, broken out by payment processor as well as the gross value to be cleared from the clearing account or accounts receivable due to these same settlements. In the walk from gross to net settlement there are many charges that Blue Onion helps you record, such as:
Merchant fees charged by each processor
Other expenses or credits
Sales tax remitted
Chargebacks, disputes and the reversal of the same
Net amount transferred to your clearing account(s) receivable
Amazon Seller Expenses
Blue Onion also provides comprehensive accounting for the cash settlements for Amazon Seller including the FBA expenses charged for their fulfillment services. Below are the detailed line items we display for recording expenses from Amazon:
Reversal Reimbursements
Remitted Sales Tax and VAT
Fulfillment Fees
Net Change in Reserve Balances held at Amazon
Adjustments
Shipping Costs (both collected from customer and paid by you)
While we are a team of former accountants, we are not in the business of providing professional services. The information presented is for informational purposes only and is not intended to be a substitute for professional accounting, tax, or legal advice. We recommend that you consult with a qualified accountant, tax advisor, or lawyer who is familiar with the specific needs and nuances of your business.