Best Accounting Software for Commissions by Category

1. Best Accounting Software for Commissions by Category Have you ever sold online via marketplaces such as Amazon or Flipkart? If you have, you know that every sale has two different kinds of commission: one from the marketplace and one from the manufacturer (the brand). You also know that reconciling these commissions is a major pain point in your work-flow because the brand commission has to be computed manually using a standard formula by looking at the purchase invoice. You might even have faced errors in GSTR1 while entering this data in your accounting software like Tally or QuickBooks, which further complicates the process. •Problem Many online sellers who sell via major marketplaces like Amazon and Flipkart need to know what category-wise commission they will receive before selling a product. This is because some products are sold via dealers and some directly through brands, and both have different category-wise commission rates. For example, if you sell a camera lens directly, you get a 16% commission, whereas if you sell it through a flipkart , you will get only 6%. Similarly, all sellers want to know the Flipkart Category Wise Commission before entering data into Tally or QuickBooks. •Solution With accounting software, you don’t have to enter your sale details on multiple websites. This saves a lot of time, which you can use to sell more. Moreover, with GST coming into effect on July 1st, many sellers are facing errors in GSTR1 while filing their monthly returns. The integration with Tally makes it easy for sellers to generate correct invoices even without basic knowledge of accounting software. The dashboard also helps them manage all their sales data without any difficulty. •Categories on Flipkart and Amazon For Amazon, a category is called an ASIN (Amazon Standard Identification Number). For Flipkart, it’s called an SKU (Stock Keeping Unit). If you have something to sell on these platforms, you need to choose your categories carefully. Each category contains hundreds of thousands of products. So, it’s important to understand which category will give you maximum visibility and traction in your niche.

2. Accounting software helps you find out which category will be best for your product or service. The accounting software also gives recommendations based on several factors like competition, traffic, sales rank, etc., so that you can easily choose a winning category for your product or service on both Amazon and Flipkart. It also provides updates regarding new changes in the GSTR1 tax filing process. This saves time as well as eliminates errors while entering records manually into Tally or QuickBooks software, used by many small businesses to manage their accounts. •Do I need accounting software for my business? Online selling necessitates the usage of Amazon or Flipkart, as well as accounting software that may provide a category-wise commission, among other details, and will automatically generate sales reports, even if you are entering records into Tally or QuickBooks. Accounting software is free for individuals and small businesses and can be used. This accounting software is great for people who offer their products on several platforms, such as Amazon, eBay, and Flipkart.