Skip to main content
All CollectionsLink My Books for AmazonFAQ's
How to match your 1099K figures up with Xero or QuickBooks
How to match your 1099K figures up with Xero or QuickBooks

Matching the Amazon 1099K figures with Link My Books figures

Daniel Little avatar
Written by Daniel Little
Updated over a year ago

If you're selling on Amazon North America and your business is established in the US then Amazon will send you an annual summary called "1099-K" of your processed payments for that year through the platform.

1099-K is only issued to sellers who made over $20,000 in over 200 transactions on Amazon North America.

The 1099-K can cause some confusion with sellers when it comes to reconciliation against their figures showing in Xero or QuickBooks. In this article we will cover how to reconcile your 1099-K against both the Amazon Date Range Reports and also the figures in Link My Books.

Reconciling the 1099-K figures against Amazon Date Range Reports

When you receive your 1099-K from Amazon it will look something like this:

The second page will include a table like this:

To validate these figures directly in Amazon, you can use the Date Range Reports page to generate summary reports for a specific date range.

To generate a date range report, follow these steps in Amazon Seller Central:

  1. From the Reports link, select Payments

  2. Select Date Range Reports. You will need to generate a report for both Standard and Invoiced orders (if applicable).

  3. Click Generate Report

  4. In the Generate date range report pop-up box, proceed as follows:

    1. Select report type: Transaction

    2. Select reporting period: Month or Custom, and the specified date information

    3. Click Generate

  5. Review your report in the list on the Date Range Reports page

  6. Filter the type column by Order

  7. Add the total of Product Sales + Product Sales Tax + Shipping Credits + Shipping Credits Tax + Gift Wrap + Gift WrapTax + Promotional Rebates + Promotional Rebates Tax for both Standard & Invoiced Orders (if applicable).

Reconciling the 1099-K figures against Link My Books summaries

Link My Books has a built in 1099-K reconciler feature. This makes it super easy to verify that the figures being pushed to your bookkeeping system by Link My Books line up exactly with the 1099-K figures.

To reconcile your 1099-K figures with Link My Books summaries, follow these steps inside the Link My Books app:

  1. From the Accounts & Taxes menu, select 1099-K Reconciler

  2. Select the Year you want to reconcile

  3. Generate the reconciliation report

The generated file is a CSV file showing all the lines that formed part of the Link My books summary settlements for the year that you selected.

Note that the generated file contains only settlements that are showing in your Link My Books. Eg. if you generate the file for 2022 but you only have settlements showing in Link My Books for September-December 2022, then we can only include those months.

The generated file will look something like this:

The easiest way to validate the figures is to generate a pivot table from the raw data.

To generate a pivot table in Excel, follow these steps:

  1. Highlight all the data showing in the file

  2. For the Insert menu, select Pivot Table

  3. Click OK to accept the Table/Range and the placement of the pivot table in a new worksheet

  4. From the PivotTable Fields box, drag the channel to the Filters section

  5. Select from the filter the Amazon Marketplace you wish to reconcile

  6. From the PivotTable Fields box, drag the description to the Rows section

  7. From the PivotTable Fields box, drag the amount to the Values section

  8. Filter the Row Labels column to show only the descriptions listed below:

Amazon Sales - Principal

Amazon Sales - Shipping

Amazon Sales - Gift Wrap

Amazon Sales - Principal (Marketplace VAT Responsible)

Amazon Sales - Shipping (Marketplace VAT Responsible)

Amazon Sales - Gift Wrap (Marketplace VAT Responsible)

Amazon Sales - Promotional Discounts (Marketplace VAT Responsible)

Amazon Sales - Shipping Promotion (Marketplace VAT Responsible)

Amazon Sales - Principal Marketplace VAT Collected

Amazon Sales - Shipping Marketplace VAT Collected

Amazon Sales - Gift Wrap Marketplace VAT Collected

Amazon Sales - Shipping Promotion

Amazon Sales - Promotional Discounts

Amazon Sales - Promotional VAT/Tax Discount

Amazon Sales Tax - Sales Tax (Gift Wrap)

Amazon Sales Tax - Sales Tax (Principal)

Amazon Sales Tax - Sales Tax (Shipping)

Note that you may not have all the above transaction types in your file as this depends on if you have had any Busch transactions pass through your Amazon account.

When you're done it should look something like this:

As you can see the final figure showing is $118,149.31 which matches our figure on the 1099-K.

Here is a video showing the full pivot table process:

Reconciling the 1099-K figures with QuickBooks

To reconcile the figures in your QuickBooks account with the 1099-K figures you can use the Transaction Detail by Account report.

To download the Transaction Detail by Account report, follow these steps in QuickBooks:

  1. From the Reports menu, select the Transaction Detail by Account report from the For my accountant section

  2. Select Customize

  3. Set the Report period date range as the year of your 1099-K

  4. Under Filters select Distribution account and then check Amazon Sales and Amazon Sales Tax

  5. Under Filters select Customer and then check the Amazon Marketplace you wish to reconcile

  6. Click Run Report

From the Reports menu, select the Transaction Detail by Account report from the For my accountant section:

Select Customize:

Set the Report period date range as the year of your 1099-K:

Under Filters select Distribution account and then check Amazon Sales and Amazon Sales Tax:

Under Filters select Customer and then check the Amazon Marketplace you wish to reconcile:

Click Run Report and you should end up with something that looks like this:

Click the export icon and select Export to Excel to download the report.

Once you have the report downloaded open it in Excel or similar and follow these steps to reconcile the data with your 1099-K:

  1. Apply a Filter to the row containing the column titles

  2. Filter the Memo/Description column to show only the transactions below

  3. Sum up the Amount column and it should match the total showing on your 1099-K

Amazon Sales - Principal

Amazon Sales - Shipping

Amazon Sales - Gift Wrap

Amazon Sales - Principal (Marketplace VAT Responsible)

Amazon Sales - Shipping (Marketplace VAT Responsible)

Amazon Sales - Gift Wrap (Marketplace VAT Responsible)

Amazon Sales - Promotional Discounts (Marketplace VAT Responsible)

Amazon Sales - Shipping Promotion (Marketplace VAT Responsible)

Amazon Sales - Principal Marketplace VAT Collected

Amazon Sales - Shipping Marketplace VAT Collected

Amazon Sales - Gift Wrap Marketplace VAT Collected

Amazon Sales - Shipping Promotion

Amazon Sales - Promotional Discounts

Amazon Sales - Promotional VAT/Tax Discount

Amazon Sales Tax - Sales Tax (Gift Wrap)

Amazon Sales Tax - Sales Tax (Principal)

Amazon Sales Tax - Sales Tax (Shipping)

Note that you may not have all the above transaction types in your file as this depends on if you have had any Busch transactions pass through your Amazon account.

If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].

Did this answer your question?