If you link your Amazon Pro-Merchant account to GoDaddy Bookkeeping, and you link the bank account where the disbursements end up in GoDaddy Bookkeeping as well, there are three easy steps you should follow to make sure your profit is accurately stated:
- View the disbursement transaction in GoDaddy Bookkeeping. Log into your GoDaddy Bookkeeping account here. Once in, go to the bank account you have your disbursements going into to by clicking on the account on the top left hand side of the screen under Money I have.
- View the category the disbursement transaction is under. You may need to filter the list to see only the disbursement transactions. Select Amazon as your Payee to filter them. If the category listed on that transaction is not a Transfer In, then your income will be counted twice, as it was already counted once in your Amazon account.
- Categorize the disbursement transaction properly. You can do that by clicking on the transaction, selecting the Transfer In category in the drop down menu Category, and clicking on Save.
(NOTE: If you want to classify all future transactions like this transaction with that category you can do that by clicking on the Apply to all... checkbox in the yellow box that appears, be sure this is right type of transaction before you do this)
Doing this will make it so your income is properly classified in GoDaddy Bookkeeping, and your profit is accurately stated. Which we will be a life-saver for you come tax time.