A2X wins Xero Americas Industry Specific app of the year

A2X wins Xero Americas Industry Specific app of the year 2018 award

A2X, a cloud application that automates Amazon accounting won top honours in the annual Xero Americas Awards 2018, claiming the Industry Specific app of the year prize.

“The niche focus of A2X has really paid off... no other tool on the market nails Amazon payout reporting like A2X. It's ALWAYS accurate and saves loads of time.” Jeremiah Kovacs, MuseMinded

Xero is a global small business accounting platform which is supported by over 100,000 accredited business advisors and bookkeepers worldwide as part of its network.

Winners were judged based on a range of factors including their innovative approach to solving problems, ability to boost productivity and provide client solutions, strong marketing strategies, certification, and usage of cloud technology to provide value to small business customers.

This year’s Xero Americas awards judging panel included key executives from Xero and guest judge Ranica Arrowsmith - technology editor at Accounting Today.

“Technology provides the power and tools for today’s accountants and bookkeepers to become true business advisors. With the assistance of cloud technology, advisors can help small business owners ease pain points and empower them to achieve success,” says Keri Gohman, President of Xero Americas. “Our winners stand out for their commitment to providing small businesses with the right support and strategic guidance, and we are delighted to award A2X with this honour.”

Before A2X was launched in 2014, the process of accounting for Amazon sales was a difficult and time-consuming task.

“Just like many other winning apps, A2X was born out of the need for a better solution. Prior to developing this technology, founders Paul Grey and Ashley Schroder were running ExportX, a company that helps local producers in New Zealand and Australia to sell their goods on Amazon.” Source: A2X Blog

How does it work?

When a business sells products through Amazon marketplaces, all of its sales, fees and net payout transactions go through an Amazon merchant account, which can be viewed through Amazon’s Seller Central portal.

Amazon regularly - usually two-weekly - pays out a net balance from that Seller Central merchant account. Because of the volume and complexity of transaction line items relating to each payout from Amazon, reconciling sales accounting with net cash received from Amazon can be difficult and time-consuming.

To automate accounting for all these Amazon sales, fees and payouts, A2X connects to Amazon’s systems to fetch the underlying transactions, and generates a summary of the revenue, expenses and other transactions suitable for business and tax accounting purposes.

A2X posts this appropriately summarized information to the business's accounting system. A2X’s Amazon sales accounting makes it easy to reconcile to the bank account payouts received.

Through its partner programme, A2X works closely with specialist e-commerce accountants and bookkeepers worldwide, helping automate their operations and assist them in better serving their Amazon seller clients.

For more information on A2X, visit the website: www.a2xaccounting.com.

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