Why you should be using Amazon Business for your Business.
It sounds obvious, but you’d be surprised at the number of Businesses still using personal accounts to make purchases. While it may seem like the easy option to put everything through the same account, it does cost time and money later down the line to separate these purchases out and making sure your accounts are correct. Here’s why we’ve switched to Amazon Business and why you would benefit too.
Make sure you’re reclaiming VAT.
Ensure you are ordering from VAT registered suppliers by filtering sellers with downloadable invoices so you’re not missing out on reclaiming any VAT. The invoices are available to download in bulk and already populated in your Amazon Business account. Not ordering from VAT registered suppliers could currently be costing you ~20% more!
Add multiple users with different levels of control. Our clients find this helpful for giving some of their team the ability to order from Amazon Business as well as giving us access to make sure we can retrieve all their invoices easily to reconcile. Gone are the days of password sharing, access codes by text and blocked accounts – yay!
No Additional Apps
It’s super simple to switch between your personal Amazon account and your Business account, but there are enough steps to make sure you’re not accidentally ordering on the wrong account:
· Select the menu button in the app.
· Select Settings and Switch Accounts
· Select your Business Account and start shopping!
Dext (Receipt Bank) has a cool feature that allows it to connect with 100’s of suppliers and will automatically ‘fetch’ your invoices from your Amazon Business Account and add them to Xero for you. There’s a lot that goes on in the middle of that process, but the most important part is that your business purchases and your personal purchases will be kept separate, and your bank reconciliation will be beautiful.
It just makes life a bit easier
And who isn’t up for a bit less faff? Using Amazon personal accounts for business purchases is notoriously fiddly. Having multiple users logging on to the same account, from multiple locations, using different payment methods and sometimes even for different businesses is going to cause a few bumps in the road. We promise we’re not sponsored by Amazon Business and we’re not getting any kickbacks from this post; we just want your bookkeeping process to run as smoothly as possible and this solution from Amazon looks like it’s going to help.
Here’s more information and a link to sign up for Amazon Business