- Hi, and welcome back to another Amazon selling video.
My name is Nikki Kirk,
and I am out here on the farm and I'm so excited.
We are here for a week I think? I'm not really sure,
but I'm really excited and I'm very happy to be back.
Like not knowing where I'm going next and just going with
the flow.
Enough about me, I know what you're really here for is
everyone's favorite topic. How do you get paid?
So today I'm just going to walk you through the Amazon
selling payments dashboard,
as well as tell you some things that I have noticed over the
three years selling on Amazon when it comes to payouts.
So I'll walk you through the new payments dashboard.
If you're a new seller, this is probably all you've known,
but recently they updated it or like maybe two or three
months ago, they updated the payment dashboard
to where it looks like this.
Personally, I find it less helpful, but hey,
it looks cool.
So this is not mine.
Just want to make that clear. This is not mine.
There's a photo I found on Amazon seller central.
I was trying to find a photo to show you guys.
So here is how it looks from the very top.
You've got your net proceeds such like everything combined.
So the beginning balance, this one is zero,
but if you had anything that carried over
from the past week, it would be here as your beginning
balance because the way it goes on Amazon
is every two weeks.
So every two weeks you have a new settlement.
And so that's the beginning balance from the reserve for
last week, but I'm jumping ahead a little bit.
It'll make sense, promise.
So the beginning balance is just everything that rolled over
the sales are the sales that you've had in this period.
This is going to be the product sales like the literal
cost the customers paying, any taxes Amazon is collecting
on your behalf for the few states that do not collect sales
tax. I have another video which I'll link here,
which goes into which states are collecting.
Any kind of promo rebates.
I don't think this really goes to RA,
but that would be be there, as well as any shipping that the
customer paid.
So if you're doing FBM and the customer's paying for
shipping, this would be in there as well.
And the last thing you'll see in this sales number here is
any Amazon reimbursements.
So if Amazon lost or damaged your inventory,
they will reimburse you for it.
And that is something that you'll see there.
Then we go into refunds. It's pretty obvious, right?
It's a customer refund.
And it might be shipping. If they had to pay shipping,
you have to pay for the shipping back.
So any refunds that come back they're either Amazon FBA or
FBM will pitt there. Now we get to the expenses.
So this is where your Amazon selling fee,
if you're a professional account, comes out of.
The commissions that Amazon charges, the referral fees,
all those kinds of things that go along with selling on
Amazon. This is where you're going to see all of those hit.
If you do any PPC paid advertisements on Amazon, I don't.
But if you do, you would also see it right there.
So if you're brand new and you're just starting,
the expenses is what's going to get charged to a credit card
that you put on file.
But I only had to pay an expense one time,
the $39 for the Amazon professional fee.
Every other time, it's always come out of my Amazon,
like money, my pile of money sitting in Amazon.
So it comes out of there. So I don't really like see it.
I don't pay it in a sense. I mean, I am paying it,
but it's not like I'm paying it.
It's not something that shows up on my
credit card statement. If that makes sense.
And the last thing I'm going to show you didn't show up on
this one because it didn't take a screenshot far enough.
So here is a European version, but you'll see here,
the account reserves.
So the account reserves are everything that Amazon is
holding back from paying you for various reasons.
If you are a brand new seller,
your reserves will be larger than as you get established.
So now my reserves are pretty low,
but in the beginning you don't get paid out as quick.
And they're holding that money back in case a customer
returned.
So then they have the money to give back to the customer.
So they are really holding it to protect the customer
because Amazon is all about the customer as you should be as
a seller on Amazon.
So that's where you'll see the reserves.
The reserves carry over at the end into their
beginning balance.
So that's really where your beginning balance and your
reserves come into play.
So they kind of carry over into the other one.
So from your beginning balance,
new things will get added as it's being sold.
And then some will be held back as reserves.
At any time, you can request a payout from Amazon.
There may not be money there, but you can always request it.
So this one right here, here's the example.
It says right here, funding available zero.
And it says, now if I could,
I can't click this because it's a photo,
but if I could click it, it would say end settlement date.
And you could pick that. And then that amount will usually,
or actually will match the amount that you'll see on your
seller app, because that's the amount that's coming out
and it even tells you the date.
So I'm going to try and explain it a little further.
So bear with me. So here is what I've noticed.
So say my payout was Monday the 21st.
That's when Amazon says they're going to pay me.
Amazon pays every two weeks.
They'll send you whatever money they owe you.
Before this, it would have been Labor Day,
and the next payout will be October 5th.
Let's say on the 21st, they paid me
whatever money they owed me.
Now it's going to tell me after it,
it takes like an hour or so to process it it'll say zero for
awhile, but then it will process.
And it'll say my new balance,
that's going to get paid out on October 5th.
Now here's what I've noticed.
Every new thing that sells and ships,
you don't get the money in your account until it ships.
Either Amazon shipped it or you shipped it.
So when it ships,
it'll go into your available account for this settlement,
from that Monday until about Friday.
So on this example, it would be the 25th.
So anything that ships that week will go into the
5th of October's payout.
After that Friday,
you'll notice that that memory no longer keeps going up.
And it's going into the next payout,
which is two weeks from the 5th of October.
I'm not that quick, but whenever that is,
so then it will go into that as the new beginning balance.
So that's just something I've noticed.
I hope it's helpful for you.
Now if I decided, so say they paid me on Monday the 21st,
and then I decided that I wanted to ask for a payout
now on the 24th, I can get whatever money.
It won't be as much as if I waited 'till October 5th,
but I can still ask for it.
When I do that though, it's now going to push my balance out
the next payday to October 8th,
two weeks from the date I requested it.
So that's just good to keep in mind.
Sometimes I wait two weeks.
Sometimes I get in the habit of doing it every Monday.
Honestly, I really like sticking to Monday
because I know that if I request it or it just pays me
on Monday, it'll be in my bank account by Wednesday
because my bank is slow.
Some banks, it could be there by Tuesday,
but that's how it goes.
That's how pitt getting paid works on Amazon.
Hopefully that made sense to you. And wasn't too confusing,
but just know that you can get it any time,
but it's going to push out your two weeks.
I recommend waiting as long as you can,
either that whole two weeks or just till a week out.
So they could get as much back as possible without like
continuing to push it over into the reserve.
So hopefully that was helpful.
If you need more help from me,
you are very welcome to join my BOLO group,
where we are sharing leaves that we were finding in real
time this month that you can be on the lookout for.
TI also have my Ungating guide and my Q4 guide.
I have a bundle where you can get all three of them,
or you can just get the Ungating that you want.
If you need an Ungated in toys or topical, OTC grocery,
those are two separate guides,
or you can get them both together and save money,
but they are made for new sellers.
You don't have to have ever sold a single thing and you can
get Ungated, but as always,
I'm here to help you no matter what.
So definitely leave a comment or drop me an email.
If you need any help, I will do my best to help you out.
Thank you guys so much for watching.
I will see you back here for another Amazon selling video.
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