Amazon Vendor Central: Simplifying Payments and Invoices
Navigating through payments and invoices in Amazon Vendor Central can often be a complex and time-consuming process. But fear not! We're here to demystify the steps involved in reading and reconciling payments.
Let's start by breaking down the key categories you'll encounter under the Payments tab:
CoOp Payments: These charges are agreed upon between Amazon and the supplier to cover marketing and sales promotion costs. Amazon periodically creates invoices for the supplier, deducting the agreed-upon amount from the total payable. These invoices reference the original agreement number, ensuring transparency and clarity.
Invoices: Suppliers can upload invoices through the Vendor Central portal. These invoices have different statuses, such as Submitted, Paid, or On Hold. Keep an eye on this section, as Amazon may put invoices on hold and request proof of delivery. Suppliers are responsible for providing the necessary documentation when needed.
Remittances: This section provides the crucial details of payments released by Amazon. Remittances often combine multiple invoices and deductions, so it's essential to carefully review each one. Suppliers should promptly address any discrepancies by creating disputes. Don't forget to double-check negative payments (deductions)! Ensure they are accurate and align with your records.
Understanding Negative Payments (Deductions):
Negative payments can have various reasons, including:
CoOp Deductions: Marketing charges agreed upon with the supplier.
Shortage Supply: When the received quantity is less than the invoiced quantity. These invoices typically end with "SC." For example, if the original invoice number was 50001, a shortage supply invoice would be labeled as 50001SC.
Chargebacks: Amazon chargebacks can occur for several reasons. Detailed information regarding chargebacks will be provided in this section. Each chargeback appears as a separate invoice with a negative amount, identified by the "CB" (Chargeback) tag.
In summary, remittances encompass all these details, combining invoicing, deductions, and chargebacks into one comprehensive release. For instance:
Invoice 50001: $50,000
Invoice 50002: $20,000
Invoice 50003: $15,000
Invoice 6403-15: -$7,000 (Co-op deduction)
Keeping track of deductions and identifying missing elements is crucial. In the pursuit of automating payment reconciliation, manual efforts can be time-consuming and prone to errors. However, by implementing EDI Payment Reconciliation (EDI 820), you can effortlessly monitor and update payment information automatically.
Introducing TPSynergy - an Amazon Payment Reconciliation System that streamlines the entire process. With TPSynergy's EDI process, invoices are promptly sent as soon as shipments are made, ensuring a comprehensive record of outstanding invoices. When remittance advice is received through EDI, these invoices are automatically marked as paid, along with the updated payment amount. This innovative solution greatly minimizes manual labor, enabling seamless payment reconciliation with Amazon.
By simplifying the structure and providing engaging insights, we hope to empower you in effectively managing payments and invoices within Amazon Vendor Central. Happy reconciling!
Comments