How to Make Accounting Happy

How to Make Accounting Happy

How to Make Accounting Happy

Wes McMinimy, Business Leader, Amazon Business, presents Amazon Business account features designed to simplify bookkeeping, accounting, and expense management.

As with many aspects of a small business, when creating employee programs and perks, you sometimes have to get creative. We’ve outlined a few ideas and easy ways to use your Amazon Business account to help you support those programs or other programs you develop. Watch the video to learn more, or keep reading below.

Amazon Business Features that Benefit Organizations of Any Size

  • The Amazon Business Account

    Creating an Amazon Business account separates your work from your personal purchases and it makes it easy for you to keep track of everything.

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  • Save time with Amazon Business App

    There’s also an app just for Amazon Business, so you don’t have to switch back and forth between work and personal accounts.

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  • Accounting and Expense Software Integrations

    To simplify bookkeeping, accounting, and expense management, Amazon Business integrates with several software products including: Intuit QuickBooks Online, SAP Concur, Ramp, and Emburse.

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  • Amazon Tax Exemption Program

     

    Tax-exempt businesses can apply for The Amazon Tax Exemption Program.  You can gain tax exemption status in as little as 15 minutes, and up to 24 hours. Once approved, members of your organization can make eligible tax-exempt purchases without the need to contact Customer Support for refunds. 

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  • Business Lists

    To save time, you can create lists of products you buy frequently that you can reference or that you can share with your employees, vendors, or donors, if you have a non-profit. You can share lists inside and outside of your organization.

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Accounting-friendly features for growing organizations

  • Amazon Business Analytics

    If you need more detailed reporting, use the Amazon Business Analytics feature. With this tool, you can filter and pull reports, and you can create custom dashboards/reports, and make reconciliation easy with credit card level detail to track business purchases. We’ve found that many of the small business customers that use Analytics have a small team.

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  • Add multiple users to your Amazon Business account

    You can consolidate all business-related spend across your company into one centralized account by adding users to your Amazon Business account. This helps you simplify expense reports, reduce random spend, and increase visibility and control. Users can keep their own payment method for purchases while allowing visibility into all of the work-related purchases your team makes on Amazon Business. You have access to all order details and can pull receipts whenever needed. You can also assign and change user permissions at any time.

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  • Set Approvals for Orders

    If you are interested in adding more controls to the process, you can create the need for approvals for purchases. You can create buying policies with approvals at the group or account level. You can also create custom approval policies for each employee.

    Approvals can be set on all orders or just orders over a certain dollar amount, and these amounts can be customized and assigned to different approvers. This feature can be configured in many ways.

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  • Business Order Information

    We’ve already covered Amazon Business Analytics, but one feature that is more relevant for teams is Business Order Information. This feature allows you to populate reports with accounting codes like PO number, Cost Center, GL Code, and more. 

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  • Amazon Spend Visibility

    This integrated business intelligence feature is exclusively for Business Prime Essentials and Small members. This feature allows you to visualize buying patterns across your account, identify savings, and limit non-compliant purchases. You can also create custom visualizations and reports for your business needs.  

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  • Guided Buying

    This integrated business intelligence feature is exclusively for Business Prime Essentials and Small members. Guide your team to preferred products or restrict categories, exclusively for Business Prime members. You can also restrict products and categories that need additional approvals

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