Amazon FBA is a fantastic way to make money online, but one thing we’ve never really understood is the lack of detail on the Amazon Seller Central dashboard.
It’s virtually impossible to see things such as; the amount of money you’re spending in storage fees, reimbursements due to you and many other vital figures such as your actual return on investment.
When you first start out, a Spreadsheet might be sufficient in keeping a rough idea of things you buy and sell… however as you become a bigger business, this soon becomes overwhelming and will become impossible.
You need an assistant to help with this.
You need Seller Tool Kit.
What is Seller Tool Kit?
Seller Tool Kit, or STK, is an application that Amazon sellers can use to track their profit on sales to the penny. In addition to this, it provides support for sellers in terms of refunds and reimbursements, which Amazon do not make you aware of.
The most work that you will have to do to integrate this, is fill in your cogs sheet.
Although I’m a huge fan of Amazon as an FBA Seller, there’s so much more support that should be provided for sellers on the platform.
We don’t get to see actual figures in terms of Profits, and they rarely advise us when we are due a refund due to an issue on their behalf.
I don’t mean to be making you worried at this, but you could be owed hundreds of pounds from inventory that has been classed as ‘unfulfillable’, when in fact it was damaged in their warehouse.
Overall, SellerToolKit will help you to understand where all of your inventory is, how much profit you have made all in one place. For the small fee that you have to pay, it’s definitely worth it.
How does it Work?
Above is a screenshot of the Dashboard for your Seller Took Kit account. This is the Home page and contains everything that you could wish to see ‘At A Glance’. It Contains:
The Profit Breakdown is displayed at the very top of the page, made famous for it’s coloured rings. This is the part that you’ll get used to looking at, as you’ll be able to see just how much money you’ve made over a specific period.
Let’s be honest, looking at the profits is one of the best things that we can do. Unfortunately, there’s no actual dashboard within Amazon to see this, so I am extremely thankful STK exists so I can see this with ease.
I use Three monitors and I keep this dashboard open, purely because this updates in Real-Time so I can monitor sales performance. At a quick glance, this section shows:
- Profit On Sales. This is the Profit that you have made from the overall sales that you have made. For example £2,000 Profit on sales is £2000 profit. All fees are taken into account.
- Sales. This is the exact amount of sales that your Amazon Account has generated.
- Units. This shows how many Units have been ordered, so you can quickly analyse if your profit has come from one large item, or from frequent smaller orders.
- ROI. This is return on Investment.
- Reimbursements. How many refunds you are due from Amazon, due to an issue in their Warehouse/Processing/Fulfilment Centre.
- Refunds. This is how many customers have requested refunds, not how many refunds you are due.
You will also see other figures such as your Profit Margin, total number of orders and Overdue Reimbursements.
Last Order Placed
This is another really cool feature, but it’s important not to get hooked on it waiting for the next sale. I’ve wasted a few hours doing this!
This will update in real-time, refreshing when another sale has been completed. For each item that is sold, you will see a quick breakdown of:
- Item Specifics. This includes the Item Title, SKU & ASIN.
- The Date & Time of the sale, Marketplace sold on and Quantity of the order.
- Sales Figures. You can see the sale price, cost of goods, fees and VAT. Below this, youw will see the Profit, Return on Investment and Margin on the sold item.
- Inventory Statistics. This is great for a quick glance to see how many remaining sets you have. If you spot a fast seller running low on inventory, you can quickly pick this up here and create an order for more units.
In addition to the above information, you will find ‘Quick Links’ at the top of the dashboard. These are icons which allows you to quickly navigate to specific areas such as Selleramp, the Amazon Listing and a few more handy places.
The next widget that you’ll be drawn to, is the sales breakdown. These handy graphs will give you a heads up about your recent performance, allowing you to check if you are on target.
You can adjust this to show a single day, or a rolling amount of days. I like to set mine to Last 30 days, so I can set a goal and aim to beat it, by month end.
Fees Breakdown & P&L Sheet
Continuing with our overview of the dashboard, the next tiles that you will see are the FBA Fees and the P&L Sheet.
This helps you to see your margins, understand what fees you are paying, any reimbursements that have been released to you plus your overall profit figures.
Full Inventory by Category
One of my favourite parts about this dashboard is the inventory management screen.
The Amazon seller central account is far too basic to show this information, which is a bit of a shame. Fortunately, Seller Tool Kit pulls it out of the bag here.
It’s really useful to see where your items are at a quick glance. I’ve found myself sometimes wondering why my stock isn’t selling, only to see it stuck on researching or transfer.
For example, I’m actually thinking sales are a little slow at the moment. However, the items that I’m waiting to be delivered are worth more than the items I currently have for sale, so I’m working at half the efficiency!
Although not ideal, you can’t help shipment delays. It just delays the boom period for another week I suppose.
In addition to viewing all of the above on your homepage, you will be able to see your Top Sellers, listed by their highest profit. It would be a car-crash for my account If I were to show this area off, as my listings may plummet.
How to Claim Reimbursements
Another fantastic feature on Seller Tool Kit is the Reimbursement warnings. Believe me when I say, STK is worth the fee for this alone.
I’ve had 12 Reimbursements in February, to the estimated total of £295. Without this, I wouldn’t have been able to claim as I simply wouldn’t know they are damaged or lost.
If you’ve been selling on Amazon for a while and haven’t been using STK, just think of how much you’re due in refunds!
Does STK work?
SellerToolKit works great. It shows you the exact information that you need when selling online. The data syncs really fast and the information available will save you so much time, it’s easily worth the cost.
How Much does it cost?
There are Three Subscription Levels to Seller Tool Kit & it all depends on the amount of data that you’ll be entering.
For a seller that makes 3,000 orders or less monthly, it will cost £32.99
It’s £53.99 for a Maximum of 6,000 monthly sales and anyone over 6,000 monthly sales can also request a tailored price plan depending on their order volume.
You will also get a 14 Day Free Trial, which you can take out here. I’d always advise using anything Free, so get signed up!
Benefits of Using Seller Tool Kit
- You won’t have to spend time viewing eye-sore reports on the Amazon Seller Central account. All of this information is available under a simple dashboard.
- It’s easy to access, easy to setup and easy to use.
- You can easily check information on the go using a Mobile Device.
- You can claim refunds back from Amazon! Over the long term, you will make money from paying for this subscription.
Seller Tool Kit Review: Final Thoughts
When I first signed up to Seller Tool Kit, I thought that the graphs and charts were a bit old looking and simple.
However, I soon realised that this is exactly what I needed. Why spend time looking at fancy charts, when all I want to do is login, view my figures, contact Amazon for some reimbursements and then log back out!
You won’t be disappointed with SellerToolKit. Their development team are always upgrading things and taking feedback on board, to make things run even smoother.
I’m really glad I found SellerToolKit. I’m sure you will be too.