3 Reasons Amazon Owes you Money with Amazon FBA Reimbursement
Discrepancies are missing amounts of money that are owed to you called Amazon FBA reimbursements.
Amazon is a well-oiled machine that stores your products using industry-leading technology, ships them out in record time, and is the most trusted online shopping source for your customers.
With the eCommerce marketplace running at full speed 24/7, it’s expected that errors can and will occur. If you’re wondering how the eComm giant could allow your money to slip through the cracks, it’s time to dial into this article to find out more.
What is an Amazon FBA Reimbursement?
When your inventory is lost, damaged, destroyed, disposed of, or affected by an overcharge of fees, this is known as a discrepancy. When a discrepancy occurs, you qualify for an Amazon FBA reimbursement, which is owed to you by Amazon.
Sellers may or may not be aware an Amazon FBA reimbursement is owed, or the process of making an Amazon claim or performing an Amazon audit is too complex or time-consuming to manage.
What Types of FBA Reimbursements Exist?
Amazon FBA reimbursements range from lost and missing inventory to overcharges of fees and more. Below we will break down the top three reasons your money may be missing.
1. Customer Returns and Refunds
Did you know that Amazon has an incredibly high return rate? If you’re a newer seller, you may not know that Amazon favors the customer in nearly all cases. This means that, at times, a return is processed without requiring the item sent back. While this scenario qualifies for reimbursement, because of the volume of returns Amazon handles, your Amazon FBA reimbursement may not be automatically processed.
Just like the returnless refund scenario, a customer can also be refunded accidentally more than they were charged, affecting your selling account balance. In some scenarios, Amazon waves the 30-day return policy and allows a return outside of this window. You qualify for FBA reimbursement of all of the above scenarios and a few not listed here.
It’s crucial to understand what is happening with your returns and perform ongoing Amazon audits to reconcile these Amazon claims.
2. Lost, Damaged, and Destroyed Inventory
Considering the sheer volume of inventory Amazon is storing, shipping, and receiving, it’s understandable that inventory will, unfortunately, go missing.
Inventory can be damaged on transit to an Amazon FBA warehouse or can get lost in receiving. There are also times where a carrier damages inventory purchased by a customer, en route to the customer, or in the return phase. Lastly, there are occurrences where inventory is said to have shipped out to other marketplaces in multi-channel fulfillment but is never received.
Missing inventory can also be damaged inventory or destroyed inventory that was destroyed without a seller’s permission.
While these instances are frustrating, it’s important to note that each qualifies for Amazon FBA reimbursement.
3. Overcharge of Fees
Accounting is everything to your Amazon FBA business, and yet you may not realize the scope of discrepancies that can impact your seller account balance. Your seller fees can be incorrectly charged for incorrect weight and dimensions of your products, or you can be issued a chargeback that is not correctly reimbursed by Amazon.
Other overcharges in fees include incorrect Amazon FBA reimbursement in where an Amazon claim was approved, but you never received the FBA reimbursement to your account.
These are simply a few of the Amazon FBA reimbursement overcharges that you may experience. Staying on top of your Amazon FBA reports and understanding the charges on your account is crucial to the growth of your business.
How Can You Get Back the Maximum Amazon FBA Reimbursement you are Owed?
There are a few ways to navigate Amazon FBA reimbursements, and each will depend on your business size and structure.
1. Do it Yourself
You can choose to file your own Amazon claims and perform your own Amazon audits if your Amazon FBA business is smaller and your product SKU line is limited.
It becomes more challenging for larger sellers to navigate the onslaught of FBA reimbursements independently as their product catalog grows and larger quantities of inventory are present.
Keep in mind the time it may take to navigate Amazon seller support and the back and forth communication that FBA reimbursements require.
2. Virtual Assistants
You can hire a VA to manage and submit your Amazon claims, but be mindful that a lack of experience can mean you don’t receive the maximum refund you may qualify for. Virtual assistants with experience in Amazon may handle the complexities of the FBA reimbursement process, but not every VA will be equal.
Account health should be paramount when deciding whom you outsource your Amazon FBA reimbursement management to, so be sure to ask for appropriate information about the experience level and get references or seek a reputable agency to hire from.
3. Amazon FBA Reimbursement Solution – GETIDA
For any sized seller navigating FBA reimbursements is time-consuming, detailed orientated work that requires ongoing communication with Amazon seller support.
GETIDA is the global leader in Amazon FBA reimbursements. GETIDA performs Amazon audits going back up to 18 months to review all of your transactions for discrepancies.
The GETIDA case management team is composed of former Amazon employees who worked in the Amazon reimbursement department. This is a vital component of the GETIDA solution as the team members are fueled with experience. They know what to look for, how to find it, and importantly how to present it to Amazon on your behalf. The case management team handles the entire back and forth between you and Amazon so you can focus on other essential elements of your budding Amazon FBA business.
The nice thing about GETIDA is that they are found on the Amazon app store and part of the Amazon Service Provider Network. This means they have been fully audited by Amazon to perform the tasks they perform, and they are approved by Amazon to do so.
Your account health is everything, and GETDIA follows all terms of service to ensure you receive the maximum reimbursement you are eligible to receive.
A pay-per-recovery fee of 25% is only initiated once all funds have been recovered.
GETIDA performs billions of Amazon audits daily and uses a manual submission process to ensure your Amazon claims are filed appropriately. The goal is always the maximum reimbursement you are eligible to receive!
eCommerce is growing faster than most could have imagined possible; some estimates are close to 30% yearly.
While eComm grows and Amazon flourishes, know that roughly 1-3% of your transactions on Amazon will be affected by discrepancies which is a large portion of your cash flow.
It’s vital to your business that you navigate Amazon FBA reimbursements effectively so you can grow your business to new heights.
Curious about GETIDA? Get $400 free in FBA reimbursements.