How To Maximize Your FBA Refunds

No one wants to miss out on the cash they are owed, but this is exactly what happens when you fail to claim your Amazon FBA refunds.

You might not know it, but Amazon regularly makes errors that can impact your bottom line. You might assume that Amazon will automatically correct these mistakes, but this is not necessarily the case. In reality, you must file for an Amazon FBA refund if you want to get all of your money back. 

Here, we will explore the types of discrepancies that merit an FBA refund —and how you can maximize your refund.

How do Amazon FBA refunds work?

Amazon handles storage, shipping, and customer returns for FBA sellers, and usually, everything goes smoothly. However, even Amazon makes mistakes and when this happens you may be eligible for compensation. There are a variety of situations that merit an Amazon FBA refund such as the following:

• Damaged inventory: If one of your products is damaged in Amazon’s fulfillment center you should file an FBA refund claim. To find out if any of your products have been damaged you should review the Damaged Inventory Report in your Seller Central account. This report will list all relevant issues from the last 30 days.
• Lost inventory: Understandably, items sometimes go missing in Amazon’s care. However, you are entitled to an FBA refund when this happens. This is another great time to check out the Damaged Inventory Report in Seller Central as it will note missing products.
• Improperly credited returns: Now and then Amazon may fail to credit your account appropriately after a customer returns. When this happens you should file a claim to get back your money. To find out if you are owed this type of refund you can perform an Amazon audit of your account. This will determine if a customer return has resulted in a loss for your business.
• Fee overcharges: Although fees are part of FBA selling, you could be getting overcharged, especially if Amazon uses inaccurate product measurements to calculate shipping/storage. Make sure you have the correct product dimensions on hand when you make this type of FBA refund claim. Keep a keen eye on your records to catch any fee overcharges that occur. 
• Destroyed inventory: You might not be aware that Amazon has the right to destroy or dispose of your items without notifying you. You should claim compensation in such cases by filing for FBA reimbursement. Take care to regularly check your Amazon Seller account for this type of discrepancy as there is no automated process for this issue.

Claiming your Amazon FBA refund

As you review the issues above, you might be wondering if claiming your FBA refund is worthwhile. After all, you will need to diligently audit your account records and continually check many small details to find discrepancies. 

What you should know is that Amazon sellers typically lose 1% to 3% of their annual revenue due to discrepancies. This might sound small at first, but it means that sellers with one million in revenue will say goodbye to $10,000 to $30,000 every year. Imagine what adding this amount of cash to your bottom line could do for your business. You can probably think of better things to do with this money than throw it away. 

So, how should you approach the task of filing FBA refund claims? Depending on your preferences, there are a few options to consider:

1. Claim independently: You may opt to complete your FBA claims process on your own, but you should be aware that conducting a thorough account audit can be time-consuming. To acquire a full refund, you will need to review many reports and meticulously scour them for discrepancies. If you leave stones unturned, you could miss out on cash that Amazon owes you. Take a moment to consider whether you can commit this amount of time and energy to filing FBA refund claims. As an entrepreneur, you have many responsibilities and tasks crying out for your attention. It can help to think of your time as a resource for your business —which means spending it wisely.

2. Hire a Virtual Assistant (VA): Another option is to hire a VA to file your Amazon FBA refund claims for you. Although delegating tasks can be a good move for FBA sellers, you must be cautious when selecting an individual to handle your FBA refund claims. If you choose an inexperienced candidate, they may miss discrepancies and cost you money. The individual you choose must also be trustworthy as they will have access to your account details.
3. Enlist Getida (Get Intelligent Data Analytics): As the largest FBA refund specialist, Getida will maximize your FBA refund while saving you time and energy. Using state-of-the-art software Getida will conduct a comprehensive audit of your records, identifying all discrepancies. Next, Getida’s dedicated case managers will pursue your FBA refund on your behalf, communicating with Seller Support as needed. This means you will get results fast —without dividing your valuable attention.

The best part is that Getida does not charge you anything until your refund has been obtained. You will pay a percentage of any FBA refunds that Getida successfully secures, and the first $400 is entirely free of charge. This means you will come out ahead financially without any of the headaches of hiring a VA or filing on your own.

It only takes a few minutes to sign up with Getida. After that, you can download Getida’s free dashboard where you can get a free estimate of your FBA refund.

Going forward and maximizing your FBA refund

You should never underestimate the value that Amazon FBA refunds can add to your business. Remember that there are many different types of discrepancies that merit reimbursement. 

To maximize your FBA refund you need to keep a sharp eye on your account. Rather than taking on this task alone, consider enlisting the help of the experts at Getida. While you attend to the rest of your business, Getida will handle the entire FBA refund process. What would you do with your extra cash once you are refunded?

You can begin today by signing up to get Getida working on your Amazon FBA refund.