bambinou
7th July 2009, 10:38
Hi Everyone,
I am trying to set up a french online business in UK but I really need some help with a few problems regarding the V.A.T please/
1)I will be selling songs from unsigned and signed artist all over the world, on each sale I will repay them a royaltie rate.
2)for my website design point of view, I and the programmers are trying to work out the best way to build our admin interface for accounting purposes.
3)Here is the real problem:
I would like to have 3 tables(where all the sales will be added automatically)
sales from:
UK TO UK
UK TO EU
UK TO OUTSIDE EU
Please tell me If I am wrong:
For all sales from UK to UK:
I will have the 15% UK V.A.T inclusive
For all sales UK to EU:
I will also have the 15% UK V.A.T inclusive.
For all sales UK to outside EU:
all my prices will be without V.A.T
Now to repay the royalties:
For all the bands IN UK V.A.T registered:
Self invoice with 15% added on the top of their royalties(so they do no lose out compare to the non V.A.T registered people, this affect a bit our profit)
For all bands in EU but not UK:
V.A.T registered or not I will add 0% V.A.T on the royalties on the self invoice.
For all bands outside EU:
No V.A.T will be added on the royaltie prices.
IN CLEAR:
FOR ROYALTIES REPAID
When the bAND is in UK the invoice will show:
price +V.A.T (ie £0.64 + v.a.t)
When the Band is in EU but outside UK the invoice will show:
price + 0% V.A.T (ie £0.64 + 0% V.A.T)
When the Band is outside EU THE INVOICE WILL SHOW NO V.A.T at all.
Now another table where where all my V.A.T input an output will show:
OUTPUT V.A.T: ALL THE V.A.T charged for the sales of any virtual
product on the site(EU AND UK SALES)
INPUT V.A.T : All the V.A.T paid back to the bands on royalties. (all the people .V.AT REGISTERED)
DO I NEED 2 V.A.T input tables? 0% and 15%?
Now to pull the invoices,my accountant asked me to do this:
A new menu where we can input 2 dates FROM DD/MM/YY TO DD/MM/YY in
which we choose from a drop down menu:
UK SALE INVOICES
or
UK TO EU SALES INVOICES
--->SHOW ALL COUNTRIES(sub menu)
--->SHOW INDIVIDUAL COUNTRIES(HERE WE CAN CHOOSE ANY EU COUNTRIES)(sub menu)
or
UK TO OUTSIDE EU SALES INVOICES
--->SHOW ALL COUNTRIES(sub menu)
--->SHOW INDIVIDUAL COUNTRIES(sub menu)
after the choice being made, all the invoices related to the chosen
parameters will show.
For example:
UK TO EU sales invoices:
---->SHOW ALL COUNTRIES
Will show all the invoices classified by date but from all countries in EU(but not UK).
I will tell you later on in this message why UK is apart..
For all the royalties payments, the same system needs to be in place.
Royalties payments invoices:
UK ROYALTIES PAYMENTS INVOICES
or
UK TO EU ROYALTIES PAYMENTS INVOICES
--->SHOW ALL COUNTRIES
--->SHOW INDIVIDUAL COUNTRIES(HERE WE CAN CHOOSE ANY EU COUNTRIES)
or
UK TO OUTSIDE EU ROYALTIES PAYMENTS INVOICES
--->SHOW ALL COUNTRIES(sub menu)
--->SHOW INDIVIDUAL COUNTRIES(sub menu)
Now I explain why I need all this system in place,
Imagine I have 2 banks, one real(Lloydstsb) AND one gateway, the gateway will not record the V.A.T and all the other parameters at the checkout, this means I need a robust system that keep in memory ll the transactions prior the gateway.
Now what I wanted to do is add all the input and output V.A.T in one box and then add this is quickbooks all in one go instead of inputing all the customers one by one...I am ok to do this?
I will have all the invoices on my system for proofs.
If I have to input all the invoices one by one in quickbooks it will beomce impossible because it might be as high as 100 or 200 transactions per day.
Could you please tell me if my system is good?
I have to create an html version of it today and then pass it to my programmers that will add some hph code to it.
Many thanks all.
BamBam:eek:
I am trying to set up a french online business in UK but I really need some help with a few problems regarding the V.A.T please/
1)I will be selling songs from unsigned and signed artist all over the world, on each sale I will repay them a royaltie rate.
2)for my website design point of view, I and the programmers are trying to work out the best way to build our admin interface for accounting purposes.
3)Here is the real problem:
I would like to have 3 tables(where all the sales will be added automatically)
sales from:
UK TO UK
UK TO EU
UK TO OUTSIDE EU
Please tell me If I am wrong:
For all sales from UK to UK:
I will have the 15% UK V.A.T inclusive
For all sales UK to EU:
I will also have the 15% UK V.A.T inclusive.
For all sales UK to outside EU:
all my prices will be without V.A.T
Now to repay the royalties:
For all the bands IN UK V.A.T registered:
Self invoice with 15% added on the top of their royalties(so they do no lose out compare to the non V.A.T registered people, this affect a bit our profit)
For all bands in EU but not UK:
V.A.T registered or not I will add 0% V.A.T on the royalties on the self invoice.
For all bands outside EU:
No V.A.T will be added on the royaltie prices.
IN CLEAR:
FOR ROYALTIES REPAID
When the bAND is in UK the invoice will show:
price +V.A.T (ie £0.64 + v.a.t)
When the Band is in EU but outside UK the invoice will show:
price + 0% V.A.T (ie £0.64 + 0% V.A.T)
When the Band is outside EU THE INVOICE WILL SHOW NO V.A.T at all.
Now another table where where all my V.A.T input an output will show:
OUTPUT V.A.T: ALL THE V.A.T charged for the sales of any virtual
product on the site(EU AND UK SALES)
INPUT V.A.T : All the V.A.T paid back to the bands on royalties. (all the people .V.AT REGISTERED)
DO I NEED 2 V.A.T input tables? 0% and 15%?
Now to pull the invoices,my accountant asked me to do this:
A new menu where we can input 2 dates FROM DD/MM/YY TO DD/MM/YY in
which we choose from a drop down menu:
UK SALE INVOICES
or
UK TO EU SALES INVOICES
--->SHOW ALL COUNTRIES(sub menu)
--->SHOW INDIVIDUAL COUNTRIES(HERE WE CAN CHOOSE ANY EU COUNTRIES)(sub menu)
or
UK TO OUTSIDE EU SALES INVOICES
--->SHOW ALL COUNTRIES(sub menu)
--->SHOW INDIVIDUAL COUNTRIES(sub menu)
after the choice being made, all the invoices related to the chosen
parameters will show.
For example:
UK TO EU sales invoices:
---->SHOW ALL COUNTRIES
Will show all the invoices classified by date but from all countries in EU(but not UK).
I will tell you later on in this message why UK is apart..
For all the royalties payments, the same system needs to be in place.
Royalties payments invoices:
UK ROYALTIES PAYMENTS INVOICES
or
UK TO EU ROYALTIES PAYMENTS INVOICES
--->SHOW ALL COUNTRIES
--->SHOW INDIVIDUAL COUNTRIES(HERE WE CAN CHOOSE ANY EU COUNTRIES)
or
UK TO OUTSIDE EU ROYALTIES PAYMENTS INVOICES
--->SHOW ALL COUNTRIES(sub menu)
--->SHOW INDIVIDUAL COUNTRIES(sub menu)
Now I explain why I need all this system in place,
Imagine I have 2 banks, one real(Lloydstsb) AND one gateway, the gateway will not record the V.A.T and all the other parameters at the checkout, this means I need a robust system that keep in memory ll the transactions prior the gateway.
Now what I wanted to do is add all the input and output V.A.T in one box and then add this is quickbooks all in one go instead of inputing all the customers one by one...I am ok to do this?
I will have all the invoices on my system for proofs.
If I have to input all the invoices one by one in quickbooks it will beomce impossible because it might be as high as 100 or 200 transactions per day.
Could you please tell me if my system is good?
I have to create an html version of it today and then pass it to my programmers that will add some hph code to it.
Many thanks all.
BamBam:eek: