Recent content by Billett

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    VAT Periods - Online Sales

    Actually have now got the site syncing to quickbooks. which has worked, setup a new register for the payments and job done all sorted
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    VAT Periods - Online Sales

    We use quickbooks Online and run accrual. I was doing it in the same method that something like Linkmybooks would do for us with Aamzon Payout. Amazon for example will take all the transactions and dump a single payment at the end of the month in our bank. Linkmybooks would then create a...
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    VAT Periods - Online Sales

    Yeh the transaction date is the date the payment was made, but its more about the payout which is a lump sum of multiple transactions. Unless i'd have to split every transaction out of a settlement file which would be crazy.
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    VAT Periods - Online Sales

    Probably answered my own question the more i think about it. The payout is a monthly payout running up to 31st Dec, so should fall in the last VAT period.
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    VAT Periods - Online Sales

    Hi, Probably a quick one (have emailed my accountant but he's away) Received a payout for transactions made in December on my online store today (2nd Jan) VAT Period ended 31st December. I've added a journal entry today as i received payment today, but as the transactions were all in last...
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    Legacy insurance

    Sole trader
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    Legacy insurance

    Hi, Would someone point me in a direction that I could get some legacy run off insurance. I closed my business a year ago and read I should have kept my insurance running. My current broker said he can't help me in this area. Would anyone know where I can look? It's just retail liability...
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    Advice needed on Ebay sales on invoicing/book keeping

    I was following a guide on YouTube for recording it in a separate account, then sales receipts and so on. Become time consuming and ended up moving to Linkmybooks recently. I use it for my Amazon account mainly, but would highly recommend it
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    Have any of your past businesses failed, and if so, what made you try again?

    I have 1 failed (dissolved) business behind me from when I was younger. It failed because due to lack of time and then also having the market I was operating in closed off to me. This meant the growth opportunity was very low without more work that was strictly necessary for the gains. The...
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    Limited Company Year End Closing Stock

    Thanks. Yes being small it was something I didn't even think about until now. Im moving the business from a small scale ecommerce business to a wholesale business. Most of my stock has been held elsewhere where I can pull inventory reports which has been nice for this year end experience and I...
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    Limited Company Year End Closing Stock

    Thank you. Realistically I would want to write it off this year based on it being stock we dont plan to sell due to business direction changes and therefore would reduce my tax liability, I do have an accountant, but feel i have bugged them a hell of a lot on other issues over the last week or...
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    Limited Company Year End Closing Stock

    Its 28% of my total stock - monetary value is circa £1.2k, so i'm going to count it.
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    Limited Company Year End Closing Stock

    I'll probably just give them the value and get them to add it for me. I've been trying to do as much of my book keeping as possible. I'm likely to get a nice bill from the accountants for the questions i keep asking lol
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    Limited Company Year End Closing Stock

    This is what confuses me a little more. If doing an annual stock check for example at year end how would my accountant ask me where they went. What would tally up sales of said item, against the stock shrinkage for them to query a single product? I'm just curious on this one. Obviously in...
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    Limited Company Year End Closing Stock

    Thanks. i'm accounting for it this year, just wondered what to do for its post. I could sell it cheap, but its not worth the time/effort so was planning to disposes
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