Recent content by fab4

  1. F

    Ideal inventory mix

    Once the number of SKUs in the inventory hits a certain threshold of 200+, it seems almost a wast of money to store products of each and every SKU in my warehouse. It's dead money because I figured no matter how much research and optimisation I do, the 80/20 rule applies. Only a small fraction...
  2. F

    Invoices - record keeping when ordering online

    Is the order confirmation email together with my bank statement showing the transaction sufficient or does the invoice have to fulfil certain requirements? The order confirmations I have from some online shops outline the item, quantity, amount, shipping, order number. But it does not say...
  3. F

    Invoices - record keeping when ordering online

    If I am ordering supplies online, e.g. office supplies from Amazon or spare batteries, I realised that sellers won't send me a paper invoice. All I have is an email confirming payment/ order details. How does this work with record keeping? Should I keep the emails and also upload a screenshot...
  4. F

    Which accounting method do you use/ did you use when starting out

    This question goes out to all small online sellers who are just starting out/ are in business but below the VAT threshold. I'd be also interested in votes from bigger sellers. What do you think is the best accounting method for start up online merchants.
  5. F

    Cash basis vs. accrual accounting for online seller

    Operating as a sole trader.
  6. F

    Cash basis vs. accrual accounting for online seller

    What is the recommended accounting method for small (below VAT threshold) online merchants. Which method is the simpler, more straight forward one and which method will give me the best picture of my company?
  7. F

    Experience with WEEE electronic waste take back scheme?

    Anyone selling on-line via Amazon FBA having experience with the electronic waste take back scheme? Linking my thread on the legal forum.
  8. F

    EEE electronic waste take back scheme

    Is anyone on here familiar with the EEE take back scheme? I'm trying to find answers to the following questions: How much is this going to be for a small seller (selling <5k of relevant goods per month) I'e read somewhere that signing up for the take back scheme - instead of offering take back...
  9. F

    Business current account - business plan required?

    I've just had a look at the major high street banks and the Cooperative bank. It seems some more f them (Coop) require a business plan from start- ups in order to open an account. Is this the same for all banks even if no overdraft or loan is needed? I just need an account to separate my...
  10. F

    Amazon FBA sales invoices

    Anyone .....? Also how would I include the invoice in the Amazon package if it is fulfilled by Amazon?
  11. F

    Change of address - when to tell hmrc

    When does one have to inform hmrc about a new personal address? Are there any penalties for missing the deadline, assuming this did not affect tax payment? On hmrc website it only says "it is important that you update us....." but I could not find a deadline.
  12. F

    Do you stash away tax money in an extra account?

    How do you make sure you have enough money left for the taxman? Someone recommended I transfer 25% of my profits each month into a separate savings account. Does this make sense? I'm a bit undecided since the money could be used to buy new inventory for my onlineshop. So maybe just save 25% of...
  13. F

    Amazon FBA sales invoices

    Do FBA sellers have to issue a VAT invoice for each sale?
  14. F

    What do I actually need to record when selling on Amazon

    Has anyone tried to to manually import individual transactions from Amazon via csv into their accounting package? I was thinking that in the beginning there won't be too many transactions. Not as real time as suggested by Pish_Pash but still easier than typing in everything by hand.
  15. F

    What do I actually need to record when selling on Amazon

    Pish_Pash, That sounds like what I am looking to accomplish. How do you integrate your accounting software with Amazon?
See more
Top Bottom
Community
Articles
Menu