- Original Poster
- #1
Hi,
I'm hoping someone on here can help me with this..... I'm stuck!
I have been selling on Amazon.uk for 6 months now and it's fabulous for me, I'm doing really well on there. At the end of every month i use the Amazon business reports to do a sales report of what i've sold in the month, how much money I've made etc. I then input this info into my Quickbooks accounts software and make sure it all matches up etc.
To tell you quickly how i do this I get a list of the products I've sold off Amazon and the amounts of each one sold. I then create an invoice on QB, mark it as the invoice for e.g. September 2012, add in the products I've sold, make sure the VAT codes and prices are right, add the quantities, add the postage and save it and receive the payment. So on my QB Amazon is just another customer who makes once a month orders and payments. I then create a bill for Amazon and I put in the amount of fees I paid for that month and I mark it as paid. It takes me about 45 mins a month and it's great- very simple.
So, now I've recently started selling on Amazon. de (Germany) and Amazon.fr (France) and again I'm selling really well- very happy.
My problem is I don't know how to do my accounts for Germany and France on QBs because I am being paid in Euros, not pounds, and my customers are officially abroad I guess, even though they come through the same Amazon shopfront.
Does anyone out there do the same as me and know how I should be doing my accounts for European sales?? Should I create an invoice for German orders and put the 'customer' (ie Amazon germany) as a Euro account and then add all of the products and prices in Euros and use QB to convert to £s? If I do this then I think I have to make all the VAT codes as EGZ (European Goods Zero Rated) because it's a foreign company- but then won't my UK tax man be unhappy with that??
Or should I convert the payment amounts myself, enter it in £s and use the normal UK Vat codes?
If anyone can give me any advice at all about this i'd really appreciate it! Thanks
I'm hoping someone on here can help me with this..... I'm stuck!
I have been selling on Amazon.uk for 6 months now and it's fabulous for me, I'm doing really well on there. At the end of every month i use the Amazon business reports to do a sales report of what i've sold in the month, how much money I've made etc. I then input this info into my Quickbooks accounts software and make sure it all matches up etc.
To tell you quickly how i do this I get a list of the products I've sold off Amazon and the amounts of each one sold. I then create an invoice on QB, mark it as the invoice for e.g. September 2012, add in the products I've sold, make sure the VAT codes and prices are right, add the quantities, add the postage and save it and receive the payment. So on my QB Amazon is just another customer who makes once a month orders and payments. I then create a bill for Amazon and I put in the amount of fees I paid for that month and I mark it as paid. It takes me about 45 mins a month and it's great- very simple.
So, now I've recently started selling on Amazon. de (Germany) and Amazon.fr (France) and again I'm selling really well- very happy.
My problem is I don't know how to do my accounts for Germany and France on QBs because I am being paid in Euros, not pounds, and my customers are officially abroad I guess, even though they come through the same Amazon shopfront.
Does anyone out there do the same as me and know how I should be doing my accounts for European sales?? Should I create an invoice for German orders and put the 'customer' (ie Amazon germany) as a Euro account and then add all of the products and prices in Euros and use QB to convert to £s? If I do this then I think I have to make all the VAT codes as EGZ (European Goods Zero Rated) because it's a foreign company- but then won't my UK tax man be unhappy with that??
Or should I convert the payment amounts myself, enter it in £s and use the normal UK Vat codes?
If anyone can give me any advice at all about this i'd really appreciate it! Thanks
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