- Original Poster
- #1
Hello 
I have been trading on Amazon since October last year. My sales are very low. I've kept a hold of all my receipts for everything I've bought for the business and got them organised.
All my sales are recorded on Amazon, this is a very basic question but I've gone and managed to confuse myself(doesn't take much granted)... I use a spreadsheet which has been created by my local business support office to record income and expenditure.
How do I record my Amazon sales. I sell my stock at £7.00 + £2.90 for the postage
Amazon has a fee of 95 pence per product. When I go to the Amazon transaction page, they add £7.00 + 2.90 (minus the fee) =£8.95
Do I record the sale as £8.95 as income ? Then deduct the fees and postage as expenditure ?
I'm in the process of winding up the Amazon business and want to get my bookkeeping in order before the HMRC deadline.
Your advice is appreciated
Thank You
I have been trading on Amazon since October last year. My sales are very low. I've kept a hold of all my receipts for everything I've bought for the business and got them organised.
All my sales are recorded on Amazon, this is a very basic question but I've gone and managed to confuse myself
(doesn't take much granted)... I use a spreadsheet which has been created by my local business support office to record income and expenditure.How do I record my Amazon sales. I sell my stock at £7.00 + £2.90 for the postage
Amazon has a fee of 95 pence per product. When I go to the Amazon transaction page, they add £7.00 + 2.90 (minus the fee) =£8.95
Do I record the sale as £8.95 as income ? Then deduct the fees and postage as expenditure ?
I'm in the process of winding up the Amazon business and want to get my bookkeeping in order before the HMRC deadline.
Your advice is appreciated
Thank You
