- Original Poster
- #1
Hi All
I have searched considerably on this subject, found varying (and conflicting!) reports and also found my accountant to be be a little unhelpful; therefore I figured it would be wise to ask here.
I am just into the second year of an online retail business which sells via eBay and an e-com website. I have had to apply for VAT now and this is the source of my question.
At the moment I use Xero for my accounting. Generally I don't raise invoices or receipts for sales unless asked, in which case I raise a paid invoice/receipt manually. Most payments are either via PayPal or Stripe (about 95% vs 5%) and therefore I have paypal set up as a bank account in Xero.
Now I am about to become VAT registered my accountant has suggested I will need to raise an invoice for each sale. This is not the hardest task, eBay I think can do this but it won't integrate with Xero. Looking at software solutions it seems that there are significant options. Ideally I would like in the near future to use a one stop solution like Veeqo or CloudcommercePro, but for the moment the size of the business doesn't quite warrant the expenditure.
I would like to know then, what sort of paperwork should I be recording now I am about to be VAT registered?
And also, is there any software solutions for just importing from eBay and ecom websites to pull information into Xero and manage the invoicing?
Many thanks in advance
I have searched considerably on this subject, found varying (and conflicting!) reports and also found my accountant to be be a little unhelpful; therefore I figured it would be wise to ask here.
I am just into the second year of an online retail business which sells via eBay and an e-com website. I have had to apply for VAT now and this is the source of my question.
At the moment I use Xero for my accounting. Generally I don't raise invoices or receipts for sales unless asked, in which case I raise a paid invoice/receipt manually. Most payments are either via PayPal or Stripe (about 95% vs 5%) and therefore I have paypal set up as a bank account in Xero.
Now I am about to become VAT registered my accountant has suggested I will need to raise an invoice for each sale. This is not the hardest task, eBay I think can do this but it won't integrate with Xero. Looking at software solutions it seems that there are significant options. Ideally I would like in the near future to use a one stop solution like Veeqo or CloudcommercePro, but for the moment the size of the business doesn't quite warrant the expenditure.
I would like to know then, what sort of paperwork should I be recording now I am about to be VAT registered?
And also, is there any software solutions for just importing from eBay and ecom websites to pull information into Xero and manage the invoicing?
Many thanks in advance
