What do you give your accountant?
Hello all.
So i’m trying to get my VAT sorted for last quarter. I’ve started giving my accountant something different and he’s coming up with a sales number that is way off what I was expecting.
FBA only
I give him - Monthly transaction reports & I save a PDF version of the disbursement reports. But these 2 documents don’t seem to add up!
Should I be providing something else?
As an example I think I sold about £390,000 in the quarter, but he has added up the disbursement pdfs and they come to about £460,000 - All including the VAT.
I also look at the business reports graph and that adds up to about the 390k I added up on the monthly transaction reports.
Any advise would be fab!
Thanks
What do you give your accountant?
Hello all.
So i’m trying to get my VAT sorted for last quarter. I’ve started giving my accountant something different and he’s coming up with a sales number that is way off what I was expecting.
FBA only
I give him - Monthly transaction reports & I save a PDF version of the disbursement reports. But these 2 documents don’t seem to add up!
Should I be providing something else?
As an example I think I sold about £390,000 in the quarter, but he has added up the disbursement pdfs and they come to about £460,000 - All including the VAT.
I also look at the business reports graph and that adds up to about the 390k I added up on the monthly transaction reports.
Any advise would be fab!
Thanks
62 replies
Seller_7VbclcPFFRTnc
Don’t use the business reports , they include cancelled sales etc
Disbursements may not add up either as they maybe from sales outside the period
If you go to reports - payments - date range reports and change it to summary, enter the dates and download the pdf, you should see your net income for the period on the left hand side and vat on those sales in the tax box on the bottom right
Note though, on those figures you’d be using accruals accounting and would need to be looking at figures transactions on invoice too
Seller_ae51e0CJoHqCX
Just to back up The_Little_Shop really, I submit my figures using the summary in date range reports for the quarter end but I only really use this for my turnover figures.
For the reclaims part I go into the tax document library and pull off all the VAT invoices for the period as well which are on the summary sheet but you do get rounding errors with these things.
Seller_3h73Wv2FjIws0
Yeah I’ve had a look and it looks like I’m gonna speak to the accountant and hopefully he agrees it’s a good idea. But due to my transaction levels it will be 149 a month, but gotta be done I guess.
Seller_lhG3Y690i4Qj9
If you use Xero https://weava.co.uk which we use to import Amazon sales the packages start from £15 a month.
Seller_Yjq4AEoa0h74s
Yup, would have to add a vote for LMB.
I’m on the 10K plan and it costs me £37 a month, although it’s going up about £10 from my next renewal.
Worth every penny.
Seller_Nprc5XWvdLYk9
did your 390,000 include all the vat, as it is separated on the summary reports and is in the bottom right hand corner.
there was a point a year or two back when amazon “forgot” to put the sales tax on the summary reporting.
Seller_VJFloi7Cs0iaR
Money.
I give my accountant Money.
I’ve tried cake, but he wasn’t happy, it was nice cake too.
