Submitting a VAT return
Hello,
I'm claiming my first VAT return as a VAT registered business, I want to check my method with some of you more experienced users
- What reports do you use to collect the data? I currently use the ' Amazon VAT Transactions Report' which seems most appropriate
- In that report download, it gives information on refunds too - what do I do about these when submitting a VAT refund? Could i paste all of the sales and refunds and rely on the numbers coming together to cancel out my VAT claim on the refunds?
Many thanks
Submitting a VAT return
Hello,
I'm claiming my first VAT return as a VAT registered business, I want to check my method with some of you more experienced users
- What reports do you use to collect the data? I currently use the ' Amazon VAT Transactions Report' which seems most appropriate
- In that report download, it gives information on refunds too - what do I do about these when submitting a VAT refund? Could i paste all of the sales and refunds and rely on the numbers coming together to cancel out my VAT claim on the refunds?
Many thanks
2 replies
Seller_mS10UjVYuuGor
You need the advice of an accountant not forum members. While forum members may tell you what they do it is possible they are making a mistake without realising.
For what its worth, I'm experienced in business but find Amazon reports confusing (that's being polite!). I use Xero accounting software and have found that the A2X plugin sorts it all out to tally with disbursements and correctly logs VAT etc in Xero. What I spend on A2X, I more than save in mine or my accountants time. Even so I still use the accountant to prepare and submit quarterly returns, VAT is too important to get wrong. Hope that helps.
