Handling deferred payments in accountancy software
I know we are all facing this transition to DD+7 now, but I am wondering how folk manage it when adding transactions to their accounts software.
I'm only up to around 50 orders per week and maybe 1 per week on average B2B and only maybe 2 deferred ones a month up to now.
My method of accounting for sales is to enter my daily transactions grouped as one, so say 4 x Orders @ £150 in the "Money In" and 4 x Fees @ £24 in the "Money out" and then tag them inclusive of VAT.
Problem when I started getting the B2B with enforced credit terms by Amazon was that I would put the deferred order in on the day I shipped, when it showed on my account balance, but then 30 days later or whenever the payment was released, it would show up again in Amazon but initially I didn't spot it so had to track back and find what had gone wrong. I found a way of dealing with that.
This new setup where everything is deferred, but a mixture of time delays, is just going to be [Moderator Edit: inappropriate content removed]
Any suggestions for a better way to handle?
Handling deferred payments in accountancy software
I know we are all facing this transition to DD+7 now, but I am wondering how folk manage it when adding transactions to their accounts software.
I'm only up to around 50 orders per week and maybe 1 per week on average B2B and only maybe 2 deferred ones a month up to now.
My method of accounting for sales is to enter my daily transactions grouped as one, so say 4 x Orders @ £150 in the "Money In" and 4 x Fees @ £24 in the "Money out" and then tag them inclusive of VAT.
Problem when I started getting the B2B with enforced credit terms by Amazon was that I would put the deferred order in on the day I shipped, when it showed on my account balance, but then 30 days later or whenever the payment was released, it would show up again in Amazon but initially I didn't spot it so had to track back and find what had gone wrong. I found a way of dealing with that.
This new setup where everything is deferred, but a mixture of time delays, is just going to be [Moderator Edit: inappropriate content removed]
Any suggestions for a better way to handle?
0 replies
JiAlex_Amazon
@Seller_bIVNWAWuPbk3l
Thank you for bringing this up. The recent change in how deferred transactions are reported can certainly be challenging for sellers to navigate. While I can't comment or provide you direct recommendations on how to handle your accounting, I appreciate you inviting others to share their experiences and perspectives - that kind of open dialogue can be very helpful in working through these types of changes.
Regards,
JiAlex
Seller_64ANFRIFr4ruq
I have the same problem and it's driving me crazy. I'm just wondering if you managed to find a solution?
