Quick VAT Sanity Check
Hello, I am VAT Registered UK Seller, I am trying to get an answer from amazon support but it may be easier to ask here I thought. I sell multiple products some 0% Z and some standard rate 20% S, I am struggling to find a way to see at the end of each month exactly how much Z rate sales I have had, and How much S rate sales I have had.
I use the monthly summary usually and I have been using the tax amoutn at the bottom right, I assume this is the VAT I need to pass on to HMRC, for example if this value is £500, that means I have collected £500 worth of VAT and so I have had £2500 of VAT S sales? (EX VAT) so in my quickbooks I can put in I sold £2500, and it will add the £500 of VAT on, is this correct I am concerned I am reading these things wrong sometimes!
Quick VAT Sanity Check
Hello, I am VAT Registered UK Seller, I am trying to get an answer from amazon support but it may be easier to ask here I thought. I sell multiple products some 0% Z and some standard rate 20% S, I am struggling to find a way to see at the end of each month exactly how much Z rate sales I have had, and How much S rate sales I have had.
I use the monthly summary usually and I have been using the tax amoutn at the bottom right, I assume this is the VAT I need to pass on to HMRC, for example if this value is £500, that means I have collected £500 worth of VAT and so I have had £2500 of VAT S sales? (EX VAT) so in my quickbooks I can put in I sold £2500, and it will add the £500 of VAT on, is this correct I am concerned I am reading these things wrong sometimes!