E-Commerce

The difficulty in e-commerce accounting is not the size of the amounts but the number of movements and the fact that money waits at several stops. The sale, the collection and the transfer to your bank often happen on three different dates; the accuracy of your file depends on matching these three.

Marketplaces and your own site

Settlement and commission reports from marketplaces are obtained period by period. Gross sales, returns, commission, service fees and other deductions in those reports are separated and recorded; the difference between the net amount the marketplace pays you and your gross sales is booked as expense where it belongs. For sales through your own site, your virtual POS statement is compared against your e-archive invoices.

Monitored during the period

• Returns and cancellations recorded in the right period and at the right VAT rate
• Document order for shipping, packaging and storage costs
• Separate tracking of sales abroad and micro-export transactions
• VAT declared as the responsible party for advertising and digital services purchased from abroad
• Products with different VAT rates within the same order
• Your payment institution and marketplace balances at period end

Stock and cost

At period end your stock count is compared against the records. The cost of goods sold and the remaining stock value are reviewed together before the advance tax and the annual return.