I’m just trying to set up my Quickfile accounts and I’m doubting myself
I run a predominantly Ecommerce business run on three marketplaces, Amazon, Ebay & OnBuy. Ebay & OnBuy both pay via Paypal
I have so far been handling the accounting side on spreadsheets but now fall under MTD.
I have lots of small sales per day so I have been entering these as Cash Register Takings (3 entries per day, one for each marketplace)
I have set up merchant accounts for Amazon and Paypal.
I treat all marketplace fees as a monthly purchase – all provide invoices so this seems to be acceptable.
Assuming the above is a correct way of handling this, I have two queries:
Amazon pay every two weeks, after deducting their costs – how do I handle this? I assume this will also apply to Paypal, which I also use for some purchases so the totals are never going to match sales.
How do I show refunds i.e when a customer says something hasn’t arrived or has returned something? I currently deduct these from sales before entering on the return but I can’t see how to show this on Quickfile. As I do not enter each transaction I cannot put it against a customer, so I’m somewhat lost.
Thanks in advance