we are trialing solar and sell on amazon to probably thousands of customers. Having looked at previous questions it would seem we would have to enter each amazon sale with details of buyer etc on an invoice. Is this correct? Or could we simply put amazon totals straight to business bank account and print out records of sales to keep for reference. ? Am I being naive?
Hi John,
You can group all your sales transactions into a single Money Received transaction at the end of each month. The Type should be 'General Payment' and the From Account should be 'Sales Income'. You should record this payment being made into a new asset account called 'Amazon Account' which represents the amount of money owed to you by Amazon. This is similar to the way that a PayPal account works:
http://www.solaraccounts.co.uk/help/how-to-record-paypal-sales-fees.php
When Amazon pay into your bank account record a General Transaction from the Amazon Account to the Cheque Account.
Also note that if you are registered for VAT then you need to issue a VAT invoice to your customers when they request one. When you create the invoice you would also need to reduce the end-of-month Money Received transaction by the amount of the invoice.
Regards,
