Daily sales reports HMRC MTD
Hi
My new accountant yesterday told me that I had to show the daily sales total from Amazon/ Ebay in QuickBooks (import as a CSV)
I have never done this before in the 14+ years of trading my bookkeeper literally put in the figures from the monthly summary/invoice at the end of the month (which obviously balances with disbursements etc)
Firstly - is he just being picky, because technically if I have to do it with Amazon and Ebay, I should have to do it with my webshop as well
and as I can’t connect Quickbooks to my Amazon / Ebay account (or any big e-commerce shops like shopify/ woocommerce etc) it seems strange that such an important thing can’t be done in quickbooks
secondly
Where do I get the daily sales total in amazon, it doesn’t seem to exist.
I can download all the transactions and the summary report which again makes me think he is wrong
Thanks in advance
27 replies
Seller_62OdPzJM60I9v
Firstly I think he may be right, I have a feeling that you are supposed to daily sales totals if under a certain amount of profit/turnover. I use daily figures by going to reports/payments/Date Range Reports and put in the date you want. It gives you sales, VAT, Postage, Fees etc so should cover everything you need, don’t know if this covers fba though as I don’t use it and you will have to add up the columns for the total 
Seller_esvgLzKXw2YAl
I would imagine that you want your payments (Transaction) report, rather than daily sales as such.
But you might want to look at something like Link My Books or A2X to automate it for you.
And if you just want daily sales as such, then you can use your sales reports.
But these are no good for accounts.
And yes, he is being picky. As long as you import all of the correct information at the end of the month, it will be correct. By getting the information daily though, you have a much better grasp of sales/profits etc.
Seller_Gq0aGvAqLaCsZ
I use sagepay for my shop credit card payments
every month I download the transactions
ditto Paypal -
according to the accountant I would then have to do amazon and ebay and my shop.
there isn’t the function within QuickBooks to do this
Is there anyone here who adds their daily sales into their software (quick books/ sage etc)
Seller_Gq0aGvAqLaCsZ
I know
I have always used the monthly transaction and monthly summary
its telling that you can do a month range or custom,
if this was standard thing surely there would be a day button as well
Seller_Gq0aGvAqLaCsZ
Right
I have been reading the VAT info on this link
3.5 Retail schemes
The following rule has the force of law:
In addition to the records listed in paragraph 3.3, if you account for VAT using a retail scheme, you must keep a digital record of your daily gross takings (DGT). You’re not required to keep a separate record of the supplies that make up your DGT within functional compatible software.
and the important part
3.3.3.3 Supplies received by third party agents
A third party agent can act for, or represent, a business in arranging supplies of goods or services. The supplies that you arrange are made by, or to, the business represented.
A third party agent may make purchases on behalf of a business and it may not be possible or practical for them to digitally record every single supply received. Therefore, HMRC accepts businesses digitally recording these as a single invoice.
The following rule has the force of law:
Where a third party agent makes purchases on your behalf, those purchases do not fall within the digital record keeping requirements until you receive the information from the agent. Where the information is received as a summary document, you can treat this document as one invoice received by you for the purpose of creating your digital record.
This only relaxes the requirements on maintaining records using functional compatible software. It does not change any other record keeping requirements set out in VAT legislation.
Therefore can we presume that Amazon and Ebay are both classed as 'Agents’
and the invoice and monthly transaction list is sufficient
Seller_Gq0aGvAqLaCsZ
No we don’t use the vat retail scheme
Good point - totally missed
so again is there an easy way to download the daily sales figures from amazon on a monthly basis
because I expect most sellers here have to do exactly what I am being asked to do and no one seems to be able to give an easy answer apart from spend another £30 a month to import from various channels
Seller_BgqXV4NKDPBIc
You need to get an accountant that understands ecommerce accounting. Ideally one with previous experience doing the accounts for Amazon sellers/businesses.
Seller_2IqU6eYHmCUaV
My Accountant , accounts for my Amazon turnover Monthly .
Basically as long as your expenditure / income is balanced on your Accounts for each VAT quarter that is all that is required.
I have used SAGE since opening in 1993 and am using their latest version which allows me to submit my MTD to HRMC each quarter.
Normally SAGE is quoting Around about £22.00 + VAT per month for their MTD package , but as a Costco member that price is reduced to under £9.00 plus VAT per Month 
Seller_3GyNElrbg48mk
What your accountant is needing is the transactiones involved with each Disbursement taken.
- Open new Workbook in Excel Name and save as Amazon “MONTH” “YEAR”
- Go to Amazon Reports > Payments >; All Statements > download the “Flat File V2”.
- Download each Settlement report for Each Disbursement taken in Month
- Open download report and copy &; paste each report to a new worksheet on your Workbook
- Date each worksheet tab with each individual report a start-end date
- When all reports for month are added. Convert each worksheet to a “Table” by selecting any single data field and press Ctrl “T”.
- On First Workbook go to Data > GetData > From Other Sources > Blank Query
- Power Query Editor Opens
- Type into Query Bar “= Excel.CurrentWorkbook ()” press Enter
- A Table Appears Under “Properties” Rename for the Month-Year-Value
- On Content column heading click on selection box, untick “Use original column name as prefix” then Press “OK”
- Consolidated Table Data appears.
- Select Close &; Load> Close & Load To
- Tick Radio Buttons, PivotTable Report, New Worksheet. Press OK
- Data Compiles may take some time.
- Query Table appears
- Tick items in following order
- Deposit-Date
- Total-Amount
- Amount
- Amount Description
Then hey presto! You have all the sales and expense data compiled
