Accounting Software for Importing All Amazon EU Sales data into quickbooks online, thats supports multiple VAT numbers
Hi,
Hopefully someone will be able to help me here. Ive searched through so many forums and nobody seems to deal with accounting software when registered for multiple vat numbers and selling on all amazon market places across Europe.
So let me give you the basics.
Im based in Ireland.
I am registered for Irish, UK & German VAT.
I sell on Amazon UK, Italy, Germany, France & Spain with the inventory being stored in Amazon UK & German fulfilment centres.
I recently signed up for Quickbooks online UK, which is now set up with Irish, UK and German VAT settings.
I need to be able to import all my amazon sales from all marketplaces in Europe into Quickbooks online and split them into 3 vat categories so I can put them against my UK, Irish & German VAT returns.
The way this needs to work is that every sale made to Irish customers on Amazon will need to be put against my Irish VAT number.
Every sale made using inventory in the UK Fulfilment centre will need to go against my UK VAT number (minus sales made to Ireland and Germany)
Every sale made using inventory in the German Fulfilment centre will need to go against my German VAT number (minus sales made to Ireland and UK)
This needs to be done this way because of distance sales rules, and is down to which country the inventory is located in.
Does anyone know the best way to achieve this, either using a quickbooks app or actually any software or app will do, if need be I will move away from quickbooks altogether.
Ive already tried A2X, cant figure out the settings, seems to be very complicated, and theres no great documentation available to achieve what I want to achieve.
The latest I have tried is Entriwise which advertise that they support all EU VAT, thats not true at all. They told me they only allow setup for 1 VAT number, which won’t work for me.
Im pulling my hair out trying to figure out a solution to this.
If anyone can help me Id really appreciate it!
Cheers!
13 replies
Seller_z6B2L9xab6HlP
I’m facing the same issue. There doesn’t appear to be any accounting software for small businesses that handles multiple VAT numbers properly. With quickbooks I think they advise you to tag sales against a project - or something like that - then produce a report and manually do a lot of work.
My accountant advised me to keep a separate set of books for each country, then produce the VAT return and EC sales list from this. It would mean entering stock movements manually (or finding a way to mangle Amazon’s report into something that can be imported to the software to comply with the UK’s MTD requirement). Transactions are fairly easy to convert into monthly summaries using a spreadsheet or database.
Doing it that way means you might be paying for multiple accounts, so free/cheap software might be best. Multiple Quickfile (not Quickbooks) accounts is currently high on my list as a solution, but only allows GBP as a base currency. My proposed workaround for that is to run the Euro books as GBP (i.e. 1EUR = 1GBP) which means the Euro reports will have £ as a symbol and not € - bit messy but it might work!
Seller_BnqfOH5ahn4zV
True - recommend sitting down with an accountant once, mapping will be set in perpetually
Seller_iYCrwoyqEYtxD
I have a “sort of” work around, that works “ish” for me… (or used to until MTD kicks in next month)
I use Tradebox to import all my sales into Sage. - I am vat reg in UK, and all the Pan EU countries.
I have tradebox set up, so that anything sold TO those countries is given a certain Tax code. (ie I have Germany as T15, France as T10)
In my Sage, it knows to count those tax codes at 0% against my UK vat return. - (but is still included in the total sales as we were told by HMRC),. I can then pull a report off by Tax code for my overseas VAT. (I then just put the totals I have to pay against a VAT line for that country that I have set up in the accounts
This worked fine whilst everything was stored only in UK (we still had multiple VAT reg due to thresholds), but now we post FROM Poland etc in FBA it gets a little complicated as sage only handles where the sale is TO, - it does no keep on top of where the stock is.
So.… now when the VAT returns are done from the Amazon report, to show stock sold FROM those countries (ie Poland) on top of the normal delivered to to a country I do not have a VAT reg for (ie Austria) , I have to manually deduct / change these sales from the UK report and change the tax code for that report, so I am not paying VAT twice… I had just got my head round a nice little spreadsheet that I could take from the Amazon report and put the totals each month into sage… and now MTD have bol88acked that up! (as I cannot suss how to automate that spreadsheet)
Seller_Up7wUq3ZyhkQn
Hi Techtwenty
I have a similar scenario to yourself. My primary Amazon account is UK and I currently sell in the four other EU marketplaces; Germany, France, Spain and Italy. I’m in the process of registering for VAT in those EU countries plus Poland and the Czech Republic. I have signed up to A2X and have used VAT codes for the Amazon import that I obtained from my brother (also an Amazon trader although only registered for UK VAT).
I’ve only uploaded one Amazon settlement as a trial run and not yet reconciled it but it looks OK thus far, slowly slowly catcha monkey!
My issue is how to deal with the EU VAT side of things. I’m toying with showing EU purchases as “No Vat” in QB to keep it out of the HMRC arena, isolate each country when needed for EU country VAT returns and pull out the necessary figures to work out the respective VAT. But this is just guesswork at the moment.
So my question is have you made any progress and if so what?
Your assistance is appreciated.
Tony
