We have a building company. We have credit accounts set up with building merchants which we get invoiced for (and pay at the end of the next month). Are these materials we have bought be classed as an expense or cost of sales?
Hi there, in the chart of accounts, in the VAT RATE section, is that how much vat we pay ie 20% or how much tax has been added by the vendor ie on insurance 0% or materials 20%. Thank you !
How can you add an item from the bank account if you don't have the receipt or invoice to show the breakdown of item vatable or non vatable and the important item the vat number?
Hi. If I am starting a print on demand business. I understand that I categorise the money I get from customers is income. But the money I pay to my print on demand supplier,. Is that an expense? Also, what would we categorise things that can be written off? Like ads?
Thank you for giving us an ideas😀
Another great video, thank you!
Any time :D
We have a building company. We have credit accounts set up with building merchants which we get invoiced for (and pay at the end of the next month). Are these materials we have bought be classed as an expense or cost of sales?
Hi there, in the chart of accounts, in the VAT RATE section, is that how much vat we pay ie 20% or how much tax has been added by the vendor ie on insurance 0% or materials 20%. Thank you !
How can you add an item from the bank account if you don't have the receipt or invoice to show the breakdown of item vatable or non vatable and the important item the vat number?
Add via bank and then be prudent about the VAT element to use 👍
Hi. If I am starting a print on demand business. I understand that I categorise the money I get from customers is income. But the money I pay to my print on demand supplier,. Is that an expense? Also, what would we categorise things that can be written off? Like ads?
it certainly will be an expense, if you want to talk about it in more detail, feel free to email hello@boffix.com
How do I add my payments from KDP, I get them monthly?
Same principle as my gross up video, many thanks