Doing year end accounts, problem with figures, help

da_rule

Are the figures you're reading from before or after PayPal have taken their cut? As obviously the figures on eBay won't include the PayPal fees.

AbbieCadabra

Suarez wrote: »

And you hadnt thought an accountant could reduce your tax liability on that 36k?

example here, would appear to be much better off being Limited on that turnover.

berbastrike wrote: »

possibly but theyd probably want £3k a year

from the site quoted above (who we use), they'd charge you £849 per year for a Ltd. with that t/o (obviously check what services are included & your records need to be of a certain level, more info on their main site).

System

I don't want to be a Ltd company, I believe you have to keep strict paperwork, have 1 business account, and other things, I can't be bothered with the hassle

quidsy

Ebay & PP Fees?

AbbieCadabra

berbastrike wrote: »

I don't want to be a Ltd company, I believe you have to keep strict paperwork, have 1 business account, and other things, I can't be bothered with the hassle

entirely your choice of course .

i do all our paperwork & there is very little hassle running a Ltd., providing that you are aware of your responsibilities as a Director.

there's 1 annual return that has to be filed at companies house within a certain timescale each year & takes all of 30 seconds, quarterly vat returns & our accountant prepares & files year end accounts. i'd be surprised if my records are any more 'strict' than yours to be honest, just accurate record keeping. we have to keep accounts for a period of 6 years, isn't that the same as what you do now? (i honestly don't know). natwest appear to offer a good business banking account, gets recommended on another site i use, free of charges for 2 years i think.

Percy1983

As an accountant I would chcuk both lists into excel do a few sorts based on key fields, put a few formulas in and the difference would be clear.

It really shouldn't be that much work.

Once you know why there is a difference the answer of which figures are correct should be clear.

chalkie99

deleted sorry

PlutoinCapricorn

Percy1983 wrote: »

As an accountant I would chcuk both lists into excel do a few sorts based on key fields, put a few formulas in and the difference would be clear.

It really shouldn't be that much work.

Once you know why there is a difference the answer of which figures are correct should be clear.

This is what I was getting at earlier! I have been wondering whether there are three sets of figures involved: eBay, PayPal and the OP's records.

I am guessing that this is the first trading year.

System

PlutoinCapricorn wrote: »

This is what I was getting at earlier! I have been wondering whether there are three sets of figures involved: eBay, PayPal and the OP's records.

I am guessing that this is the first trading year.

2nd trading year.

OPs records are ebays records.

Paypal don't give a breakdown of the total, just a total figure.


I think I may have found something, it seems where partial refunds were given on ebay, these are being shown as totally refunded on the ebay excel records

classy69

I assume you are vat registered on that level of turnover?