Dear Friends, 

I want to give my opinion in that matter please give your opinion :

At the time of sale I have entered sale entered as usual 

Amazon A/c Dr. 105

To Local sale A/c          100

To Dvat A/c                    5

And at the time of received commission invoice

Commisson A/c . Dr.     20

to Commission payable to amazon  A/c                  20 

And at the time of received payment

Bank A/c..Dr         80

Commission Payable to Amazon A/c ...Dr  20

To Amazon A/c                                                100

Dear Ms. Jaya,

what about TDS on  Commision if limit crosses 30K.  also we have not  control over Amazon/snapdeal to deduct TDS.

Respected All,  

For e.g. I am registered dealer with DVAT since 25 years deals in ItemNo1 as trader.  

Now I would like to sell Item no2. Online through Amazon or else, does I required fresh TIN/VAT registration or I can do this with my old tin.  

prompt reply will be highly appreciated.

Thanks 

Regards

Deepak Sharma

 

No fresh registration is required but we need to change/ alter the registration details. 

Thanks !

Originally posted by : jaya krishna
	No fresh registration is required but we need to change/ alter the registration details.

Originally posted by : FRIENDS 4 EVER
	Service Charge is Applied on all the Fee, on Commision, shipping, Online fee, Ad fee. on all.   I have Attached a Sample of a Commision Invoice. Please Check and Let me know. In Details

Hi,

It's very simple. At the end of the month you get invoice from Amazon, Flipkart. Now to enter those into accouning do this> 

Create an account called Flipkart Charges & Expenses under 'direct expense'

Now once you receive the monthly invoice (say for example totalling Rs. 20,000), you pass the following journel entry

Flipkart Charges & Expenses Dr. 20,000
Flipkart Sales (sundry debtors) Cr. 20,000

Explaination : That invoice you have received, contains the charges that marketplace has already deducted from your remittances. So that's why you credit it to the sales account. Don't need to create different accounts for Shipping charges, Fixed fee etc as it doesn't serve any purpose.

-----

Having said that, accounting will be a little different if you are running advertisements for which you recharged in the advanced. It will be as follows:

• When you are recharging your advertising account at the marketplace:
  Create an account called Flipkart Advertisement advances under Loans & advances (assets) 
  Payment entry will be
  
  Flipkart advertisement advances Dr. Rs. 5000
  Bank Account Cr. Rs. 5000
   
• When you recive your monthly invoice from the marketplace which mentions the advertising consumtion (e g Rs. 2000). This is how you will pass the journel entry.
  
  Flipkart Charges & Expenses Dr. 20,000
  Flipkart advertisement advances Cr. 2,000
  Flipkart Sales (Sundry debtors) Cr. 18,000

Correct me if I'm wrong.

Hello  Friends, 

I want to give my opinion in that case

  At the time of sale I have entered sale entered as usual

  Amazon A/c       Dr.               900

To  ISS Sale @ 5%                               650

To Cst @ 5%                                         32.50 

To commission a/c(22%)                      143

To shipping & charges                          74

To R/off                                                 0.50

And at the time of received payment

Bank A/c..Dr          650

To Amazon A/c                   650  

So. everyone  confrim  me i m right ya not i m enetrd this sale enrty mention in this sheet .pl's revert  this case ASAP.

Regards

sona mehta

Originally posted by : sonamehta
	Hello  Friends,  I want to give my opinion in that case   At the time of sale I have entered sale entered as usual   Amazon A/c       Dr.               900 To  ISS Sale @ 5%                               650 To Cst @ 5%                                         32.50  To commission a/c(22%)                      143 To shipping & charges                          74 To R/off                                                 0.50 And at the time of received payment Bank A/c..Dr          650 To Amazon A/c                   650   So. everyone  confrim  me i m right ya not i m enetrd this sale enrty mention in this sheet .pl's revert  this case ASAP. Regards sona mehta

This is correct. But for commissions and courier charges, instead of doing them per transaction basis, do it montly basis only. Per transaction basis makes the whole thing very very messy once you start accounting for return, refunds etc. I do per transaction basis because I have written my own software which takes care of everything.

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When as a seller on e-commerce have to issue a tax invoice to customer, what entry I need to pass. I will be receiving money from ecommerce after deducting their commission processing fee etc from the total sale amount. 

how can we maintain taly if sales is monre than 400 on daily basis ,plz give reply as sonn as possible 

how can i reconcile market place remittance report may daily sales volume is more than 400

Sir i am an accountant i went to chartered accountant to file gstr 1 then it is said that zomato sales business has to be shown in B2B but as far as i know zomato sales business show in only B2C Kindly Solve My Query

 Md Fateh Alam

So  I have question right with this solution below 

Comission  A/C                

DR     Shipping     A/C                

DR Online Fee   A/C              

DR Advirtisment   A/C             

DR SERVICE TAX INPUT A/C DR                                

                                           To AMAZON A/C

So how do you offset the AMAZON A/C? This account supposed to be some kind of payable right?