Invoices
What Documents Does My Company Need for Amazon FBA Accounting?
You'll need four types of documents:
Sales and VAT Report: This report, provided by the external provider you hired, helps understand global sales and VAT across EU countries. Amazon doesn't provide it. You should give us:
A report of all VAT sales submitted in countries where you're VAT registered.
A similar report from your provider.
Transactions Report: Also from your provider, it categorizes transactions by B2C/B2B, VAT, and country.
Amazon Purchase/Expense InvoiceFew readersHow To Uplaod Invoices For Payments For Deferred Payment Platforms With Credit Such As Google Ads
Platforms such as Google Ads and others are what we call "Deferred Payments Platforms". In this FAQ, we explain how to obtain and upload the right invoices for these platforms.
Understanding Invoicing for Deferred Payment Platforms
Some platforms operate on a deferred payment model, such as Google Adwords. In this system:
Customers make payments that are credited to their accounts.
The platform deducts from this credit as services are utilized. Fees, discounts, refunds, and taxes maFew readersCan I Deduct Business Rides On Apps Such As Uber, Bolt or Lyft?
Yes, trips for business reasons are deductible. However, you need to get a proper invoice from the ridesharing app, not just a trip summary or trip receipt.
receipt from Lyft
Some providers such as Bolt will give you an invoice right away, but others such as Uber or Lyft will only give you a summary with the cost of the trip. That is not a valid invoice.
To get proper invoices, you neeFew readersHow To Get Proper VAT Invoices From Google One
Google One is a cloud storage subscription service by Google. While it’s convenient, especially for Android users, obtaining VAT-compliant invoices from Google can be tricky. In this guide, we explain how to ensure your Google One invoices are issued correctly so you can upload them to Companio and deduct your subscription expenses for your business.
Invoices for Personal Use vs. Business Use
For your Google One subscription to be tax-deductible, the invoices must be issued to your bSome readers
Bank Reconciliation
Why Should I Increase the Share Capital Instead of Making a Loan to My Company?
Lending personal funds to the company may seem like a quick solution to obtain additional funds, but it can entail several disadvantages and significant financial risks. Here's why increasing the company's share capital is a much more beneficial and secure alternative:
Financial Responsibility and Risk:
When you lend money to the company, this loan becomes a financial obligation of the company to you as the lender. This means you become a creditor of the company and are exposed to aFew readersWhich Transactions Need Document Matching for Bank Reconciliation?
Several types of transactions require document matching for bank reconciliation. The following matching types may be encountered:
Sales invoice: This refers to an incoming transaction resulting from a sale. An invoice containing the customer's data is required to reconcile this type of transaction,
Purchase invoice: This refers to an outgoing transaction from a purchase. An invoice or receipt containing the seller's data should be provided to reconcile this type of transaction.Few readersI Charged a Non-Deductible Expense to the Business, What Can I Do?
It's crucial to maintain a clear distinction between your business and personal finances for accurate accounting and tax reporting. Non-deductible expenses, such as personal purchases like meals, drinks, clothes, or other non-business-related items, should not be charged to your corporate account. Adhering to this practice ensures financial transparency and compliance with tax regulations.
What should I do if I've charged a non-business related expense to my corporate account?
If you findFew readersWhy do I need to follow the loan amounts exactly as stated in the agreement?
When managing loans in your company’s accounting through our platform, it is essential to strictly follow the exact amounts specified in your loan agreement — both for the initial capital and for each repayment installment.
Why is this important?
Our system automatically matches payments to existing loan records. If the payment amounts do not match exactly, the system cannot match them correctly. This can result in:
Errors in your financial reporting
Delays in your Annual ReFew readersHow do I match sales received in payment gateways such as Stripe with invoices and payouts?
This FAQ aims to clarify the process of matching bank transactions with invoices in the following scenario:
You utilize a payment gateway, such as Stripe, to handle the sales revenue from your customers. This is where you receive your sales.
Your company maintains a corporate bank account, for instance, with Wise.
Periodically, the payment gateway initiates a payout to your corporate bank account. This payout encompasses all sales from a specific period, minus any associated fees and cFew readersMatching Internal Movements Of Funds And Refunds For Personal Expenses
When matching transactions that are internal movements between accounts belonging to your business, or a refund of a personal expense that you inadvertently paid with your business card, there are some aspects to consider:
Matching internal movements of funds between accounts belonging to your business
As explained here, this type of matching should be used to indicate transfersFew readersPrecision Matching: Understanding Matching Rejections With Account Guardian
What is Precision Matching?
Precision Matching is an advanced feature within our Accounting Guardian that ensures the accuracy of transaction matches before finalizing them in your account. This functionality checks that transaction details align with the accompanying documents based on specific rules, enhancing the reliability of your financial records.
Precision Matching
HoFew readers
