Hi there, this question is a bit subjective, but any thoughts would be appreciated. I have a retail client who has a large number of sales via their website and the receipts for those products goes straight into the bank account for example by sage pay and worldpay. Each month I print off their sales order/invoice that will match each customer payment which takes a long time, is this kind of detail required by HMRC as proof of the sale or would it be sufficient to see the amounts going into the bank. Thanks Julie
-- Edited by Julie Hall on Saturday 18th of June 2011 08:17:51 PM
Though printing out of all the sales invoices does seem excessive (esp if there is a lot each month). Could they be saved as a soft version eg pdf document so they can be accessed if needed? Could a summary report each month be prepared showing the relevant info ie customer, invoice date, summary of what sold, net, VAT, gross
Both SagePay and World Pay have report facilities, which should be able to list all transactions for a period, into a printable (or pdf) report. With summary totals
I had a similar dilema with a client using paypal. He used to print off transaction history, and I would enter each individual sales, refund, payment, fee payment........... took forever.
Kept asking if there were other reports, and he swore blind there wasn't. Anyway found out there was a summary report listing all the monthly transactions, with a total at the bottom. All I do now is add a batch total to Sales etc. and file the summary statement, as the primary data source. Takes less than 5 mins now (still charge the same though , makes up for all the extra time spent before)
Best thing to do I find is sit with client while they rummage around the report functions on their account, until you find one that gives you more details.
Your best option would actually be use some software that imports these type of items directly - even if it is CSV upload. There is no need to keep paper copies of sales invoices (or purchase invoices even) - see my blog on the topic of electronic invoicing
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I've arranged for clients who have paypal to add me as a user (with restricted access) to their paypal accounts! They give me the login and password details so I can get any report I want when I want.
Its much easier, and I now more about how the account works and the reports available than some of my clients!
Hi there, yes I have full access and can print off summary sales reports etc, monthly trading reports etc, hopefully I can do the same for sage pay etc..and this evidence I presume should be enough for HMRC as proof of sales etc.
, makes up for all the extra time spent before)
