Dear all
I am about to set up SAge line 50 having been using microsoft accoounting. We currently sell good for other people and our income from those sales (retail) is only the commission we charge them. We are not yet registered for VAT as we do not quite hit the limit yet. We want to avoid incorrectly inflating our turnover(these goods are not ours they are wholly owned by the vendors) Can we put a proportion of the sales as a short term liability and only the commission through as a sale. Can we set up a virtual client bank account and move money technically. Any help much appreciated.
Pete
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Short term Liability
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pete mangan
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brucedenney
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Re: Short term Liability
You are invoicing on behalf of your customer, putting their VAT reg no on the invoice to the end user?
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