Self-assessment FAQs: 8 answers to help you when filing your tax return
Discover answers to frequently asked questions on self-assessment tax returns and learn what you need to do, so you can file on time.
Sage Business Cloud
Sage’s e-commerce accounting software helps you manage your online business with simple stock management, easy invoicing, and real-time view of your finances. Whether you have expanded from bricks and mortar to click and collect, or found success trading on Shopify, Amazon, eBay or Etsy. Let Sage take on new EU VAT rules so that you can keep bossing your online business.
Changes to e-commerce legislation (effective 1 July 2021) have tax implications for online sales across borders. Save time by quickly applying the right tax rate to every invoice with our Revenue recognised software.
Get hassle free e-commerce accounting. Our A2X*** partner app posts Shopify, Amazon, Etsy, and eBay sales and fees directly into Sage Accounting in summaries that match the payments to your business' bank account. And get real-time cash flow forecasts based on money coming in and out of your account to get paid faster.
*** A2X is a paid addition to Sage Accounting, pricing starts from €16/mo which covers up to 200 orders per month, but other pricing options and order volumes are available.
Manage stock effectively so that you can stay profitable. See what needs to be ordered in seconds to stay on top of your inventory.
Connect your banks to Sage Accounting and import transactions automatically to get an accurate, real-time view of your accounts and to see money going in and out of your business.
Sage Accounting makes managing finances simple so that you can focus on your customers. Cut down admin time by automating manual data entry, reconcile bank transactions and collaborate with your bookkeeper on a timely, accurate Revenue return.
Whether you’re at home or on the go you can create and manage invoices, check when you got paid, and view cash flow forecasts from anywhere using the Sage Accounting app for Android or iOS.
*€1 per month for the first 3 months, then €10/€25 + VAT/mo (tier depending). Terms and conditions apply.
**Start your free trial and receive 1 month free, then €10 / €25 + VAT per month (tier depending).
(1)Starting at 5 employees for €1.00(offer price when coupled with Sage Accounting) per month + VAT with the option to add employee tiers for up to 100 employees. RRP from €10 + VAT per month (after offer).
(2)Snap and upload data from unlimited receipts, invoices and supplier statements with AutoEntry, 50 % off for your first 3 months. Subject to fair usage policy.
(3)Sage Payroll and Accounting Standard now €1.00 + VAT per month (offer price), then €25 + VAT per month for Accounting Standard. Terms and conditions apply.
Sage Accounting helps e-retailers and e-commerce businesses (including Amazon and eBay sellers) to simplify financial management. With cloud accounting software you can save valuable time on admin and view insights in real-time so that you can focus on boosting business. Use Sage Accounting to :
To manage your finances quickly and easily you need the best accounting software for eBay and Amazon sellers. Sage Accounting is an affordable choice that enables you to record income and expenses and sync transactions with your bank account. You can also snap and capture receipts with your phone or a computer. And Sage Accounting simplifies generating and emailing invoices to customers.
Put simply, e-commerce accounting is managing, understanding, and reporting on your business finances. As an online business there are key things that you need to think about when it comes to accounting :
Reporting: it’s important to keep track of stock, sales, and returns so that you know your costs, where you’re making money and how much you’re selling.
Bookkeeping: you need to keep track of transactions whether it’s a sale, a return, or if you’re buying items. Through bookkeeping, you can keep an audit trail of all these actions so that you have clear visibility of your finances. Remember that tax requirements can change depending on where you’re selling so make sure you do your research.
Tax filing and reports: make sure you are completing tax returns each year. This is where you declare your income and capital gains for the tax year. You’ll also need to prepare statutory (or annual) accounts at the end of each financial year.
There’s a lot to think about when looking at your finances, from supplier payments, banking fees, and stock levels to sales and returns. With accounting systems in place, you can make sense of money coming in and out of your business with simple reporting, an easier way to collaborate with your bookkeeper or accountant, and automation so that you’ve got time to focus on your business.
Sage Accounting for e-commerce businesses is Revenue compliant software that helps you stay on top of the latest legislation so that you can focus on what you do best. It’s easy to quickly and securely file VAT returns as Sage Accounting calculates the VAT for you. You can collaborate with your accountant or bookkeeper using real-time data. And with a clear view of a live running total of your tax liabilities, you can have complete confidence that your returns are accurate every time.
Yes, even with online marketplaces, it’s important to keep track of stock and financials. You can use our A2X partner app which integrates with Sage Accounting. It categorises transactions and sends them to Sage quickly and easily, giving you a simple summary that matches your Shopify, Amazon, eBay or Etsy payments. It’s a great way to get accurate, automated accounting that cuts out the admin burden.
There are plenty of ways you can save time with Sage Accounting. Here are some examples :
Automate manual tasks
By automating tasks, you can cut down the amount of time you spend on manual data entry to save money and focus on the areas of the business that need the most attention.
AutoEntry
Spend less time on admin and more time on your e-commerce work with a paperless way to manage receipts. Simply snap, scan or email a photo of your receipts, bank transactions, invoices or other documents for your Sage accounts using AutoEntry. Then categorise, publish and share them with your accountant through Sage Accounting. AutoEntry captures tax summaries and full line item details including description, quantity and unit price so it’s an easy way to log the information you need, when you need it.
Other ways to save time :
Once set up, your sales and fees, and the corresponding pay-outs or settlements will automatically flow into A2X.
A2X will create accurate tidy summary accounting journals for each accounting period that match the cash payouts that you can review and approve to post to Sage Accounting. Then you can match the A2X journals against the money deposited to your bank account.
Get added functionality with our partner apps which integrate directly with Sage Accounting, bringing you more tools that help you get the job done.
Remove the need for data entry
AutoEntry is an intelligent, cloud-based solution which eliminates bookkeeping data entry, so users never again have to type up invoices or receipts.
Hassle free ecommerce accounting
A2X posts Shopify, Amazon and eBay sales and fees directly into Sage Accounting in summaries that match the payments to your clients' bank account.
Make it easier to get paid
No more chasing late payments – give your customers simple and easy ways to pay you directly from the invoices you send with our useful “Pay Now” buttons.
Get paid faster
Satago helps business owners and accountants get invoices paid faster and protect against credit risk.
Discover answers to frequently asked questions on self-assessment tax returns and learn what you need to do, so you can file on time.
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The way VAT is handled for online sales from businesses worldwide to consumers in the EU changed on 1 July 2021. Learn more here.
Want to know how you can reduce your company's tax bill? Here's a guide to the self-assessment expenses you can claim against your profits.
You’ve discovered what Sage Accounting software can do for e-tailers and e-commerce traders. Check out our plans, pricing and latest deals to take the next step.
