Sales accounting in an online store

We continue our series of articles on accounting for online sales. Selling goods through an online store involves receiving payments in a non-cash form (Internet acquiring, payment through a self-service terminal, transfer from current account to current account) or by cash on delivery. In addition to receiving payments for goods, an important element of online sales is the delivery of goods: by your own couriers, through points of delivery, or with the help of third-party carriers. How to properly keep records of all these operations will be discussed in this article.

Payment by card on the store's website or online acquiring

Paying with a card directly on the store's website is probably the most convenient for the customer. To activate this service, an online store owner should contact an intermediary service, such as LiqPay, Wayforpay, EasyPay, Platon, Fondy, Portmone, etc. All these companies provide online acquiring services. After payment, the seller sees all receipts in the service's personal account, and the money is credited to the seller's account either on the day of payment or within three banking days minus the intermediary's commission. If there were several payments through the service intermediary during the day, the total amount will be credited to the seller's account.

If the seller is a VAT payer, then the first VAT event will be the issuance of an invoice or sales receipt. However, when selling through an online store, buyers often choose and pay for goods without receiving an invoice. In this case, the first event, and therefore the date of the tax invoice, will be the date of payment for the goods by the buyer on the website (not the date of receipt of money to the current account). For example, if the buyer paid for the purchase on the website on July 3, and the money was transferred to the current account on July 5, then the date of the tax invoice will be July 3.

The tax invoice must be drawn up for the full amount of the purchase (the commission to the intermediary is not deducted). If the buyer is not a VAT payer, then you can draw up a final tax invoice for the day.

Single tax payers can also accept payments via Internet acquiring. The date of receipt of income is the date of receipt of money to the current account. The income of a single tax payer includes the full amount of the purchase; the intermediary's commission does not reduce income.

Entrepreneurs on the general taxation system indicate the full amount of revenue in the Income and Expense Ledger, and include the amount of the commission in expenses. The date of receipt of income will be the date of receipt of money to the current account.

Prepayment in another way

If the buyer pays for the goods using a self-service terminal, Internet banking or through a bank cash desk, there are no difficulties in accounting, because in this case the money comes day after day and no commission is deducted. VAT payers draw up a tax invoice on the date of payment (if this is the first event), while single tax payers or entrepreneurs on the general taxation system record such payment as income.

Determine the date of sale:

1. Delivery of goods by courier service

When goods are delivered by a courier service, the date of sale in accounting will vary depending on when the risks and rewards of ownership of the goods are transferred to the buyer. If the offer agreement specifies that the seller loses the right to the goods when they are handed over to the courier, the date of sale will be the date of handover to the delivery service. If the offer agreement states that the seller controls the delivery, then the ownership of the goods passes to the buyer upon receipt of the goods, and therefore the date of sale will be considered the date of actual receipt of the goods by the buyer.

In such a situation, the tax invoice is drawn up on the date of transfer of the goods from the warehouse to the courier or delivery service.

2. Delivery of goods by own couriers or to the points of delivery of the online store

In this case, the date of sale will be the date of actual receipt of the goods by the buyer. Until the goods are received by the buyer, they are the property of the online store.

If the goods are transferred from the main warehouse to the point of delivery, the tax invoice is drawn up on the date when the buyer picks up the goods, regardless of how the goods were delivered.

Cash on delivery

In accounting, when goods are sent by cash on delivery, the debt for the goods is due to the carrier at the time of receipt of the parcel, since the buyer will actually pay the carrier for the goods. The payment for the goods is credited after receiving the money from the carrier.

The date of the tax invoice will be the date of transfer of the goods to the carrier, not the date of receipt of cash on delivery.

Single tax payers record the full amount of cash on delivery in their income; delivery costs and other fees are not deducted from income. The date of receipt of cash on delivery will be considered the date of receipt of cash on delivery.

Entrepreneurs on the general taxation system consider the date of receipt of money to be the date of actual receipt of cash on delivery. Money transfer and delivery fees are deducted from total income.

In the next article, we will tell you who needs a cash register when selling through an online store.