taxomate allows you to map transaction types based on the VAT jurisdictions you are registered and included when signing up for Amazon's free Amazon VAT Calculation Service (Amazon VCS). You can still use this feature without enabling Amazon VCS, but the amount of data imported will not be as extensive.
Once enabled you will be able to map your accounts and accounting VAT codes when Amazon calculated VAT/No VAT on the order, who is responsible for the VAT (Seller or Amazon), whether the order was exported outside the EU/UK, and whether it was a B2B transaction. Click the button below to view out tutorial on getting started.
Please consult an accountant or one of our partners if you are unsure of any of the steps.
You can also check our example VAT Tax Codes for the Amazon UK Sellers and our overview of the VAT transaction types.
If Amazon VAT Calculation service is enabled and the VAT is lodged externally from your accounting system the solution is simple. taxomate will include the VAT in the Tax category mapping (default account is Amazon Sales Tax Collected) liability account with a No Tax or Tax Exempt rate applied. When you run a balance sheet report the amount sitting in this liability account is the amount that should be remitted to your tax authority for the time period.
Selecting the proper VAT Code often depends on the jurisdiction of the sale and business. taxomate can only provide general guidance on which VAT accounting code to select. Please contact an accountant or one of our partners if you are at all confused or need guidance.