ONLINE STORE ACCOUNTING
In the past few years, e-commerce has developed extremely rapidly, and the growth of sales through online stores is expected to become even greater in the future, given the advantages of online commerce, namely:
- Provides quick and easy access for customers to the desired product;
- Saves time for the buyer;
- Variety of payment options;
- The scope of sales expands – the development of sales on the Internet allows the discovery of new customers and partners in any part of the world;
- The lower operational costs needed to maintain the online store, etc.
The above, as well as many other advantages of online trading, are the reason why more and more entrepreneurs show interest and orient themselves towards this way of doing business.
For many entrepreneurs, however, there is uncertainty regarding the documentation of sales through an online store, as well as the tax laws that apply to this type of business activity. Traders are not aware of:
- Can they trade online as individuals?
- What are the regulations that should be followed after the online store is up and running?
- Should they be registered under VAT?
- If the company advertises on Facebook and Google, but is not registered for VAT, what are the consequences?
- Do they need to have a cash register?
- What type of payments does not require the issuance of a receipt?
- When the payment is made through Easypay AD, Epay.bg, Paypal, should a receipt be issued?
- Is a receipt issued if the customer pays by COD? If the customer’s payment is made by CASH ON POSTAL MONEY TRANSFER, should a receipt be issued?
- What is the difference between cash on delivery and cash on delivery with postal money order?
- What are the specific requirements of the NRA regarding the registration of the online store and the deadlines for this?
- What documents should be issued and accompany the sold goods until they reach the end customer?
- What are the particularities of organization and documentation of deliveries if sales are made in the European Union or a third country? Which tax laws should be considered when making these supplies?
To all these questions that you ask yourself and which are by no means exhaustive when we talk about online trading, we are ready to give precise answers and valuable recommendations to save you from wandering around in search of information. We will be happy to explain every moment of the regulatory framework that concerns sales through an online store.
By entrusting your accounting reporting to an external accountant, your company receives the following advantages:
- Significantly lower costs of subscription service compared to the costs of salaries and insurance of accounting staff.
- You save funds for building and maintaining an accounting office – rent, consumables, energy, etc.
- You save funds for the purchase of inventory, computers and other necessary equipment.
- You save the need to purchase licenses for accounting, Human resources and other necessary software and their continuous updates.
- In accounting practice, unconventional and complex cases often arise, which are usually beyond the capabilities of the operational, ordinary accountant. Solving such cases with a specialized external accountant is a daily routine.
- You save time and money for training and familiarization with changes and innovations in accounting and tax legislation, because the external accountant is always “on time”.
- You do not have to be responsible for deadlines and correctly processed documents and data, because the responsibility lies with the external accountant.
- Last but not least, you get a complete complex service, including various areas such as accounting, insurance, labor
Ana Petrova – managing owner
Graduated Master in Accounting and Control. With 20 years of professional experience as Chief Accountant and Financial Director in a German-Bulgarian company, a market leader in his field of activity.
Expert in the field of tax and accounting consulting. Author of articles and materials discussing important topics of tax and accounting legislation.
Responsible for business development and business processes in the accounting office. Leads and manages all projects, as well as accounting and tax consulting for clients.
He works in close contact with his clients, always managing to offer them an appropriate way and rational solutions for organizing and optimizing the company’s activities, so that they can improve their financial and accounting reporting as much as possible.
He readily accepts any challenge to lead and manage the accounting of individuals and legal entities from various spheres of modern business.
Quality accounting services at unbeatable prices!