Please could I get recommendations for the best bookkeeping software for reporting under VAT MOSS where client has high volume of transactions (mainly from paypal)....I looked at Xero but it looked pretty manual and couldn't see any add-ons.
Thanks in advance
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Hi - have a look at Clear Books - they have VAT MOSS for VAT registered and non-VAT registered businesses. You set up customers with their EU address and, when creating a sale and choosing the "Digital services to EU consumer" treatment, it will present you with a list of the appropriate VAT rates for that customer's country.
You can then create a report for the VAT MOSS return.
Hi again - the way I did this in Clear Books for a client was to upload the Paypal statement as a bank statement (ie not using the auto feed) making sure that the first characters on the line description were the name of the country.
This is then picked up by a bank rule put to a generic customer account eg "French consumers" using the digital services VAT treatment.
It won't automatically select the appropriate country's VAT rate but so you have to do manually, per entry. From memory, the problem is that some countries have differing VAT rates depending say on whether the supply is software or books, so not sure how automated all this might be.
The alternative, maybe, is to do the work in Excel, so you'd sort all the French sales into a single sum, with the value of the VAT you want for that country, then import the totals as sales invoices, which, in CB, can record the sum of VAT rather than rate. Just a guess.