Ask HN: How do you deal with accounting for your EU SaaS?
1 comments
We use Recurly, Stripe and FreeAgent. Recurly creates the invoices required for customers (so thats nice and simple).
Our book keeper creates an invoice for each day within FreeAgent, we then attribute the amount that came from Stripe in to it.
We then download the CSV data from Recurly and work out how much VAT should be attributed to the specific invoice.
We also work out currency gains/losses as well here.
FreeAgent lets you add a VAT item to the invoice.
It's a bit of a pain but gives our customers what they need, and it gives us what we need from an accounting perspective.
Recurly stores all of the transactional data if we ever need to go back and audit it for any reason.
Hope this helps!
Our book keeper creates an invoice for each day within FreeAgent, we then attribute the amount that came from Stripe in to it.
We then download the CSV data from Recurly and work out how much VAT should be attributed to the specific invoice.
We also work out currency gains/losses as well here.
FreeAgent lets you add a VAT item to the invoice.
It's a bit of a pain but gives our customers what they need, and it gives us what we need from an accounting perspective.
Recurly stores all of the transactional data if we ever need to go back and audit it for any reason.
Hope this helps!
How do EU companies deal with this? I think I want to put a single transaction into Xero each time we get paid by Stripe, but the hard part is figuring out the VAT of that amount as some of our products are VAT-able and some are not. I want to avoid having to write anything but I think I am going to have to...
Is there a "textbook" way of dealing with this? Currently we are just going
Stripe > Load of Messy code that breaks all the time > Xero
and thinking this:
ChargeBee > Stripe > ??? > Xero
Would be simpler but it still doesn't appear to get us 100% of the way there...