The challenge
A multichannel online retailer’s accounting integration needed review for overseas sales and foreign-currency transactions. Historic platform records showed transactions whose VAT treatment needed correcting.
What we did
Our team investigated the integration settings and gathered order-level evidence from the sales platforms. We reviewed the relevant marketplace records, corrected the VAT settings for the transactions under review and posted the historic adjustments in the accounts.
The result
The posted adjustments reduced the VAT payable calculated for the affected period. Filing the return remained with the retailer’s existing accountant; the documented outcome was the adjustment to the calculated liability.
The takeaway
Accounting automation still needs checking against the underlying transactions. In this historic review, the order-level records were essential to understanding the entries and supporting the corrections.
The treatment of cross-border sales depends on the circumstances and rules applying to the transactions. This case describes the work performed, rather than a general rule for overseas sales.