Learn how to create a VAT service item and map it on SellerZen’s Taxes page for EU marketplaces.
If you have Amazon’s Automatic VAT Calculation Service enabled, then you can have SellerZen deposit the VAT collected into a separate account.
We’ll use UK in this example, but you’ll have to make sure you select the correct currency in QuickBooks Online when you’re making the account.
First, create a new account in your QuickBooks Online Chart of Accounts. We’ll call it “Amazon UK VAT”.
The Account Type should be “Other Current Liabilities” and the Detail Type should be “Sales Tax Payable”.
Make sure you select the proper Currency setting, or you’ll receive an error. In this example, it’ll be GBP (British Pound Sterling).
If you’re setting up the account for other EU marketplaces like France and Spain, make sure to select Euro (EUR).
Save the account and create a new service item for the VAT line item. We’ll call it “Amazon UK VAT”.
Save your Service item and go back to the Taxes tab on SellerZen for the marketplace you’re setting up. Make sure you’re in the correct marketplace settings.
That’s it! You’ll have to go through the same process for any other EU marketplace you’re setting up in SellerZen.