Amazon Sales and Profit – Oct 2016

Amazon Sales and Profit – Oct 2016

Update on my sales for Oct 2016. So far, my best month to date, in terms of sales figures 😀 But unfortunatly, take note that sales figures can be misleading. The FBA cost is more than Sept, probably because I started sending in more items for Q4. Also, I spent more on advertising. Snapshot from Amazon Seller Central for the month of Oct below. All figures are in USD unless otherwise stated. Grand total of $8,239.57 product sales for the month of Oct 😉 My Amazon Payout : $5710.56 <— This is the amount…

Expansion to UK – Part 2 : Interium VAT Payment

Expansion to UK – Part 2 : Interium VAT Payment

So, basically I’ve not even sold anything in UK, and I’m already due for a interium VAT payment of £900. Gee. I’m under the annual accounting scheme. You can join the scheme if your estimated VAT taxable turnover is £1.35 million or less. Under this scheme, I’m required to make advance VAT payments towards my VAT bill – based on my last return. Since I’m new to VAT, it’s an estimate based on my projected turnover when I submitted my VAT application. Wished someone had told me that -.- Anyway, when I submit…

Expansion to UK – Part 1 : VAT Application

Expansion to UK – Part 1 : VAT Application

Been racking my brains to increase my sales. I have two options, increase the number of SKUs I’m currently selling. Or expand to another market. I opted to expand my operations to UK. Part 1 : Applying for VAT I decided to outsource this part of the process. Why? I simply feel that it’s a headache I don’t need 😉 Time is money, and my time is better spent on other aspects of the business. I decided to engage Simply VAT to do VAT registration on my behalf. You can email them…

Setting Up A Business Bank Account in Singapore

Setting Up A Business Bank Account in Singapore

The first thing after incorporating my company, was to set up a Business Bank Account. Every business will have their own needs. These are the criteria I’m looking for : Low minimum balance I’m frankly not interested in any bank that requires me to leave 10K sitting there so as not to incur fall-below fee. The lower the required amount, the better. Low or no monthly subscription Since I already have to put a sum of money there to meet the minimum daily balance, paying a high monthly fee simply does…

Getting a US Phone Number – Skype Vs Sonetel

Getting a US Phone Number – Skype Vs Sonetel

It would definitely look more professional if you were to have a landline number when you are operating a business. I’m basically looking at either getting Skype or Sonetel. Since most of my operations are currently based in the US, I’m looking to get a US number. All prices in USD unless otherwise stated. Cost Factor – Number Subscription A 3 month subscription for US Skype Number would cost $18.53 after a 5% discount. A 12 month subscription for US Skype Number would cost $52.26 after a 33% discount. Contrast that with…