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How do I record solo ads or fiverr payments via paypal as business expenses?

by Ippokratis Boboras
5 replies
Good evening,

This is for business owners. I talked with my accountant last day and she told me that my sellers must issue invoice to me in order to record those purchases as business expenses.
When we buy solo ads or fiverr gigs through paypal, we have no invoices, right? How we can handle this? Is it possible a simple transaction via Paypal to be recorded as an expense? Any expenienses?
#ads #business #expenses #fiverr #payments #paypal #record #solo #solo ads
  • Profile picture of the author DIABL0
    Tell them to send you an invoice whenever it's not a physical product.

    I don't ever pay for anything with out an invoice or receipt and I always use my business account.

    Are you using a business paypal account?
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  • Profile picture of the author Ippokratis Boboras
    Yes I do. Actually I live in EU and my business is based in EU. As I know, the EU invoices require the register VAT number of the supplier that sells the service. But in solo ads industry, 80% of the people live in US, so they don't have a VAT number? Or they have to register their business for EU VAT.
    Need help
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  • Profile picture of the author osensnolf
    The receipt is only needed if their is an audit. As long as you have a paper trail or can create one (ie: you loggined into your PayPal or Fiverr account), that will be sufficient. I wrap all of my Fiverr expenses into my Marketing line item.
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  • Profile picture of the author Javisito
    I don't know about you guys but here in Sweden which is a member of the EU it is enough if you just get a receipt.
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  • Profile picture of the author Ippokratis Boboras
    Finally the solution is this. If you buy from EU countries the seller must issue invoice with his registered VAT number. Otherwise it is ok to issue a reciept with the business details.
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