Thank you again.
I almost cry…i only have few day lefts to finish this Profit and Loss Statement and Balance Sheet…but seem that i made everything wrong
The Net Sales is on the statement that download from themeforest.net, its call Income Summary to Earnings Account, so i just use they name to record like net sales, author fee etc.
The Price on the image is just example.
The Statement which download from themeforest.net like this (this price is just example)
Income Summary to Earnings Account
Net Sales $100.00
US Backup Withholding Tax (withheld) -$20
Envato Author Fees -$30
Total: USD $50
Net Change to Earnings Account
Yes i am not live in US, so they Fill the form 1099-MISC, its has follow info on the form
(price is example)
Royalties $100 (Net Sales amount on statement),
Federal income tax withheld $20 (US Backup Withholding Tax (withheld) amount on statement),
PAYER’S name is Envato (themeforest.net)
RECIPIENT’S name is my name
Here is the price about author fee, net sales etc…
An item’s sale price is made up of four parts:
List price: The price shown to customers on the item page (item price plus buyer fee).
Buyer fee: The portion of the list price that represents Envato’s fee to the customer (this is a fixed fee in categories with author-driven pricing).
Item price: The price paid to the author for the item license.
Author fee: The portion of the item price that represents Envato’s fee to the author.
When i sell a item on themeforest, for example the item price is $110 (list price)
buyer pay $110 to buy the item, the buyer fee (for example $10) is nothing about me, so the statement will not show it, only will show
$100 net sales
-$30 author fee
-$20 US Backup Withholding Tax (withheld)
I dont know tax and accounting, and i have problem with my accountant, now i dont know what to do.
I saw she put the author fee, US Backup Withholding Tax (withheld) on the income ( deduction item)
Look like the second record from me.
So i dont know why she do that, yes i cannot ask her now…
Seem that i dont need file any tax return about US Backup Withholding Tax (withheld) because seem that themeforest will do the work about it, i saw 1099-misc pdf copy in my user account on themeforest website.
I also think i should not put author fee and US Backup Withholding Tax (withheld) in income that why i think my accountant doing wrong…but i never hold the author fee and US Backup Withholding Tax (withheld)…I need REPORT TAX on my country (not US) from the Profit and Loss Statement and Balance Sheet info, i should put US Backup Withholding Tax on my assets or have other method? Because i dont really earn that much (plus the US Backup Withholding Tax).
So can someone give me some idea how can i record my earning on themeforest? i already ask themeforest, but no answer from they can help me, they call me ask my accountant, yes i know…i should do that but i cant…
Thanks everyone…i really need some help, please, thanks all