Quote:
Originally Posted by BigFire
Are you using Nats?
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Yes:
NATS4 XloveCash - TMMwiki
Quote:
Originally Posted by BigFire
How are you guys handling Paxum or Chexx income and expenses? Do you treat Paxum as a bank account or as just "invoice" teh outgoing wires?
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The same way we handle Wire or SEPA payments ...
All affiliate payments made are expensed as COGS (cost of goods sold).
What real difference is money ''in transit'' from actual payment? In the end it is a zero sum balance. Money in transit (or CIT [cash in transit]) is not an asset nor liability it is a payment in suspense ... The carrier bank or agent is liable to us until it can prove its performance (receipt by the Payee.)
We (ACWebconnecting) have no income FROM Paxum or Chexx .
As an affiliate: Income is Income no matter what the source is. You would declare the amounts as the laws of your locale require to do so. If you are unsure -- get a local Public Accountant or CPA (Certified Public Accountant) to set this out for you and explain the options available.