thoughts appreciated

Paul C
Paul C Registered Posts: 193 ? ? ?
Hi all,

I am seeing a potential new client on Saturday who describes themself as "e' commerce". Their website shows industrial equipment sales.

Has anyone got any experience of things to watch for with e' commerce business's please?

Many thanks (thoughts appreciated).
Paul

Comments

  • villapb
    villapb Registered Posts: 357
    Hi Paul

    I have dealt with a couple, first thing we look for is cash burn.... the list is long for. Also fraud protection is high on the list .........
  • Paul C
    Paul C Registered Posts: 193 ? ? ?
    Thanks villapb.
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    Paul C wrote: »
    Hi all,

    I am seeing a potential new client on Saturday who describes themself as "e' commerce". Their website shows industrial equipment sales.

    Has anyone got any experience of things to watch for with e' commerce business's please?

    Many thanks (thoughts appreciated).
    Paul

    I deal with a few internet traders and some things you might want to bear in mind are:

    1) These traders should have insurance just in case the thing they sell causes a fire, etc in their customer's home

    2) There is always a paypal account lurking around that needs reconciling

    3) vat registration (if necessary) and not charging vat on sales outside the scope of uk vat, e.g. sales to usa

    4) i'm assuming your client works from home so there's good reason to do a use of home charge

    5) if he's a sole trader, going limited and bringing in goodwill

    if i think of anything else i'll let you know.
  • Paul C
    Paul C Registered Posts: 193 ? ? ?
    Many thanks Reader. Very helpful. In fact, its time to shut down my pc and head off for the meeting at 11...........
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