How money flows, from sale to report

3 quick questions. Pick an answer to see why.

1. A ₱480 Shopee order pays out ₱405.86. What explains the ₱74.14 difference?

Money lost in transit, to raise with Shopee Shopee's ₱72.00 fees and ₱2.14 of tax withheld The ₱51.43 VAT, which Shopee pays to BIR for you

Shopee keeps its fees and withholds 0.5% of the sale before VAT. The VAT stays with you; you pay it to BIR on the 2550Q.

2. What has to exist before anything goes into the books?

A document, such as an invoice or a payout statement A bank deposit A trial balance

Every entry starts from a document. The bank deposit is one stop later, and the trial balance comes after posting.

3. Where do the numbers on the 2550Q and 1702Q come from?

The marketplace dashboards The bank statement The account balances in the books

Returns are the last stop on the path. Dashboards and the bank show only part of the picture; the books bring sales, fees, VAT and withholding together.

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