- Joined
- Jan 19, 2007
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Have you guys at Sedo ever reconsidered the feature that a buyer can request an invoice after buying a domain name on Sedo?
First of all, the buyer makes payment to Sedo, not to the individual seller. Therefore Sedo should be the one providing the receipt/invoice to the buyer and not the seller.
Why? .. -
Well, Sedo asks you to include the full amount (incl. commission) on the invoice and that is the reason why sellers shouldn't be providing this invoice in the first place.
E.g: If I sell a domain for $2,000 on Sedo, then I get $1,800 net from Sedo after their 10% ($200) commission fee has been deducted. When Sedo release their payment to me, I get a receipt from PayPal (or my bank) which says $1,800, not $2,000. This is the receipt I hand to my accountant and the receipt he use to calculate taxes and income.
On the other hand; when I create an invoice for the buyer, I use the same application as I use when making invoices for my customers (I run a small tech support biz). All those invoices are numbered and therefore I must turn them all in to my accountant. Now, according to this invoice, the buyer has paid me $2,000 for the domain and not $1,800, which is the actual amount I am paid. This causes confusion and if I do not accordingly make notes to my accountant, telling him to subtract the commission fee from that particular invoice, I will get an additional $200 USD income which results in paying taxes for $200 I never made.
On top of that; - the buyer may even request this invoice/receipt before you receive payment from Sedo. In this case I was instructed to provide the receipt to the buyer before Sedo released my payment!
Why is this a problem? Well, if something goes wrong with the transaction and the buyer ends up not buying the domain, he still has a receipt from me which clearly states that he has paid me $2,000 for the domain, in which he can at a later time claim, since he has obviously made payment for this particular domain.
I think Sedo should consider removing this feature and instead provide every buyer with a receipt after payment has been made to Sedo. At least don't make it possible for the buyer to get a receipt before the seller receives payment from Sedo.. :sigh2:
First of all, the buyer makes payment to Sedo, not to the individual seller. Therefore Sedo should be the one providing the receipt/invoice to the buyer and not the seller.
Why? .. -
Well, Sedo asks you to include the full amount (incl. commission) on the invoice and that is the reason why sellers shouldn't be providing this invoice in the first place.
E.g: If I sell a domain for $2,000 on Sedo, then I get $1,800 net from Sedo after their 10% ($200) commission fee has been deducted. When Sedo release their payment to me, I get a receipt from PayPal (or my bank) which says $1,800, not $2,000. This is the receipt I hand to my accountant and the receipt he use to calculate taxes and income.
On the other hand; when I create an invoice for the buyer, I use the same application as I use when making invoices for my customers (I run a small tech support biz). All those invoices are numbered and therefore I must turn them all in to my accountant. Now, according to this invoice, the buyer has paid me $2,000 for the domain and not $1,800, which is the actual amount I am paid. This causes confusion and if I do not accordingly make notes to my accountant, telling him to subtract the commission fee from that particular invoice, I will get an additional $200 USD income which results in paying taxes for $200 I never made.
On top of that; - the buyer may even request this invoice/receipt before you receive payment from Sedo. In this case I was instructed to provide the receipt to the buyer before Sedo released my payment!
Why is this a problem? Well, if something goes wrong with the transaction and the buyer ends up not buying the domain, he still has a receipt from me which clearly states that he has paid me $2,000 for the domain, in which he can at a later time claim, since he has obviously made payment for this particular domain.
I think Sedo should consider removing this feature and instead provide every buyer with a receipt after payment has been made to Sedo. At least don't make it possible for the buyer to get a receipt before the seller receives payment from Sedo.. :sigh2:
