I was hoping that there was any a better way to do this than putting in every individual sale. I sell over 100 items per day at very low value. 80 percent of which are zero rated.
I was hoping that there was a way that I could calculate the value of the zero rated sales per month against the value of the standard rate sales per month and put a lump sum figure in for each. I was then hoping that I could put a lump sum in for the seller fees as a cost ( some how cancelling it out because it was paid at the point of sale and then claim the vat against the seller fee lump sum each month.
Is this not possible?
I would be inclend to record your sales on a daily spread sheet under headings zero rated, standard rated supplies, cost of sales and VAT both input and outputs. These would be aggregated brough to your ledger accounts monthly as totals. Thus your monthly position would be correct and could then be used to derive your quarterly VAT return.
That is how I account for my companies' sales, although my quantity is far smaller than yours. In an earlier existance with much larger businesses I operated exactly in the manner I described without the slightest difficulty.