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Tiny payments from Amazon

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Offline cecilia_writer Reading Murder by the Glass by Lynda Wilcox
22 Mar 2014, 08:34 AM | Post: #11

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RE: Tiny payments from Amazon

I too have only just signed up for EFT and it seems it has only taken effect on Amazon UK so far, as I have just looked at the payments part of KDP and although there is an EFT payment in progress for co.uk, there is a cheque on its way from Amazon.com as well for the same month. I took ages to decide to do this but what made up my mind was one month when I could see that my UK payment was nearly on the borderline for them to send a cheque but I just missed out by 50p, or so!
I have only just added my EIN too. My next tax return is going to be slightly complicated with USA tax having been paid for part of the tax year.
The Smashwords method of aggregating the payments and sending all together via PayPal is easier to record for tax purposes but you have to wait quite a bit longer for the payments.
(sorry, rambling on today)
[Image: C15Mdg7JBaS._SL95.png]  [Image: B1hPVOedslS._SL95.png]
Offline navlogan Reading Faust 2.0 by Michael Brookes
22 Mar 2014, 09:07 AM | Post: #12

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RE: Tiny payments from Amazon

(22 Mar 2014 12:38 AM)Tim_A Wrote: Wrote:  I might moan about a lot of things, but never about people paying me money. I've had two coffees of Amazon this month, and if I'd had to wait for £100 in the kitty (funny how Amazon isn't prepared to wait for me to buy  £100 of stuff before they want paying!), I'd still be waiting from last June!

Bottom line, money in is money in. Every little helps... Wink

I'd be with Tim on this, count the pennies and the pounds will come. I've a lot of .015 c from Germany etc, but it all adds up. To be honest, I've already started by recently setting up a excel sheet of all my sales for 213 and 2014. It shows total downloads, how many were free, and how many sales, per country and amounts made in the relevant country's currency. It was interesting to see the peaks and troughs and deep chasms of sales in 2013.
Sadly, at the end of it, I am left with numbers in the local currencies. So I have dollars, (which I have yet to actually see, which only proves to me that America is bankrupt and they don't actually have any money left after paying Congress) £GBP, E£ euros or as we like to say, Yoyos, from my German sales, as Irish sales fall under .co.uk. Thankfully, I have yet to actually make any money in Mexican pescoes/donkeys, or Brazilian nuts/guinea pigs, but hey, its all money to me, so bring it on i say.

Now all I need to do is match up the sales in the nation's currency with the euros I've received in the piggybank. Simple!!!

Regards
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Offline navlogan Reading Faust 2.0 by Michael Brookes
22 Mar 2014, 09:11 AM | Post: #13

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RE: Tiny payments from Amazone Irish

I still have to sort out my US taxes though, to stop them stealing money from me. I'd rather it go to OXFAM than the US Govt. Sheeeet, I object to paying taxes to the Irish Govt, let alone the USA. My dear wife, who is a yank, has paid enough for both of us already.
Offline navlogan Reading Faust 2.0 by Michael Brookes
22 Mar 2014, 09:15 AM | Post: #14

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RE: Tiny payments from Amazone Irish

(22 Mar 2014 09:11 AM)navlogan Wrote: Wrote:  I still have to sort out my US taxes though, to stop them stealing money from me. I'd rather it go to OXFAM than the US Govt. Sheeeet!! I object to paying taxes to the Irish Govt, let alone the USA. My dear wife, who is a yank, has paid enough for both of us already.

Just a quick note to any Brazilians and Mexicans out there, please don't take offense. I am sure, and I mean that most sincerely,  that you have a more robust economy and a less corrupt political system, to say nothing of your great banking system, than we have over here in Ireland, but as my mammy would say, sure it'll be grand.[Image: tongue.gif]
Offline Katherine Roberts Reading I keep forgetting to update this!
22 Mar 2014, 03:40 PM | Post: #15

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RE: Tiny payments from Amazon

Small payments are fine with me - one day they might be bigger ones, and at least money is flowing the right way, i.e. into my bank rather than out!

I'd rather have a micropayment when it happens, than have a publisher sit on it for years... normally, in a traditional contract, the publisher will consider anything under about £25 "too small to pay" and hold it over until the next royalty period (i.e. another 6 months) - one tried for £50, now how is that "small" to an author? And where are all those £25 payments sitting in the meantime? It makes me think of that chap who fiddled the banking software so all the minor pennies from people's accounts ended up in his account where they added up to millions, so I think Amazon should be applauded for promptly passing on the royalties we are owed, however small. I agree it might be simpler to get it all in one lump sum each month, but it's only a few buttons on the calculator. No doubt they have their reasons for accounting separately.
Offline jaim101 Reading Inferno by Dan Brown
25 Mar 2014, 01:45 PM | Post: #16

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RE: Tiny payments from Amazon

I quite like the regular amounts just appearing in my bank account. But I've had a letter from Amazon this week about my tax in the US. Honestly I've barely looked at it because I don't sell enough copies there for it to be a priority. Presumably whatever money they are hanging on to will stay wherever it is until I fill out the required form.
Offline navlogan Reading Faust 2.0 by Michael Brookes
25 Mar 2014, 01:47 PM | Post: #17

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RE: Tiny payments from Amazon

(25 Mar 2014 01:45 PM)jaim101 Wrote: Wrote:  I quite like the regular amounts just appearing in my bank account. But I've had a letter from Amazon this week about my tax in the US. Honestly I've barely looked at it because I don't sell enough copies there for it to be a priority. Presumably whatever money they are hanging on to will stay wherever it is until I fill out the required form.

Try reading this thread http://www.kuforum.co.uk... it might help you to understand
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