Important facts you should know

  • It is a mandatory tax office requirement to provide Product NET cost prices to the tax authorities.

  • This information is used when creating monthly EC reports (cross border B2B goods movement reports). 

  • This information will be compared with your filed vat returns by the tax office. 

  • The Product cost price is what you pay to purchase an item and then to have it delivered to a warehouse ready for sale (supplier purchase price + shipping to the warehouse, excluding import / customs vat and duty).

How to upload your NET product cost prices to your software account:

  1. Log into your hellotax software account.

  2. Go to Settings then Products.

  3. Using the filter (top of the screen) choose Status “Active” 

  4. In the same filter area see the word ERROR move the position of the tick to the right with your mouse.  

  5. Click Search.  This will load all active products that need a NET product price entered. 

  6. Select the 1st product and click on the product name area. A new sub screen will open for you. 

  7. Enter your product NET cost price into the VALUE box.  You can choose the currency you wish to use below. 

  8. Click SAVE 

  9. Move on to the next product and do the same! 

*If you have a lot of products and you wish to upload product NET prices in bulk then please follow the steps below or watch the video on the left. 
  1. Click the 3 x dots on the right of the products page and from the drop down choose Export Product List “
  2. Open the download csv file and in Column D state “Yes” to backdate the NET product changes
  3. In column F enter the NET price for each product.
  4. Save the file as a csv and upload back into your software account.