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Post by adrianallan on Feb 18, 2021 21:14:37 GMT
Hello I'm finding it very hard to get my head around these figures. The first are from the January sales report. There are two "LSI" revenues reported - both show a different figure per sale  The second shows what I expected to earn for any sales outside of Lulu for the book "Wings Live".  I am finding it hard to reconcile the two. Has anybody got any ideas? |
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Post by benziger on Feb 18, 2021 21:55:01 GMT
Hello Adrian
The first column seams to be the list price (32.19$, 25.00£). The last column could be your earnings (26.24£ for 27 books in the US; 1.39$ for 1 book in DE and 33.60£ for 14 books in the UK). I write "could" as I do not know the exchange rate between $€£.
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Post by adrianallan on Feb 18, 2021 22:07:09 GMT
Hi
Thanks
But why do you think that the revenue predicted in the second attachment is not reflected in the actual sales revenue of the first attachment?
and why are there two different revenues (when calculated per book) for two sets of "LSI" sales in the first attachment?
Any ideas?
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Post by adrianallan on Feb 19, 2021 9:06:51 GMT
I can't see how that can be the reason - the bottom table sets out the exchange rates very clearly in a number of different currencies. For example, it says that I should earn £2.40 per book. But if you look at the first attachment, it shows that I earned less that £1 per book. |
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Post by benziger on Feb 19, 2021 9:45:06 GMT
Are there any deductions?
Taxes that are withheld?
Otherwise ask Lulu.
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Post by BlueAndGold on Feb 19, 2021 12:38:16 GMT
Your report graphic has too many missing columns. You need to look at all of them. The answer is there.
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Post by adrianallan on Feb 19, 2021 13:00:59 GMT
Your report graphic has too many missing columns. You need to look at all of them. The answer is there. I can't see how The second column of the second attachment says I will be paid £2.40 per book. There are no missing columns. Unless you mean the first attachment - It is many pages long so I had to crop a small section. Obviously I can get a support ticket but I thought there might be an obvious explanation that I am missing. |
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Post by BlueAndGold on Feb 19, 2021 13:36:17 GMT
Yes, the first attachment. It does not tell the whole story. Look at the CSV file you download from Lulu. In it are many columns which describe converted exchange rates, tax withholding, distributor fees, etc. Therein you fill find your answer. I suspect, as ElKen mentioned, exchange rates will be part of it. It appears you are dealing with at least two currencies and distributions in three geographic areas. The CSV file has all the details.
By the way, congratulations on your obviously well-received book!  |
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Post by adrianallan on Feb 19, 2021 13:51:57 GMT
Yes, the first attachment. It does not tell the whole story. Look at the CSV file you download from Lulu. In it are many columns which describe converted exchange rates, tax withholding, distributor fees, etc. Therein you fill find your answer. I suspect, as ElKen mentioned, exchange rates will be part of it. It appears you are dealing with at least two currencies and distributions in three geographic areas. The CSV file has all the details.
By the way, congratulations on your obviously well-received book! Thanks - I knew it would sell quite well as it's a popular topic. I was a bit disappointed by the royaties but as you say, there must be other factors involved. I found it on the CSV file - the bottom row:  |
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Post by BlueAndGold on Feb 20, 2021 1:43:20 GMT
Yes, that 30% withholding hurts.
They hit me for 24% for US sales.
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Post by adrianallan on Feb 20, 2021 8:21:10 GMT
Yes, that 30% withholding hurts. They hit me for 24% for US sales. Can you tell me what that witholding thing is all about? Is it a tax of some sort? Thanks |
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Post by benziger on Feb 20, 2021 10:27:42 GMT
Witholding tax is easy to understand: 1. You have to pay tax on some books in the United States. 2. Lulu pays some % to the US tax office. 3. If your country has a tax treat with the United States, you will get that money back, as you pay your tax in your country.
There you find a lot of information, including links to the forms you may have to download.
Hurry up! Normally, the cut-off date in tax matters is the payment date. If the appropriate form is submitted then, there is a refund; what has already been paid out before is taxed twice.
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Post by benziger on Feb 20, 2021 14:09:08 GMT
I don't want to wake up sleeping dogs - but get you informed, what will be best for you!
As I understand it, this is simply added to "normal income". For example, annual earnings of 50,000 and 500 from Lulu result in a taxable income of 50,500, which probably won't cost much more - unless you move up to the next progression level.
Perhaps your tax system also has a "secondary income", where there is an exemption limit for the sake of simplicity? In our country they want to know this (in case it becomes more), but it is only taxed above a certain amount.
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Post by adrianallan on Feb 20, 2021 18:15:42 GMT
I'm wondering if another print option would be less onerous in terms of tax.
Maybe I will stick to Lulu for my own direct sales from my website but choose Amazon's self publishing options as I don't like fiddling around too much with tax issues and I'm sure I used to get taxed a lot less last year.
So I will review my options. Making £1 per book is not great for me.
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Post by benziger on Feb 20, 2021 22:09:51 GMT
Where is Amazon based? In the UK? Ireland (EU)? USA? If it is in the US, there will be the same issues, same taxes. If Lulu/D2D/KDP/antother US firm owns the ISBN ("free ISBN" provided by them), tax have to be paid in the US. If you use your own ISBN, you pay taxes in your country. See the withold tax FAQ (link above).
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