It’s important to keep track of the individual transactions that have happened in order to correctly account for tax – we are not allowed to simply set-off your purchases against your sales.
Example:
1. On July 10th, someone buys one of your scores for $10 – Score Exchange will pay you $5 for this music. You now have $5 available to spend in your Score Exchange account.
2. On July 20th, you use the funds in your account to complete a purchase for $2.50. We will send you an invoice and receipt for this purchase just like you used your credit card for the payment. You now have $2.50 available to spend in your Score Exchange account
3. On August 15th, Score Exchange raises the normal invoice from you to us. The total of this invoice is $5 as this includes your sales to us during July.
4. Score Exchange pays you $2.50 (your invoice value less the amount that you spent) to balance the account to zero.
