Process flow for Romanian instructor

WowFactorConcept

Hello there, nice to be here! I am Mihaela Stancu from Romania, preparing to launch my first course on Udemy through my company here, and I have a few questions regarding the process from a fiscal and accounting perspective. I'm still waiting from my accountant to confirm if there are any issues with opening an account with Payoneer platform for my company, not sure if this is the best option I have from the cost perspective (here in Romania I just have a normal banking account, IBAN type). Then, I would like to know what am I supposed to do once I start earning on Udemy from my courses: do I issue monthly invoices to you, how should I calculate the amount, what paperwork I need to send to my accountant, anything related to VAT, etc. Is there any guide for specific countries, or maybe I have here other colleagues working through a Romanian company, so I can discuss this topic? I need a clear perspective about what should I do and when, so I'll not have any issues with fiscal authorities here, etc. Thank you!

AlexHorea785

Hi! I am also from Romania, but the process should be the same for any EU country.

I use PayPal, never had any issues with it.

From PayPal I transfer money to my account and then I issue an invoice to Udemy USA with the amount that enters in my account.

You don't need to add VAT to the invoice, since you are issuing invoices to USA.

I only send to my accountant the invoices I create. That is all that is required.

Please note that if you just started creating Udemy courses, it may take a long time until you will actually see some relevant monetary results. The results may be modest for the first months, taking all into accounting may not be worth it. With PayPal, you can keep your money in your PayPal account and transfer them when there will be something worthwhile.