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Hi everyone, apologies if this is a stupid question, but I am new to digital and quite an accounting novice. I've searched the boards and found many questions regarding eBay fees, but none of the answers quite fit.
I sell on eBay a lot, and the banking deposits they make have already had fees deducted. I understand I can raise a receipt for those fees, but then this causes my balance to be lower, as the deposited amount has obviously already had them deducted.
How do I balance this? - Please note that due to the package I use, I can't use any of the linking software such as the eBay app, Snyder etc to import my transactions,so unfortunately I am stuck to a manual system.
I've been using a spreadsheet to now which is SO much simpler, as I can add the total sales (instead of deposit) and fees in their applicable income/expenses columns, which then results in the correct deposited amount change in my balance without any fuss.
I am a sole trader using the cash basis, and under the income level requirements for making tax digital so don't HAVE to do things this way. Is the reality, that it IS much simpler to keep to my spreadsheet?
Many thanks in advance for your help! :)
Solved! Go to Solution.
Hey there, @DGORDON333. Let me share another way to handle transaction fees.
If your bank is connected to QuickBooks Self-Employed, you can split deposits to include the fees. Follow these steps:
If you prefer using the spreadsheets, ensure the data is in the correct format before uploading it.
If you have more questions about working with bank feeds, let me know in the comment section. I'll be right here to lend you a hand. Have a good one!
Hey there, @DGORDON333. Let me share another way to handle transaction fees.
If your bank is connected to QuickBooks Self-Employed, you can split deposits to include the fees. Follow these steps:
If you prefer using the spreadsheets, ensure the data is in the correct format before uploading it.
If you have more questions about working with bank feeds, let me know in the comment section. I'll be right here to lend you a hand. Have a good one!
hi
I cannot split as the fees they keep are in Ebay
I cannot use SYNDER as i am a small business selling on Ebay.
any other ways please
i
Hi there, @APANININS. I'm here to lend a hand on how you can split your eBay transaction fees.
QuickBooks Online (QBO) allows you to integrate with several third-party apps and software. While we can't recommend an app you can use to integrate with QBO to help you track your sales, expenses, and fees from eBay transactions, you can search for an app from the App Center.
Here's how:
On top of that, I've also included this reference for a compilation of articles you can use while working with us: Sales and Customers for QuickBooks Online.
Please keep me posted by replying to the thread. I'd be delighted to help you manage your transactions. Stay healthy always!
You will need a 3rd party connector. How much is your budget?
$17/month for up to 200 orders/month, single marketplace (e.g eBay). Is it ok?
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