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Level 1

Recording sales transactions from Mercari, Poshmark, and eBay

How do you record sales transactions from these platforms and account for the commission fees and shipping charges? I have my bank linked so the payments show up in QB when I transfer the funds, but I'm unsure of how to enter the rest of it. Do I need to do each sale individually?

 

Any guidance is appreciated.

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Best answer June 16, 2020

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QuickBooks Team

Recording sales transactions from Mercari, Poshmark, and eBay

I'm glad to see you here in the Community, @emwats.

 

You can set up each platform as a Bank account then enter sales and expenses (fee) generated by each source/ store. So you can create a Bank transfer once you transfer funds and can be matched.

 

Additionally, fees and other charges generated will be recorded. If you have an invoice and you'll need to receive a payment you can choose and use those bank account (Mercari, Poshmark, and eBay). 

 

Thus, I still suggest seeking help from your accountant. He/she could escort you on which option to take based on your recording practice and business needs.

 

Also, in QuickBooks Online (QBO) you have the option to include a service fee for products or services you sell to customers. Please refer to this article link for future reference: Add service fees manually to invoices

 

I'll be keeping an eye out for your response on this. Have a good one.

View solution in original post

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Highlighted
QuickBooks Team

Recording sales transactions from Mercari, Poshmark, and eBay

I'm glad to see you here in the Community, @emwats.

 

You can set up each platform as a Bank account then enter sales and expenses (fee) generated by each source/ store. So you can create a Bank transfer once you transfer funds and can be matched.

 

Additionally, fees and other charges generated will be recorded. If you have an invoice and you'll need to receive a payment you can choose and use those bank account (Mercari, Poshmark, and eBay). 

 

Thus, I still suggest seeking help from your accountant. He/she could escort you on which option to take based on your recording practice and business needs.

 

Also, in QuickBooks Online (QBO) you have the option to include a service fee for products or services you sell to customers. Please refer to this article link for future reference: Add service fees manually to invoices

 

I'll be keeping an eye out for your response on this. Have a good one.

View solution in original post

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Level 1

Recording sales transactions from Mercari, Poshmark, and eBay

Thanks for the assistance. I've set up accounts now but still don't really understand how to log the receipts properly. Hopefully one of the accountants I've reached out to will get back to me soon so I can get things rolling. 

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