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jay510
Level 1

eBay Refund and Tax

I'm currently using QB Online and my PayPal is linked. Yesterday, I received an order from eBay but had to refund the order right away. Below is what shows in PayPal transactions on QB. Not sure how to categorize and fix this. Any tips? Thanks in advance.

 

Spent $592.63 (Uncategorized Expense)

Received $42.63 (Uncategorized Income, eBay sales tax)

Received $574.14 (PayPal sale minus fees)

Spent $42.63 (Uncategorized Expense, eBay sales tax)

 

1 Comment 1
AlexV
QuickBooks Team

eBay Refund and Tax

Good day, jay510.

 

I'll help you with your downloaded bank transactions.

 

You can add these transactions into your register. From the Banking page, simply click on Add. If you manually recorded these transactions, you can match them to avoid duplicates and discrepancies. Here's the article for your reference: Categorize and match online bank transactions in QuickBooks Online.

 

Also, you can create an expense transaction to record the Paypal fees. From the +New button, select the Expense under Vendors.

 

In addition, it's best to seek some guidance from your accountant for the account/category for these transactions.

 

I'm adding these articles if for more details:

Reply to this thread if you need more help with this. Have a great day!

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