Is there a tutorial re accounting for ebay net payments?
We receive net payments for sales with fees deducted. Our sales are zero rated for VAT but ebay charges VAT on fees. Looking for solution on when tagging bank entries which are received net of fees.
Hello @spq123
You would do this using a merchant account, I have linked the guide below.
https://support.quickfile.co.uk/t/handling-payments-from-merchant-accounts/8865
We also offer an eBay feed which can make the process easier
https://support.quickfile.co.uk/t/ebay-managed-payments-feed/40909
How does the vat be defined and shown?
Hello @spq123
You would record your ebay fees purchase invoices on the merchant account at the relevant vat rate.
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