Ebay and bank account

How-to
1

I am vat registered.
My products attract 0%
Ebay charge me vat on fees.
I have my bank account and ebay feeds set up. On my dashboard the ebay feed is called ebay holding account. In that account it very nicely shows a credit for the full amount of the sale and a debit for the fees and i have it set for vat on fees. Nice.
However, the ebay payment goes into the current account, meaning that the net payment is effectively duplicated in profit and loss. I am not sure what is the best way of dealing with this. I did a search but couldnt find anything. many thanks

2

Hello @adininja

However, the eBay payment goes into the current account, meaning that the net payment is effectively duplicated in profit and loss.

The payment you receive from eBay should be tagged as a transfer from the eBay holding account

3

Many thanks - that makes sense. Appreciate the help.

4

This topic was automatically closed after 7 days. New replies are no longer allowed.