Ebay records

Hi I sell on Ebay and Amazon and I need advice in recording Ebay fees and selling (Amazon later:))

  1. Ebay invoices

purchases->enter new purchase->

receipt number = invoice number?
what is “Supplier Reference”?
category = sales commissions?
description = “Ebay fees”?
Should I know something more?

  1. Selling
    Here is problem. Should I record every selling or only sum from month. To type every customer would be problematic. Maybe some kind of integration:)

Hi @galleksa

You should treat both eBay and Amazon as a merchant account to help log the fees etc. There’s a useful guide on this here. Effectively, you have 3 transactions for every sale - Money in, fees out and money out.

There’s a previous post on these forums which explains this in relation to eBay, which could be useful:

To clarify the labels:

  • Receipt number - this is the auto-generated ID used for QuickFile, you can generally leave this as it is
  • Supplier reference - this would be the invoice number that eBay/Amazon provides
  • Category - Sales commission should be fine
  • Description - I normally recommend to replicate what’s shown on the invoice to help you identify it. Otherwise, something along the lines of “ebay fees, xx/xx/xxxx - xx/xx/xxxx” should be OK

You don’t need to raise an invoice for every customer. In essence, you’d treat it like any other shop, and can log the income daily. There’s a guide to this here. Some users find it easier to do this on a weekly basis, but the important thing is to make sure your invoices don’t cross periods (e.g. into two different tax years).

I hope that helps :slight_smile:

Thank you for your response.
1.This is my invoice from Ebay:

I pay direct debit from my bank account.
Should I split all fees or just make one “EBAY FEES”?

  1. My selling ( pay pal account - example May)

I understand I should create a client called “monthly selling” and sum all “net” from pay pal. The category is general selling?

Ok, from what I understand, you receive payment via PayPal for your sales (minus PayPal fees), but you also pay eBay fees on a monthly basis by Direct Debit from your bank account. If that’s incorrect, please let me know and I’ll revise my answer below.

1. Set up a merchant account
If you haven’t already, set up a new bank account on QuickFile for PayPal:

2. Logging the sale
If you have a lot of sales, you can lump these together. So if you know that in May for example, you made sales worth £250.00 with fees fo £15.00, you can create one invoice for the month (dated on the last day). You can create this for a generic client, something like ‘eBay Sales’, or if you’d prefer, you can create a new invoice for each client that you made a sale to. In this example, I’ve opted for one client, with my invoice looking like this:

3. Receiving the money
If you have individual transactions in your PayPal account (e.g. from the feed), you can either tag them all to this invoice, or you can delete them and enter one lump payment of the £250.00 as money coming into the new bank account (created above). I’ve opted for one lump sum as it’s easy to manage:

Tag it as normal, and the invoice has now been paid.

4. PayPal Fees
Out of the £250.00 we took, £15.00 was kept by PayPal as fees. You can create a new money out transaction for this, and tag it straight to an invoice setup for Bank Charges (or create your own ‘Merchant Charges’ if you prefer) for the supplier ‘PayPal’.

You should now have the net value left:

5. The transfer
We’ve received this £235.00 in our bank account, so simply create a new transaction of £235.00 as money out of the PayPal account, and tag it as a transfer to our current account.

6. eBay Fees
Create a new purchase invoice for the supplier ‘eBay’, and tag the money leaving your account to this invoice, as normal.

Hope that helps!

I managed to create supplier “Ebay” in purchases for Ebay fees. I created client “Ebay Sales” in sales for my monthly sales. I created Paypal bank as well.
I have problem with Paypal fees. Should I create “Pay Pal” supplier like “Ebay”(fees) in purchases? I can’t find page which looks like your pictures:)
Is it not easier to create supplier “PayPal Fees” and make it similar to supplier “Ebay”(fees) - but in this case what would be"Supplier Reference"

Sorry Sorry.
Now I found Banking - Current account - input new transaction.
Thank you. I think Ebay id done:)