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!