Ebay refunds

[Mary123]

Can I just confirm that I am doing the correct actions on Ebay sales.

1. I am down loading my sales from Ebay and creating a excel spreadsheet and reconciling to the bank payments received.
2. As there are a lot of transactions I am doing a manual monthly invoice quoting sales for the month. Should I be downloading to Quickfile from the spreadsheet or am I correct in what I am doing.
3. I am creating a fee invoice downloaded from Ebay.
4. How do I deal with a refund to customer and fees- credit notes

I am vat registered under cash accounting but I understand it is when the customer pays to Ebay not when I receive it in my bank.

[QFSteve]

I am down loading my sales from Ebay and creating a excel spreadsheet and reconciling to the bank payments received.

Correct and all good

As there are a lot of transactions I am doing a manual monthly invoice quoting sales for the month. Should I be downloading to QuickFile from the spreadsheet or am I correct in what I am doing.

I would perhaps do what you are doing now, but using a spreadsheet. Under MTD, transaction should be stored digitally, But that said, eBay would be the true record

I am creating a fee invoice downloaded from Ebay.

Correct

How do I deal with a refund to customer and fees- credit notes

I have outlined 2 ways of doing this below with this example

Daily gross sales = £300 inc VAT
Refunds = £50 inc. VAT
Makes net sales = £250 inc VAT

You could just put a negative line on the sales invoice as shown below
(Tip tick line totals inclusive of vat and enter the gross in the last column)

Alternatively you could

• Create a sales invoice for £300
• Create a credit note for £50

So the balance overall is £250

This creates a bit of extra work, but it makes it clearer