Customer Invoices and payment from ebay
Can’t reconcile part payment of the sales because of deduction of ebay and bank account
Hi @TOM1,
Have you set up your ebay sales as a Merchant account?
Not yet as it used to be paid through Paypal with the same problem
It might be worth looking at the Merchant account thread as this would be the best way to account for your ebay sales
I have read this but i need to invoice all my customers
Hi @TOM1,
This guide may help you: Accounting for income from a payment service provider
I’m new to this but my problem is that by using the figure received in say paypal
Or ebay it inflates my sales figures also my vat
No, it doesn’t. Your sales figures need to reflect the amount you charged your customers, before deduction of eBay or PayPal fees. The fees should be treated as an expense, not a reduction of income.
If you’ve not been including the fees in your turnover before now then you’ve most likely underpaid tax as well.
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