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The final Leap I hope from Xero to QuickFile Help Please

Hi Guys

Looking for guidance as I am moving from Xero to QuiickFile.

I have seen the help posts and general docs but still require a little clarity and roadmap moving over.

I run a side hustle on eBay, and I am currently VAT registered but going through deregister process (but due to other reasons and scaling back)

Me setup up is not the norm as per the docs. I have a business account that all my bills and fees come through.

I have a Credit Card just for paying my supplier directly on order of sales. So, I receive an invoice from supplier via their website attached to order, but this is just to show paid. I have no 30 days setup just instant payment.

The feed comes through from Amex and Xero just matches a rule I created to apply COGS at 20%.

This is so I claim this back VAT on these items. This is straight forward, and I guess QF can do something similar.

The awkward bit is eBay I am with managed payments which sends weekly payments that are a little difficult to deconstruct. I ended up using another service Link my Books which does an excellent job, but when you pay £70 month in fees for a large seller no issue, but I am losing money, so I need to cut the fat.

I read on the blog for QF it has an eBay integration (paid), but I cannot see it in the area mentioned!

Does QF no longer use it? The Link my Books creates an invoice break down via its API with eBay which does all the work see here for example these are auto mapped to the correct COA.

Not 100% sure how QF integration works as the docs are a little light on detail.

So, my next VAT return is 7 Feb, and this was the point I was going to move over!

Does this make sense?

Should I just do ‘Import your Trial Balance’ or should I grab as much data as possible?

I am not sure how Xero deals with you when you close account! But if I need data for HMRC in the future I need to provide it. So not sure how to move forward on this.

I will bring over my few Vendors, but my customer sales do not come over as I just get a lump payment from eBay. I can provide reports via eBay interface and save them separately or can you attach to the main deposit transaction from eBay weekly. I am sure I have missed something but thought I should start getting ready to move over and get the data from Xero I that I need.

Hi. For the ebay feed. Go to your bank account screen by clicking on Banking on the top menu. Click +Create to create a new merchant account, choose ebay and fill all other fields.

When done go to that account and click More Optiuon at the top. Click on Setup Feed
image

Hope this helps

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Hi
Thank you, eBay part setup, just waiting for others parts to be covered when people get time.)

Hi @Osopolar

Spot on - if you have a bank feed set up with Amex, we can import these transactions for you automatically. Tied with bank tagging rules, you can automate the process to create the purchase invoices and account for the VAT too.

Glad to hear you managed to resolve this, but any problems, just let us know :slight_smile:

It’s worth noting that although your return is due by 7th Feb, the actual cut off would be sooner. Assuming that’s the last day for submission, I’m guessing your VAT period would be 1st October - 31st December, so if may be best to have a bit more data coming across than just from 7th Feb.

Let’s say you bring across your records as of 1st January 2022; importing a trial balance as of 31/12/2021 would set it up ready for the new data from 1st Jan. Hopefully that makes sense?

Hi
Did you see the screen shot in my post re how Link my Books produces a Invoice from eBay and adds it to the transaction?
Can QF do this ?

Apologies - I missed that!

We do import a number of types of transactions (will confirm shortly). I believe they are kept separate for you to tag as you wish, but again, you could automate this with bank tagging rules.

I’ll come back to you with some more details :slight_smile:

That would be great because eBay has made it so confusing. Like for sales to the EU that remove the VAT from the item and pay HMRC themselves. So as a seller you would not know unless you go throuigh all the sales but Link my Books picks up via the API and lists it as you can see with the expample

Hi @Osopolar

Just to confirm there are 3 types of transactions we look for. I’ve taken the descriptions of each from the eBay documentation:

SALE
This transaction type is the sale of an order.

REFUND
This transaction type is a buyer refund.

NON_SALE_CHARGE
This is a non-transactional fee billed to the seller by eBay. These fees can include listing and listing upgrade fees, eBay store or other subscription fees, and ad fees.

Hi Mathew
Could you raise the issue or add as a suggestion how Link my Books does it. Your way I could end up paying VAT twice😳
Also you would get 1000,s of new paying clients. Reason being LMB only transfers to Xero so it’s a rip off paying £75 a month for both.

Hi @Osopolar

You’re more than welcome to start this as a feature request - just start a topic in the #feature category, and we can monitor the interest from other users.

HI Mathew
I will do that no problem, no doubt the data is there on the eBay API, so as you are already dragging data from their it wouldn’t be too much work.

I have a few more enquiries which I need a little help with; in respect to integration, once that is done i am happy how most of the other areas work.

I would like to know if you have a more private email to view my trial of balance which has data i do not want on a forum.

Hi @Osopolar

For queries that you do not want to discuss on the public forum feel free to start a private thread with QFSupport who will be glad to talk you through anything.

HI Sian
How do i do that ?

https://community.quickfile.co.uk/groups/qfsupport

Just send a message to them, using the link above and click on message

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