Ebay fees as expenses?

[mrvillicus]

I have a subscribed ebay shop and as I can claim back paypal fees but how about eBay fees? From what I see online I can however you can't always trust what you read online! If I can, is it all associated fee's with each sale? listing fee, final value, shop subscription etc?

Thanks Ben

 

[abbasmuraj]

Any expense incurred from ebay and / or paypal is deductible. Your monthly invoice will show the figures for any fees, etc.

 

[mrvillicus]

wow, so for my 1st 6 months of trading I didn't deduct any ebay fees!!

 

[Ste Hughes]

Deduct anything you spend on your business, its as simple as that.

Does not matter if its staples or bank charges, if that is money you would not have spent if your business did not exist then deduct it.

 

[David Griffiths]

Deduct anything you spend on your business, its as simple as that.

Does not matter if its staples or bank charges, if that is money you would not have spent if your business did not exist then deduct it.

If only it were as simple as that! It's OK as a general rule (provided that it's not stretched too far) but there are exceptions

 

[kevin.doran]

Hi @mrvillicus

Are you using any bookkeeping software or just recording it all in Excel or something?

 

[mrvillicus]

Hi Kevin, no I just work out each months accounts and record it in a text document

 

[k100danny]

You get an invoice from ebay each month for your fees, and of course these are a cost and deductable, think of it as cost of sale (rent etc) if you had a brick and mortar store. for ease of use also paypal sales reports are great and show all of your turnover and fees paid very neatly, it also shows refunds and refunds of fees so you don't have to record each sale.

 

[MyAccountantOnline]

I have a subscribed ebay shop and as I can claim back paypal fees but how about eBay fees? From what I see online I can however you can't always trust what you read online! If I can, is it all associated fee's with each sale? listing fee, final value, shop subscription etc?

Thanks Ben

Hi Ben as others have said yes Ebay fees are an allowable expense.

Do make sure with PayPal sales that you record the gross amount received - I so often see people recording the net amount received after deducting fees.

You may well find some proper accounting software which deals with EBay (Accounts Portal is one of many) is a very worthwhile investment.