Sage / Ebay question

[Naughtymedia]

I have a question regarding booking of eBay sales on SageOne. I have already done a search, but I can’t seem to find a topic that answers my particular question.

I would like to know how to correctly allocate the sales on Ebay and associated fees for each transaction.

For example:
I sell a product where the total transaction to the customer is for £53.98, which is split into £49.99 for the product and £3.99 for postage and packaging. I currently book this on Sage under a blanket customer called “Ebay sales”

Out of the £53.98 of the sale, eBay passes £45.91 on to us after deduction of their fees of £8.07 (£6.72 selling fees and £1.35 VAT) and sends us a separate invoice for this.

The issue I have is that I am not sure how to book this correctly.

If I book the sale at £53.98 and allocate the payment of £45.91 there remains an outstanding balance of £8.07 to be paid on the transaction. Likewise, I can book the eBay invoice for the fees separately and mark it as paid, but this doesn’t offset the outstanding balance against the original transaction.

I would appreciate it if someone who sells on eBay or who knows how to do this could point me in the right direction or show me the steps I should follow.

 

[johndon68]

• Enter the sale for the full amount as a sales invoice.
• Enter a receipt against the invoice for the full amount, after all, that is how much the customer paid.
• Enter a bank payment for the fees.

If you don't want to enter an invoice and then a receipt to pay it, you could just enter a bank receipt instead.

That way your sales show the full amount, the original transactions is fully paid and the overall effect on your bank is the amount you actually receive from eBay.

John

 

[MyAccountantOnline]

I have a question regarding booking of eBay sales on SageOne. I have already done a search, but I can’t seem to find a topic that answers my particular question.

I would like to know how to correctly allocate the sales on Ebay and associated fees for each transaction.

For example:
I sell a product where the total transaction to the customer is for £53.98, which is split into £49.99 for the product and £3.99 for postage and packaging. I currently book this on Sage under a blanket customer called “Ebay sales”

Out of the £53.98 of the sale, eBay passes £45.91 on to us after deduction of their fees of £8.07 (£6.72 selling fees and £1.35 VAT) and sends us a separate invoice for this.

The issue I have is that I am not sure how to book this correctly.

If I book the sale at £53.98 and allocate the payment of £45.91 there remains an outstanding balance of £8.07 to be paid on the transaction. Likewise, I can book the eBay invoice for the fees separately and mark it as paid, but this doesn’t offset the outstanding balance against the original transaction.

I would appreciate it if someone who sells on eBay or who knows how to do this could point me in the right direction or show me the steps I should follow.

Perhaps a slighly better way to do it is to have a 'bank account' called Ebay in your records; you can then record sales and fees as income and expenditure, and you'll have a transfer from the main bank account to the EBay bank account when Ebay pays you which will equal the sales less fees.