Forum Discussion

lamps's avatar
lamps
Contributing Cover User
5 years ago

recording payment for ebay sales?

how do you record payments from sales from ebay - and charges from ebay? accountright  
  • Melisa_D's avatar
    Melisa_D
    5 years ago

    Hi lamps, 

     

    Thank you for your post. Generally speaking, to record these sales you would need to first create a new bank account called 'Ebay clearing account'. When you record the payment against the invoice, record the amount received to your PayPal account as described by on our help article PayPal payments. Next record a second payment against the invoice manually by going to 'Receive payments.' The amount of this payment should be equal to your Ebay fee. 

     

    This will mean that the invoice is paid in full. There is one last transaction to record. To clear the balance of the 'Ebay clearing account' record a spend money transaction from this account and allocate it to the expense account you use for your Ebay merchant fees (if you don't have one yet, you can make one).

     

    Please do let us know if you have any further questions. 

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Melisa_D's avatar
Melisa_D
Former Staff

Hi lamps, 

 

Thank you for your post. Generally speaking, to record these sales you would need to first create a new bank account called 'Ebay clearing account'. When you record the payment against the invoice, record the amount received to your PayPal account as described by on our help article PayPal payments. Next record a second payment against the invoice manually by going to 'Receive payments.' The amount of this payment should be equal to your Ebay fee. 

 

This will mean that the invoice is paid in full. There is one last transaction to record. To clear the balance of the 'Ebay clearing account' record a spend money transaction from this account and allocate it to the expense account you use for your Ebay merchant fees (if you don't have one yet, you can make one).

 

Please do let us know if you have any further questions. 

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

lamps's avatar
lamps
Contributing Cover User
5 years ago

hello melissa

thankyou for your reply, I have done as you instructed, now how do I get the money value figure into the bank?

Now sitting in the paypal account . acc no 1-1136. Do I just use transfer money?

regards heather

 

 

 

  • Melisa_D's avatar
    Melisa_D
    Former Staff
    5 years ago

    Hi lamps, 

     

    You're welcome ! If the money is transferred from your PayPal account to your bank account, you would need to replicate that in AccountRight. So you're correct that you could process a transfer money transaction. 

     

    Please do let us know if you have any further questions. 

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