Forum Discussion

lamps's avatar
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
    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. 


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