Is anyone familiar with Ebay selling? I've asked my client to get a selling history report to list all his sales which have taken place over the last tax year. I do his returns annually. However, it appears that the "sellers" report has to be subscribed and downloaded each month, then it gets deleted. And if you don't long on and download every 60 days, the subscription is cancelled. Is there nowhere you can get an annual report showing everything which has been sold over the last tax year? It doesn't appear to be very user friendly when it comes to tax returns!
He has sent me a paypal report, which I can pick out the sales from there, with great difficulty, but I always worry about missing something from there.
Bar going through every email for the sales and printing it off individually, is there any other ideas?
Presumably all ebay sales will have been paid through paypal? What I do is download the paypal monthly report and you can see at a glance the monthly sales, refunds and paypal fees. Clicking on them shows a full breakdown for the month. Personally I just record the sales and paypal fees as a monthly figure and ensure there's no other income showing on the bank account, but you can record the daily/individual sales if you wish.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Hi Lyndsey
I dropped a client who did some ebay and amazon sales as I frankly could be ar*ed with the palaver, gawd what rubbish systems they have for monitoring and processing! But its not that long ago that I dumped him and I do recall the last VAT quarter he had to get the whole quarter in one go for me and it was almost a full month after the VAT period when he got the info, so ay beyond the 60 days malarky. There is a monthly sales report which you should be able to access and then use with the transaction details from Paypal. Not sure if there were any other reports now, someone else who is more used to the ebay thing will hopefully be along soon to advise.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Hi John You sneaked in whilst I was typing. I had to record the individual sales with mine (maybe thats why it was such a pain) as some the items were zero rated and some standard rated for VAT, plus the spilt product sales reporting was also required.
-- Edited by Cheshire on Tuesday 13th of June 2017 12:58:19 PM
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Good point Joanne, I hadn't factored in VAT. My client isn't VAT registered so that makes things much easier. Apologies for sneaking in lol.
I was thinking after I posted. I'm about to help my son kickstart a buying/selling business, and ebay will be the main sales point. Ebay and paypal accounts have just been put in place, so I will keep an eye out if there's a better way of extracting info from ebay. It sounds though that if you have split sales, it's better to extract the info "live" as it were, otherwise I can imagine it being a right pain in the jacksy
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
OMG I couldnt even extract live data for my client - I never did get admin access for that so you shouldve seen some of the rubbish reports I got. Im sure there are better and easier ways but if anyone mentions ebay now from an Accountancy perspective I show them the way to the next nearest practice.
Does your son know we are now using him as a ginea pig?!!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
