Good summary of seller and paypal fees

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United States United States
ljeanbeans
Kudos: 110
Joined: Nov 23, 2010
starstarstarstardim star
Good summary of seller and paypal fees
4 Mar 2011
This eBay seller application is great for automatically recording PayPal and eBay fees, and anything else that gets done directly through eBay - such as payments and shipping - and records them for you permanently.
You can add additional income and expenses, creating your own categories, for things it does not automatically record.
Simple, straightforward and user friendly - it does not use the standard accounting procedures of credit and debit. Instead it just records everything in laymens terms - Money In & Money Out.
You cannot export this information. You can add a bank account - not linked - if the site knows about the bank you're using already.
You can create Profit & Loss, Types if Income, Best Customers, Biggest Vendors and Your Spending Reports. The Profit & Loss report can pass as the standard accounting report. Outright automatically estimates your taxes.
United States United States
ljeanbeans
Kudos: 110
Joined: Nov 23, 2010
Looking into it further
11 Mar 2011
Just for eBay
If your bank is already on their list, then the bank it automatically linked. If not, then you can import your data from your bank with a .csv file.
You can also export your transaction info by downloading a .csv file.
This is not very helpful if you use an accounting software the doesn't use this format.
Also, it doesn't automatically record shipping you pay through PayPal.
It does link with PayPal, up to 1 calendar year prior to linking. Beyond that, you can import .csv
It still earns a 4, in my opinion, because it's free and looking to expand....
They are working on integrating with Google Checkout, and getting PayPal to separate out the Sales Tax Income for easier tax purposes. They want to do this.
Automated accounting is the way to go, when you're looking at a set of 3 fees + Shipping + Sales tax for each eBay sale.
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