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HanUK
January 26, 2024
Question

EBay refunds - QB SE

  • January 26, 2024
  • 1 reply
  • 0 views

Hi, very new to this just been learning online / YouTube etc.

 

only sell a small amount right now so trying to do myself.

 

currently I’m manually adding fees and deducting fees to account for revenue on eBay managed payments.


for example sale of £120. EBay fees £20

So I get sent £100 by eBay in to my bank account (I add £20 and deduct £20) so my revenue is £120

 

my question is if I have to cancel / refund a sale, does that initial £120 revenue get cancelled and if so how to do it?

 

EBay will either deduct from next payment or charge my bank but what do I do with the initial £120?

 

thanks Han

 

1 reply

G
GlinetteC
January 26, 2024

Thanks for sharing detailed information about your query regarding handling eBay refunds, Han.

 

I'm here to assist you on how to manage them in QuickBooks Self-Employed.

 

If you have to refund through eBay, you will not need to record the transaction in QuickBooks. eBay had already deducted the amount before receiving it.

 

If not, you must record an expense transaction and select the appropriate category to utilize because QuickBooks Self-Employed does not support category refunds. For more details on categorising the transaction, check this article: Categorise transactions in QuickBooks Self-Employed.

 

I'll keep this thread open if you have other questions regarding managing refunds or relevant issues. I am always available to help. 

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HanUKAuthor
January 26, 2024

So if eBay deduct refund from a future payment I don’t have to do anything.

 

but if the charge my bank account linked to QB which will show as a charge, I need to categorise as a refund or appropriate category? 

 

But wouldn’t the latter still show my revenue as being higher than it actually is?

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emmam6
January 26, 2024

Hello HanUK, to clarify if you have a sale on Ebay and record the sale in QuickBooks including the fees Ebay have charged as expenses. as only sales and expenses in the transactions section impact your revenue, you have options. If this happened the same day you could exclude both the original sale and the refund as they cancel each other out, 

 

However, you should really be recording as much as possible what happened in real life so you would record the original sale and then the expense of refunding it back. You can do that manually by adding the transactions in or waiting to show on the bank and then recording the expense of the refund,

 

Let us know if that makes sense.

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