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Kazum A
September 7, 2023
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How to account for Ebay Refund in QB self employed

  • September 7, 2023
  • 1 reply
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Hello,

Im an accounting novice using Quickbooks Self Employed for my ebay business.

I receive regular payouts from Ebay which already have the fees and any other charges taken out so I am receiving the net income in to my bank account.

If I have to refund a buyer via ebay, how do I account for this in QB self employed?  As it is often the case that the funds get taken from my ebay balance before it is paid out to me periodically. 

Do I add a separateexpense transaction in QBSE? 

I tried asking the help chat bot and it said I should add it as a minus figure income transaction but this isnt possible as it turns it into a credit amount.  Do I just put the amount I had to refund as a minus transaction and categorise it as 'other business expense'?

Best answer by GeorgiaC

Hello and welcome to the Community, Kazum A.

 

In cases where eBay has already deducted the refund amount from your total payout prior to your receiving this, you wouldn't need to record a transaction for the refund in QuickBooks. This net payout deposit would then be categorised as Business Income in QuickBooks. 🙂

1 reply

G
GeorgiaCAnswer
September 7, 2023

Hello and welcome to the Community, Kazum A.

 

In cases where eBay has already deducted the refund amount from your total payout prior to your receiving this, you wouldn't need to record a transaction for the refund in QuickBooks. This net payout deposit would then be categorised as Business Income in QuickBooks. 🙂

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