Ebay Managed Payments and QuickBooks Online Uk, How to record your sales!
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- Опубликовано: 26 авг 2024
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My name is Aaron Patrick, as an official Intuit QuickBooks Certified Trainer, I thought it would be good for me to give you a little tour into the world of QuickBooks Online!
In this series, we will start at the basics and work our way up to the more complicated areas for QuickBooks.
I am a Chartered Accountant, with accountancy practise that has 200+ licences with QuickBooks; my aim is to pass my knowledge onto you guys! No matter if you are an accountant, your self or a QuickBooks Online user, I am sure I can help you on your Journey!
If you need any further help, or if you would like a discounted copy of QuickBooks then visit my sponsor: www.Boffix.com, they can provide QBO training and support while also providing discounted QBO licenses!
Subscribe to the QuickBooks Chap channel, for more QBO Tips and Tricks / News and Reviews and all things Tech! Also, AppleCore Accountancy is perfect for bookkeeping with QuickBooks Online Training & Quickbooks Tutorial
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It was a pleasure to do this video, don't forget to like and subscribe :D
Omg this . Saved. Me!!!!! Thank you so much. I had the clearing/control account but my payouts werent directed there so it was throwing everything off. Thank you soooo much.
Any time!
This is an amazing video aaron
I'm watching again, missed the beginning. ;)
Let me know if you need any more content on eBay managed payments, looking at QB SE and also dealing with much more transactions!!!
Hope you can do one for other marketplaces like ets y. And Amazon next
Hi Mark, hope you are doing well and Jack is looking after you! other Market places are in the pipeline, Thanks!
Good video!
Thanks Kelly, do let me know if you have any content that you would like me to cover
Was looking to do this cumulatively for historical sales which I can't import with onesas as being too far back. I'm VAT registered so when I add the information into the sales receipt there is a discrepancy between the VAT on the receipt and my sales records - how can I get this to tally?
It’s all based on the EBay reports if you are doing a one off change 👍
Hello Aaron will you be touching on QB Self Employed as well? Now baffled on how to keep track of sales, expenses etc.
Hi Scott, no problem its on the list to film, many thanks Aaron
I second this .... I am so stressed out and confused by it all!! Bring back PayPal
😭😭😭😭😭
@@TheQuickBooksChap Has this been done. I am in the same boat. Cheers
One of my bigger issues has been that the eBay fees not directly associated with the sale such as seller coupons, promoted fees, insertion fees, upgrade fees (also postage and any dispute fees) are taken at source before your bank payment but not pulled in per sale with sync software. This is a nightmare to add later and has to be done manually on a month by month basis.
Agreed!
Brilliant video and very well explained! Thank you for that!
I hope you will make one for Etsy too☺️
Thank you, I will add it to the list :D
Great video. I have a quick question. I have been on eBay manage payment for about three weeks now. I have not set up a control account that I have already inputted some of the transactions on a sales receipt. But in the sales receipt I didn't put any eBay fees with them. So can I retrospectively go back to the payouts and set the category to the control account, after I have set it up, and then go back to the sales receipts that I have already completed and and in the eBay fees and set the sales receipt to the control account?
Yeah exactly that, the control account with give you confidence - i would also recommend you see my video on one sass as its an automated way of adding eBay which is free of charge
Awesome and Subscribed!
Thank you, appreciated it
Thank you so much for producing these videos. I'm planning to have a go translating these steps to Xero but I'm still a newbie and getting used to it. Is there any chance you could do a video for Xero as well or give some brief instructions that might help? :)
Hi Tarek - will be looking at Xero in the coming weeks, many thanks
Hi Aaron -Thanks for the great video, was getting a little stuck as far as the managed payments and how to account for the transactions. I am in the same position as E-Coco Products. Initially set to VAT but was showing the VAT twice, so have changed to how E-Coco has done and this has made my control account correct. Is the the right way to do this if you are VAT registered?
How do you account for sales tax?
Hi Aaron, we make around 1000 item sales per month. Would this work for bulk / weekly uploads as we would never have time to do each item like this? Thanks and great videos.
I did a video on this very topic: ruclips.net/video/87xJdqdSsQY/видео.html hope this helps, let me know if you still have issue
@@TheQuickBooksChap Thats wonderful, thank you so much.
Aaron my main man... I use Quickbooks Desktop 2018 any videos on how to do this on there?
I don't currently have a work around - but will look at this in more detail - thanks
Aaron, I'm just starting out selling and have starting using Xero would you recommend QuickBooks more ?
I use all the bookkeeping platforms and I do prefer QuickBooks for Small business, Xero has its place but for ease of use QuickBooks normally wins, if you are happy with Xero then functionality wise you are not losing out as both of the solutions are pretty much feature parity, maybe trial QBO for a 2months while you are using Xero to see which is better fit for you? send an email to hello@boffix.com and ask them to hook you with a trial QBO licence - cheers
@@TheQuickBooksChap the pro side xero more app intergrstions. cons lincense is more costly. based on the qbo price you get via boffix
love it!
great video! I'm trying to get ahead around what would be best to work with, eBay recommends oneSaas app, what's adventages working with oneSaas and without? I'm new to it, not sure what would make my life easier. I have from 20-100 transactions from eBay, as well as i want to connect amazon and Etsy to one system. also just registering for VAT now, so need to issue invoices. thanks
Hi Aleks, I have a video planned for the App Store and how to automated ebay managed payments, I have a plan in place to advise on onesaas and also another option :-)
When it comes to VAT you have the option on EBay and you can set the transitions in QBO to automate the VAT
Hey dude, I have a question for you. If you get something for free with the intention of selling it, is that classed as a business sale?
Hi Luke, its all down to intention, if you already have a reselling business and the majority of your eBay sales are for the business, then its tricky to argue that your intention isn't for selling for the business. Alternatively if you don't already have a reselling business then its much easy to argue that's it not a business transaction.
Also in the UK you can earn 1000 a year tax free from any self employment, regardless of intention.
Hi, could you please explain how to incorporate VAT into this. I have tried myself but my control account is showing a minus figure after following all of the steps. I can only assume it's because I'm adding the VAT incorrectly. Thank you :)
OneSaas is your best option - I did a few videos on this, have a look and let me know if any further issues :D
@@TheQuickBooksChap OneSaas sucks, constant syncing issues due to ongoing rounding problem. The support was quick to respond, but useless
Can I create a control account in QBSE. Thanks
Unfortunately not - you just have to post both sides - on your bank to bring that overall transaction to Nil
Hi Aaron, great video and also thanks for you time last month. If i have business income from vinted which has no fees taken away from the initial sale price (buyers pay fees) then i wouldnt need to do anything im guessing?
No nothing needed on vinted - just recored the income as it hits your bank 👍
@@TheQuickBooksChap Also just seen you can't create a control account in QB self employed, is it not possible
@@finchy4021 unfortunately not, Self Employed hasn’t got that functionality
Only QB online 👍
Thanks for the reply, all my information is in QB self employed - is there a way to transfer that all over to QB online
@@finchy4021 yeah if you jump over to our store and grab QB licence from there, we can transfer the basics over 👍👍
This is very confusing. Ebay has made a lot more work
Whats the best way of doing this via the app?
Hi Hannah, watch this space, I have a few ways to speed up the process up my sleeve :D
Next week ill show how the integrations work