How To Do Your eBay Bookkeeping Quickly & Easily - A2X + QuickBooks Online
HTML-код
- Опубликовано: 16 июл 2024
- Let me show you the best way to do your eBay bookkeeping. I use A2X to integrate eBay with QuickBooks Online for easy bookkeeping!
0:00 Why I use an App for eBay bookkeeping
2:50 A2X set-up
3:15 Set-up Accounts & Taxes
3:50 Download the CSV file of accounts for QuickBooks
6:40 Payouts in A2X
8:55 How it looks on the QuickBooks side
14:00 Profit & Loss statement
I love and only use QuickBooks Online for all my bookkeeping clients. This is my affiliate link: www.smallbusinesssarah.com/qu...
Download the CSV file of accounts you will need to add to your Chart of Accounts in QuickBooks when you sign up for my email list.
www.smallbusinesssarah.com/eb...
Sign up for A2X, this is not an affiliate link: www.a2xaccounting.com/
This video is for informational purposes only and does not constitute tax or accounting advice.
Sarah, I'm so glad I found you! Thank you for your videos. I have a question: if my client purchases items on Ebay, do I need to keep a separate Ebay account, or is Ebay not considered a mobile wallet like Paypal or Venmo? Thank you!
Any eBay purchases should come through whatever payment method they used to purchase the item. And as long as that payment method is linked in QB, then you can just categorize the expense as usual. eBay is not a wallet (unless they are doing something completely new I don't know about!).
Thank you Sara for this info.
What’s your recommendation for accounting app who sell on Amazon and Etsy in the US also sell overseas as Amazon UK
I'm not sure. If A2X works in your situation, then I would go with that.
So, I believe i have found a way to use eBay's monthly statement to input info manually via a journal entry!
Please let me know if any step of this process is invalid.
My Journal Entry:
Channel pending balance = Opening funds
Product sales = Orders minus fees (sometimes plus transfers if its +)
Refunds = refunded orders, fees, credits,
Shipping Labels = Shipping purchases through eBay
Other Fees or any other - balances
Channel pending balance = closing funds
Bank transfers = payouts
It's been awhile since I have looked at the eBay statements. The best test to know if your method is working will be if after you journal entry, the ending balance in eBay holding is correct. Hope it works!
Hi Sarah. This is a great video. eBay is not our primary sales channel. It's hard to justify the cost of A2X integrator. Do you have a video explaining how to put eBay transactions in QBO?
Hi Ron, I tried to use eBay reports and do a similar journal entry method as I do with Amazon, Etsy, and Shopify. However, I found there reports much harder to work with, numbers not jiving etc. This was a couple of years ago, maybe they have improved, one can only hope!
Hi Sarah, thank you for this video. I have a quick question. If I sign up with A2X for eBay now, can it bring in data from the year 2022? I'm on an extension with the IRS and need to get my taxes done soon. Having A2X bring that data would be very helpful. Thank you.
It looks like it might only be able to bring in 12 months of information according to this help article: support.a2xaccounting.com/en/articles/4547706-getting-started-with-a2x-for-ebay-managed-payments
Maybe you could just use your eBay 1099 and other reports to do one big journal entry to bring in that information for 2022. It might get you close enough. Then you could begin A2X starting with 2023 data. Just a thought. I'm not a tax preparer and this does not represent tax advice! : )
HI! Me again. I got everything set up as you instructed in this video. I was clicking "match" for the bank feed and the JE A2X made for Dec-Aug, but then it stopped giving me the match thingy in July-Jan. Any idea what's going on?
I would go back to A2X and the mappings page. Chances are a new type of transaction came through from eBay which needs to be mapped. On the Payouts page you will see the payouts that were not sent to QB. Once you have the new line items mapped, you can send those missing payout journal entries to QB.
Should there be a chart of accounts for eBay Advertising fees?
You can certainly add an eBay Advertising fees expense account and map anything applicable to that. My scenario might not have covered all possible scenrios.
Hi Sarah, Where do you enter in your cost of the products that you've sold on Ebay??? what about the cost of packaging? shipping supplies? etc.,etc.? for the 2022 year i'll have maybe $2000 in sales. i don't know where to even start, weather i need to talk to an accountant? tax preparer? or who? and am stressed out over the whole thing. i like most folks always have used Ebay like a rummage sale to make a few extra bucks- not a fortune 500 company, BUT NOW will have to file all of this with our taxes in 2023 thanks to the government. your advise on who to start talking to? HELP?! :( thanks, jerry
This video shows just a small piece of the bookkeeping puzzle. You should also connect your business financial accounts to QB, and then any purchases made through your business accounts will come through the bank feed in QB. That is where you categorize shipping fees and other business costs.
A2X looks different is it possible showing us how to create the transaction mapping on A2X one by one for ebay. 😭
I know, A2X changed the look right after I made this video, go figure! This is all I plan to do with this for awhile. Just make educated guesses!
@@SmallBusinessSarah A screenshot of the mapping will help. A2X made an auto fill mapping not sure if I should used that. It's for my ebay thanks for reading I did everything manually for last year wanted something that was very simple. I was a godaddy user now I'm stuck on quickbooks 😭