Hi all,

I have taken on a new client who has an Ebay shop - not very large, but I am starting to see the complexity of ebay fees, paypal fees etc!  I'm hoping someone can advise on a few things:

Customers - should I be entering every single customer on Sage (bearing in mind that most seem to buy single items once), or can I enter as a batch somehow?

Paypal fees - these are deducted from the amount the customer pays on Ebay, so my client receives less - how should I post these receipts?  Should I put a sales discount to an expense account?

I'm just setting up Sage to start her accounts, so haven't posted anything yet.  Any help would be very much appreciated!

Thanks

Gill

GillyP wrote:

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Hi Steve,

Can I come back to you on the above? What happens with the purchases side? I presume as there are no fees involved for Ebay purchases, its simply set up as a purchases account, and the complete day's purchases figure is posted? It just seem so complicated when a purchase is paid for partly by paypal, and partly by the bank account or credit card....

Any advice you can give would be very much appreciated!

KR

Gill

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 If the purchases are for stock and you need to report how much this has cost then I would open a nominal in the 5000 range. Alternatively you could just post to whichever nominal it relates to. I would do this once again as a payment from the paypal account so that this account balances properly.

If you have multiple different ways of paying for one item it might be worth setting up a supplier account, name it whatever you like and post the ebay or whatever invoice to there. Then it's just a simple case of paying the invoice through the different accounts.

So for example say you post an invoice for a computer, it cost £300, and you paid £100 paypal, £100 BACS and £100 credit card. You would then go to the bank section and select paypal account> supplier type in the account you have used and pay £100 off the invoice, rinse and repeat using current account for BACS and credit card account for credit account.

Alternatively you could print off the invoice and reference it, for example I reference my invoices starting with the year then the next number along from my last invoice. All you need to do then is do a payment from each bank account for £100 but reference them all with the same reference, so for me it might be 2013/4568. Then if you need to find the invoice on sage and see how it was paid you would just go to company>financials click search select reference and type in 2013/4568 and voila the three entries you made would appear.

It all depends on the ease and level of reporting you require.