Bruce. There should be no problem just adding additional lines for each sale and shipping label purchase and fee transaction to the single transaction with the debit entry to your check account being the payout figure.
Alternatively if you have the gross amount of each sale available you can calculate what you receive from each sale and could post each individual sale as a transaction and instead of debiting your cheque account, debit an accounts receivable account. When you record the transaction for Ebay's payment to you at the end of the day, you credit the accounts receivable and then debit your cheque account. The amounts should match. What is more appropraite will depend on your reporting requirements and taxation legislation. This is where you need your local accountant. David Cousens On Fri, 2024-05-31 at 10:25 -0400, Bruce Griffis wrote: > I’m looking for help in figuring out GnuCash for a small eBay > reseller, > basically selling items from home, but occasionally purchasing an > item > for resale. I’m looking at this from the perspective of viewing sales > from the My eBay / Selling / Payments / Total Sales page. > > > Under Assets, I have Checking account, Savings account, Cash account > and > eBay Inventory account (I get that GnuCash does not support inventory > – > I just build this using a CSV export from Libre Office Calc). Under > liabilities I have a secured credit card. > > > Under Income I have eBay Transactions (and I want this to reflect the > eBay All Transactions page). Under expenses I have eBay Final Value > Fees, eBay Shipping Labels and eBay Refunds. I also have standard > small > business chart of accounts to support basics of purchasing boxes, > bubble > wrap, bubble mailers, tape, poly bags, … > > > When I look at making just one sale in a day, this approach works > pretty > well: > > On eBay All Transactions I have one entry that gives Date, > Description > (the item that was sold), > > Amount (this is gross amount), Fees (this is eBay Final Value fees), > Net > (the net amount I receive – if I pay shipping (offer free shipping), > net > gets reduced by my shipping label costs), Total Funds. > > > I then see a second transaction under All Transactions for the > purchase > of the shipping label. This includes Date, Description, Amount and > Net. > Since Total Amount is the amount in this account before payout, my > total > amount in this account gets modified (it gets reduced by shipping > label > amount). > > > I then see a third transaction. The third is my payout. This includes > Date, Description, Amount and Total Amount. Amount is the dollar > amount > that hits my checking account in two business days. Total Amount is > the > Total in this account (eBay Funds? I need to figure out what to > descriptively call it). If I only had one sale in a day and did not > make > any new sales then Total is zero. > > > To reflect this, I enter a split transaction. > > I enter the Date, Description and Gross amount for the sale. > > I enter another transaction in the split. This is Date, Description, > eBay Final Fees (an expense). This goes into Expense account eBay > Final > Fees. > > I enter another transaction in the split. This is Date, Description, > Shipping label cost and goes to eBay Shipping Labels expense account. > > I enter a third transaction. This is my payout. It usually simply > matches Imbalance-USD. This goes to my Income account Checking. > > > When I look at my checking account, I can match it by the dollar > amount, > but since payouts post in two business days, the date does not match > up. > But it is simple enough to figure out. > > > Things get way out of hand when I make multiple sales in one day. I > would enter a split transaction for every sale, so if I had four > transaction – I would show four split transactions made up of the > sale, > the final value fees, and the shipping label. However – I would only > have one payout. So if I take the income from the sale and post it > directly to checking, I end up adding 1 of 4, 2 of 4, 3 of 4, … to > the > front of the description field. Then when looking at my checking > account > – I would need to add together each individual transaction to equal > my > payout. Now I am not matching on date (posted two business days > later) > and amount (I need to add individual sales together to correlate with > the days payout. > > > Additionally, Refunds get pulled out of the running eBay Funds > account > (that I need to create in GnuCash). If the funds in that account > aren’t > enough t cover it, the refund comes out of checking as a direct > debit. > > Any recommendations on how I would show multiple sales in a day > making > up one entry into my checking account? Do I need another account – > send > my payouts there. Then group multiples in another split (if I can do > that?) to show the days transactions? Or do I need to think about > doing > an accounts receivable kind of thing and bundle multiple transactions > into an A/R account for the day for when I have more than one sale in > a day? > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
