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eBay Managed Payments

snappyfishsnappyfish Member Posts: 55

Hi,

So eBay have the NEW managed payments system.

I sold an item for £29.99 on eBay
Ebay took a fee -£4.28
eBay managed payments sent me £25.71 Total which shows in wave accounting.

I had a dispute as the couriers messed up my order and eBay then took £29.99 total

So in Wave accounting is shows as £29.99 as withdrawal

What's best way to account/categorise for this?

Thanks

edited October 24, 2020 in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @snappyfish , are you able to adjust the original income transaction so that it shows the merchant fees accounted for with the following Help Center article: https://support.waveapps.com/hc/en-us/articles/115000472306 . This will place the merchant fees in the appropriate merchant fees account.

    Now, if you create a Journal Transaction on the day of the dispute withdrawal and debit the merchant fees account/credit the income account in the amount of 4.28, it should return this amount so that everything evens out from the withdrawal.

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