In fact, you'll see all your selling fees and commissions taken out on a single eBay
invoice, which is much easier to keep track of and you'll get direct deposits straight into your bank account with automatic payouts. Funds can be seen quickly, even if you're accepting multiple payment options through eBay
Did the blogger believe eBay
press releases? Since it was written, eBay
has announced major changes to their fee structure in August as soon as more sellers are incarcerated in Managed Payments. They also announced that fees would be deducted from payments, potentially setting the stage for an accounting fiasco for high volume users. Where did the blogger find the term "single invoice"? Nothing has been announced. Information from the Orders report is needed to make sense of the Payouts report. Fees were removed from the report about a month ago, but still exist in downloadable invoices. Downloaded invoices are complex in structure and are more difficult to process than Orders or Payouts. Neither of those reports are easy to process. In contrast, the PayPal report of balance affecting transactions is formatted for relatively easy import into Excel.
Integers like the eBay
listing ID must be formatted as integers instead of scientific notation. Dollar amounts must also be formatted. These activities take time and assume at least intermediate level skills with Excel and access to Microsoft Office.
Finally, the sales tax mess has been instructive. It was almost four months after eBay
started collecting sales tax before a column for site collected sales tax was added to the Orders report. It was another year before amounts for multi-item orders started to appear. Will it take eBay
another year or so to fully debug Managed Payments reporting? Time lost to accounting and paying taxes means preparing fewer stamps to sell.
The PayPal transaction report is far superior to the eBay
Orders report and the Payouts reports. Sellers who fail to download the eBay
Orders report within 90 days may lose data essential for completing sales or income tax forms. Does eBay
plan to fix this before July 20th? Fee related columns were recently removed from the Payouts report. How will sellers reconstruct their income and expenses once eBay
deducts fees from payouts? Does eBay
assume that users can survive without correct accounting data for a few months or that they not miss knowing what their sales and expenses are?
As it is, completing 2019 taxes has been a major undertaking. Why is eBay
unable to provide a report summarizing 2019 sales, tax collected by the seller, tax collected by eBay
, shipping and other charges to the buyer and seller fees. It would also be nice to have a complete yearly report at the listing and order granularity detailing the selling price, buyer paid fees and seller paid fees. Why should sellers waste incredible amounts of time gathering and reconciling data that eBay
has already collected and could easily distribute to sellers?
How many sellers have enough time and experience to develop extract, transform and load (ETL) data mining software to capture eBay
accounting data? How will eBay
sellers construct an accurate financial picture of their business and be able to file accurate sales and income tax returns?