Will you be covering Etsy by Onesaas as a deep dive in the future by any chance? I'm using Quickbooks Simple Start, operating under cash basis as a sole trader and can't even get past the setup with the app! So far everything I've found is super complicated or not applicable/possible. I fear I'm going to have to enter everything manually like I've been doing with excel sheets the past 2 years haha!
I have Etsy on my list :-) I just need to find the right data source to connect and show for the example I tend to concentrate more on my eBay store than Etsy store, so need to find someone external :-)
If you use PayPal for shipping fees (to get Cash Back rewards) you can link PayPal to QB to track S&H expenses :) You can also use the card on file with eBay for shipping charges, too, versus having them subtracted from your payouts.
How can I import old payouts from eBay managed payments? I just set up onesass today and its letting me grab data from only as far back as May. I would like to include the whole year if possible. Thanks for making this video!
Can Onesaas import the sales into a sales receipt? Before managed payment my sales would be important into QBO as a sales receipt. Then I created a customer, documented the product services (postcards, Records, Books). Can Onesaas do this? I like tracking how many of each products sell.
Thankyou Aaron for uploading this video. Its taking me time too get my head around all this but from this video I have finally linked ebay and quickbooks thanks to this video. Does ONESAAS link your Amazon account in the same way too? Many thanks again. Gary
Hello, I have another question in regards to VAT. Say if I have spend £30 for items purchased as COGS, then I partially return a good for £10 and this £10 in back to my account. How do I categorise this income of £10 as VAT please, will it be sales with 20% vat ? Or COGS purchase 20% vat please thank you
Hello and thank you for the video. I did not understand why ebay payout cannot be directly charged for vat 20% inclusive, and we need to use the amount before payout to calculate please? Will it be charged more vat or less please
Hello, Very informative video. Looking forward to the next one as I am stuck with importing vat on sales, only importing vat on fees and not sure why sales vat are not importing.
How do you reconcile the eBay clearing / holding account? First, thanks for making great videos! Helping lots of people out. The payouts appear to be running correctly: Gross revenue less any fees etc., then the net shows up in the bank account. According to the eBay statements I can see, there is a balance sitting in the clearing account. It's listed as Closing Funds the cover page on the statement. But that number does not match what the Balance Sheet of the same ending date for the eBay Clearing account. Is there a good reconciliation process you know of to get to a correct balance (or else be confident knowing that the incorrect is simply uncleared transactions, and is reasonable)? Thanks!
It should either be Zero if you have no money let to payout.. or it should be the money left for a payout.. any difference if small is normally a fee that's been missed
Where do i record my info for how much i paid for an item and that needs to relate to how much net profit you made on an item. Example being i paid 40.00 for an item at a yard sale, sold the item for 100.00 on ebay which included free shipping for the buyer, ebay took 13.25% of that and shipping was 10.00, so that total 23.25 subtract this from 60.00 and so my net profit for this item was 36.75, just recording eBay’s payouts to your checking account does no good for this when i do monthly ebay payouts, it does not know that you paid 40.00 for this item?
Net profit on each item would be a night mare for you to use QBO for - you can do gross profit but its still a big ask - personally I use a spreadsheet to calculate this
Hi glad your here to help, question been doing ebay now for 9 months, now the government wants to tax everything i want to make sure ive got accounting sorted, I'm part time and work so i have earnings just under the tax threshold so is important to regester and do it right.but because what I'm getting from ebay is small i want to get a handle on this first. i buy from car boots ect so no purchase tickets how do i set up ebay quickbooks to account for this.thanks for your help and look forward to watching the rest of your content.
Hi there! Our new start-up company found your video tutorial very helpful in integrating eBay with QBO. Thank you for that! However, we are facing an issue with PayPal. We have been trying to bring PayPal transactions as sales into QBO, but currently, all PayPal sales are showing up as deposits. We have done extensive research, but we couldn't find any solution to this problem. Could you please make an in-depth video on this topic? We would really appreciate your help. Thank you!
Unfortunately, with SaaS integration QBO Sales tab will be empty, as no Invoice/Sales receipt is generated by the app. Wasn't that the main point of the software - to present to a user with none accounting background the clear vision about their sales? Technically, the Payout should be a one-line transaction, whereas, the Sales details should have been moved into the QBO Sales section.
Question, why does SAAS want you to create an expense account as an income account? When i look at profit and loss i see Income > Ebay Sales and Ebay Fees in a column? Why is that? Income is Income as per Ebay Sales but im also seeing Ebay Fees and it ads those together to make Total Income. Why? Ebay Fees is not income and if i understand this correctly Ebay fees actually comes out of Ebay sales as per Ebay and the way it works but when reporting shouldnt Ebay fees be appearing lower down the report and not at the top with Income?
@@TheQuickBooksChap No mine shows Ebay Fees next line Ebay Sales next line Total Income. Then further down, yes it shows Ebay Charges and that is correct.
If I don't have QuickBooks, what info do I need for my tax return for eBay? As you've mentioned before there are so many things that get downloaded. I find it difficult to work out fees etc
If you want to sync further thank a couple of months the plugin does not allow this. Is there any way around this or is it possible to manually do this?
I have quick books self employed and sell on eBay I have tried this with onesaas. OneSaas had got the transactions but it’s not going into quick books ? I have no bank accounts linked ?
Hi Aaron, thanks for the informative videos! I am new to quickbooks and wanted to ask a question regarding ebay onesaas - So my ebay transactions are now automatically being logged in quickbooks which is great, the money goes into my paypal account and then i transfer money from my paypal account to my starling business account. this then comes up as an income on quickbooks so effectively logging one transaction twice. How do I get round this? should I just click "exclude" on the paypal to starling account transfer? Many thanks !
@@GoodBlokeOutdoors I've removed onesaas and added paypal account to quickbooks as I realised I don't actually have eBay "managed payments" yet. You have to get invited to use it, or so it seems! So now it logs everything that goes into PayPal instead. (For now until I get managed payments anyway- but I think everyone will get invited to it at some stage in 2021). So having managed payments means you lose the PayPal fee BUT I think ebay fee increases.
Your going too bloody fast. How do i create a cost of sales in quickbook, chart of accounts? i dont see the same options as what you are showing. Your showing Expenses > Cost of sales. I dont have cost of sales here. Only Cost of Labor which is not the same. How do i create cost of sales?
@@TheQuickBooksChap Hi Aaron, sorry to bother you with this as i am too stuck, i've looked everywhere on youtube and looked at all the settings in onesaas, cannot see anyway to record any purchases made in ebay to quickbooks as cost of goods sold, no data of purchases is showing up at all in onesaas, any help please would be much much appreciated as i think there are others in the same boat, thank you.