Some eBay sellers might make purchases on eBay using their seller balance. In this article we'll outline how Link My books handles those and the actions you need to take to reconcile them.
How does Link My books account for purchases made with eBay seller balance?
Link My Books allocates all purchases paid via a seller balance to the eBay Purchases account, which by default is LMB49: eBay Purchases and is a current liability type account.
How should I reconcile these purchases?
Each time you make a purchase using your eBay balance you should create an entry in your accounting system to account for that purchase.
However this won't be a normal bill with an amount to pay, you'll need to net off the bill to the eBay Purchases account like this:
On line 1 we enter the purchase amount as a negative amount and allocate it to the eBay Purchases account.
On line 2 we enter the purchase amount as a positive amount and allocate it to the account the purchase relates to. In our example here we bought some inventory, so we choose the inventory account.
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