eBay send sellers a monthly VAT invoice for their total eBay fees for that month.
They used to take payment fro this entire invoice from your connected card or PayPal account.
For sellers who have migrated to eBay Managed Payments they now take payment for most of their fees directly from your payouts before they send you the funds.
However they do still bill some fees directly to your payment method on file.
Which fees does Link My Books account for?
Link My Books accounts for all the fees that eBay have deducted from your eBay Managed Payments Payouts.
On your monthly eBay invoice you will notice that they have a little ✅ (tick) mark beside the ones that have already been deducted from your eBay Managed Payments payouts and therefore that have been accounted for by us.
The remaining fees need to be accounted for separately inside Xero or QuickBooks by entering them as a bill.
eBay show the total fees billed directly in a bold red figure to make this easy but make sure you check the VAT rate for each of the fees at the bottom of the invoice as some "Postage labels" can be Zero rated where as most other eBay fees are 20% VAT on Expenses.
I'm still confused?
Not to worry, download your eBay fees invoice and send it to us and we will help you figure it out.
Send it via a conversation to us via the blue chat widget down and to the right.