Managed Payments - where is the amount I owe for shipping

[hallscrystal]

I have purchased 3 labels from eBay shipping. Very smooth but no receipt printed with the label (like Snap Ship).

Where do I find out what I owe and when will it be taken out of my bank account?

The labels were purchased:

May 5/21 Total $30.30 but $30.44 was taken out of available funds on May 9/21.

May 9/21 Total $26.96

May 9/21 Total $24.15

Do I have to keep a running total?

[hallscrystal]

Update:

May 12 my available funds are in the negative for the 2 purchased May 9:

$26.96 is now $27.03

$24.15 is now $24.21

for a total of -$51.24

and it will be taken out of my bank account - or I can pay now.

It seems to take 2 business days to process the charge/s and it will now take a couple of days to come out of the bank.

Will update.

Why the difference of a few cents on each?

Where can I find the actual shipping purchase info?

I did a screen shot of the label for the latest 2 but it does not show the amount for shipping.

[intimewithmusic · Accepted solution]

Yep, eBay needs to rename "all Transactions" to "Some Transactions"

Welcome to the accounting nightmare! Yes, sometimes the actual label cost is a few cents different whenj I finally get the statement too.  The digital paperwork eBay sends out is terrible. Why not one monthly invoice showing gross income and a grouped breakdown of all charges? IE; gross sales, Labels, Fees, Store subscription, etc with the GST please . Istead we're getting "Tax Invoices, Statements, Invoices yada yada yada...

Finally I got their system to work this way: 

1. All gross income including sales and freight goes into a revenue account called "Adyen". eBay calls it "Available Funds". I put everything in there.

2. Manage the expenses as you want but I'm an old school bookeeper 25 years running retail stores. I manage them immediately. I tried deciphering eBay's "digital digit diarhea" after getting the flurry of invoice-statement-tax notice thingys but I never balanced. 

   As you say eBay says $16.98 when you buy the label.  Then they send you an email that says $16.98 estimated because you might not have weighed the item correctly.  3 weeks later they charge $17.03.

   They always seem to have surpirse expenses that are very hard to allocate a month down the road. For example I had funds available as always for my store subscription. A month later they charged me a 32 cent late fee. They even went into my bank and made a withdawal instead of taking it out of "available funds"...

3. Finally balance the "Available Funds" with your bank account. 

It's not possible to balance eBay in real time..  That said balancing "Available Funds" with the "All Transactions" report is the closest you will get. Doing that will leave the unexplained accounting discrepan cies they leave on those multiple monthly "thingys" exposed for reconciliation. 

Please eBay! Send ONE CANADIAN Invoice monthly with everything on it including TAX and please tell us how much the label really costs and put it in "All Transactions" or maybe call it "Some Transactions"...

I feel much better. Thank you. I'm going to have a hot dog with everything on it. It's not the same getting the onions at the end of the month....

[hallscrystal]

Thank you!

I logged in to Shippo thinking I could print a receipt from there but evidently I haven't used Shippo since 2017 even though these 3 labels were purchased through eBay for eBay orders in May of 2021.

I agree, a clear and concise monthly invoice is necessary.

I am going back to Snap Ship, eBay shipping is convenient but outweighed by the frustration of paying for it. It is like going in to Safeway for groceries and when you leave they say "we'll be taking around $25.00 out of your account in about 5 days - don't forget to write that down when you get to your car".

Appreciate the tips about bookkeeping - I have to keep up with it - my bank balance is only ever enough to cover expenses so it has to be accurate.

And now I want a hot dog.

[intimewithmusic]

Hi! Re your question about the "actual shipping purchase info"....

I think you should ask your question to Tyler. He answers eBay related questions here every Wednesday. they have to be submitted on Tuesdays. 

I bought a label to Switzerland on May 12. The eBay email declared the cost to be $34.59. 

The label showed up May 14 (2 days later) in "PAYOUTS/All Transactions".  The cost was $34.67. It does not give you a breakdown taxes paid IE: GST although it's not applicable to international labels.  To get the exact breakdown you have to drill down using "Transaction Details" to the left of the All Transactions entry.

Your complete total of all the labels purchased in a month will show up on your monthly "Financial Statement".  It doesn't show taxes paid or even give you the costs of the individual labels.  It only shows the total labels purchased for the month taxes in.

The other  place to see your total labels purchased for the month is on your "Tax Invoice" not to be confused with your "Invoice".  It's a seperate document. Once again it only shows your total labels purchased and the total tax you paid.

This is a real problem for businesses with GST numbers who sell both domestic and international. To claim back the Input Tax Credit you have to be able to allocate the GST you paid for a specific service.  Lets say your total labels purchased for the month was $500. The domestic portion was $100. Your ITC claimed would be $5 on the domestic. If you want to claim ITCs you have to cut the domestic labels out of the herd manually.

The only way I can see you can do that is record your sales one at a time in real time just like any brick and mortar retail store and 2 days later make an adjustment. The problem then becomes these petty adjustments you have mentioned.   You can also wait until they show up in "All Transactions" before you post the sale. 

If you want to avoid the issue you can get instant accuracy from all the other label sources PayPal, Shippo and Snap Ship. 

There's a huge potential in Canada for a Canadian version of Shippo or Pirate Ship with the explosion of online shopping. If eBay doesn't provide a better system someone else will. It would be ironic if it Amazon did this and then got a piece of every eBay sale but it would make sense.  They already have TV, Movie and Music networks and the entire Canadain courier system at beck and call. Would it really surprise anyone if they set up a shipping brokerage like Shippo and sold labels to eBay Sellers? 

In the meantime, if you stick with eBay labels, your best bet is to think of "Available Funds" as your "Bank Of Ebay" balance. In my software every penney Adyen collects goes in that account in real time. Then enter your debits and credits from "All Transactions" and use the regular "Invoice" (not the "Tax Invoice" for the eBay Store monthly administration fees. Many eBay Sellers who prefer to enter one lump sum will dissagree with that and use the Tax Invoice once a month.  That leaves the door open to absorbing posting errors and causes problems ITC claimants. 

Like I said, I'm old school 2nd generation book keeper. For me there's no such thing as a "Lump Sum" ;>}

ITWM

[intimewithmusic]

UPDATE RE "ALL TRANSACTIONS"

I thought to check my findings reported. I have two corrections to the All Transactions page. 

The good news...

1. You CAN print a list of individual shipping labels for any period going back 90 days.  Here is the path : PAYMENTS/ALL TRANSACTIONS Note the 4 Filters at the top. Open the one that says "ALL TYPES" (second to the right) Select "SHIPPING LABEL" Then configure the time period you want with the next filter. 

The bad news

2. Drilling down through "Transaction Details" gets you to a screen with the label price and it has a Tax column.  Unfortunatley the tax column is non functional. The tax we pay on domestic labels does not show. Shippo used to provide us with the Canada Post reciept for each label showing the GST/HST. Ebay does not.  You will have to divided by 1.05 to get the net before GST if you want to keep books in real time.  This will undoubtedly lead to yet another adjustment to the monthly "Tax Invoice".

I haven't kept up with GST laws. Thngs may have changed. When it came into effect in the 80s it was unlawful for a business in Canada not to show GST on each sale along with the business GST tax number. That's possibly why Shippo included a copy of the CP Invoice with every label.