Where do I find my yearly total paid to PayPal for tax purposes?

[vintagenorth]

I need to find my total amount of PayPal fees for 2014. I have found the amounts paid for each sale under "details" but do I have to add up all those amounts item by item or is there a summary of my fees somewhere in PayPal?

I'm pretty sure I found a summary last year but now they have changed the pages around and I can't find anything again. I have two stores so it's very time consuming. Thanks, any help appreciated!

[triber]

vintagenorth: Its under selling manager pro

[vintagenorth]

Hi triber, thanks but I don't have selling manager pro, just selling manager, I just have basic stores.

Any other ideas?

[femmefan1946]

Sign up for Selling Manager Pro.

It's free.

[pjcdn2005]

Selling manager is free if you have a basic store (or even if you don't have a store) but there is a charge for the pro version.

[pocomocomputing]

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@femmefan1946 wrote:

Sign up for Selling Manager Pro.

It's free.

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To clarify, here is the eBay.ca Canada Seller information page on Selling Manager Pro.

http://pages.ebay.ca/sellerinformation/sellingresources/sellingmanagerpro.html

Selling Manager Pro is an online selling tool to help you create listings, manage post-sale activities and manage your inventory. A great option for high volume sellers who want a robust, web-based eBay tool. Only C$15.99 per month or FREE for Premium and Anchored Store subscribers.

Since vintagenorth states they have a basic store, SM Pro is not free for them.

[recped]

Click on the "statements" link (top right) from the search page. Download to a csv file and open in Excel or similar spread sheet.

[pierrelebel]

"I need to find my total amount of PayPal fees"

The real question is why?

For accounting and tax purposes, it is quite acceptable to use the net amount credited to your account by PayPal (net of fees) to add your revenues.  I have been audited twice and CRA has accepted this method of reporting.

For example, if your sale is $100 and the shipping charge is $20, the total amount of the transaction was $120.00.  You received $116.22 from PayPal (after fees) and using $116.22 as revenue is easy and acceptable.

KISS

[recped]

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@pierrelebel wrote:

"I need to find my total amount of PayPal fees"

The real question is why?

For accounting and tax purposes, it is quite acceptable to use the net amount credited to your account by PayPal (net of fees) to add your revenues.  I have been audited twice and CRA has accepted this method of reporting.

For example, if your sale is $100 and the shipping charge is $20, the total amount of the transaction was $120.00.  You received $116.22 from PayPal (after fees) and using $116.22 as revenue is easy and acceptable.

KISS

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That works fine if you use the cash method of accounting. If you use accrual then you do need both the Gross and the Net.

I work on a cash basis so for me the Net number is sufficient.

Generally Cash Accounting is sufficient for most eBay sellers but for sellers with other business activities they may need to use the accrual method. Whichever method you use it's best to be consistent in all your activities.

[bookelph · Accepted solution]

Try this link:

https://business.paypal.com/webapps/merchantreportingweb/page/reportsHome.form

The Monthly Financial Summary Report will give you monthly fees

[vintagenorth]

Thank you bookelph! That is the exact page I was looking for!