Xero software and VAT on ebay sales

Do any fellow sellers use Xero?

 

I’ve signed up for a trial as I’m now VAT registered so hoping it will make things easier.

 

my issue is that on the reconciliation the amount Xero is using for my eBay earnings is what get transferred into my bank account - so after fees. As I understand it I should be paying VAT on the sales value before fees.

 

i can’t get my head around how to account for the additional amounts - or do I just ignore that income on my reconciliation and enter the figures manually?

 

Any help / advice / experience appreciated!

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Xero software and VAT on ebay sales

Check out link my books-sits between xero and ebay and does the hard for you

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Xero software and VAT on ebay sales

It can get very confusing accounting for the VAT with refunds and non-UK sales and of course the reclaiming the VAT on the eBay fees.

 

I use "Link my Books" to do this for me.

 

This links eBay (and other marketplaces) with Xero and does all your bookkeeping and VAT calculations for you. Simple to set up and then it runs on autopilot.  Very reasonable price and I for one would not go back to trying to work it out manually or to pay for my accounts time to work it out for me. 

 

 

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Xero software and VAT on ebay sales

Thank you so much for your replies, i'll look into it!

 

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