Ebay Financial Statements and Tax Invoices

[ctebay]

I’m hoping someone may be able to provide guidance on Ebay’s Financial Statements and Tax Invoice.   On the Financial Statement, I don’t see a total (gross) order value.  There is a Total minus fees line item.  But then, it is not clear what is considered fees for this line item since there is also an other fees line item and a shipping label line item.  The Tax invoice breaks out fees (including final value fees which I suspect is part of the total minus fees line item) but it is not clear which feees from the Tax invoice are included in the “Total minus Fees” and which are in the “Other fees”.  The fee labeled “Shipping fee” in the Tax Invoice matches the line item labeled “Shipping Labels” in the Financial Statement so these should be the same thing.  I’ve tried adding fees together that are on the Tax Invoice, but no combination matches the “Other Fees” in the Financial Statement

I appreciate any help in figuring this out!  Thank you.

[Jay]

I believe we’ve all had this discussion and come to the conclusion that those numbers don’t add up across eBay’s statements. Frustrating but just a reality. Someone else may have better answer.

I’d start with the 1099 that eBay sent you (and will send to the IRS).. Then just start deducting all the things you can document that you spent on the business (final value fees, shipping, COGS, etc). What’s more important is that you have a system to show how you found your numbers.

If you expect eBay to do all those numbers for you, you’ll be very sad 🙁

[ctebay]

Thank you for your reply.  At least it is nice to know that I’m not the only one finding that numbers don’t match across eBay’s statements!

[ChristineR]

Did we all decide that start with the 1099 and look to the monthly statements to find all of the refunds to deduct?  Then do not deduct sales tax collected by Ebay from the 1099 number?  Thanks all.

[Castle Rock Emporium]

I found it very frustrating that eBay shows Sales Tax collected by eBay on an order, but doesn’t show that the Sales Tax is “deducted” from the Payouts. When I am entering a Sales Receipt in Quickbooks, I do not include the Sales Tax the customer paid.

For over 30 years in our other gig (independent sales reps) the 1099’s I got never matched my records. Someone would cut me a commission check on 12/28/20 so it would be on their 1099 but didn’t show up in my mail until after the first of the year, so I had it as 2021 income. I ignore the 1099’s and use my numbers I have kept track of over the course of the year.

Jay is right, the more important thing is a good system of how you keep track of your numbers.  Just total your payouts as income since it is net the fees.

[Ryanne]

Hear hear! I also found this frustrating, like send me a 1099 of what you paid out to me with all the expenses you took out, not everything that came in, gross. I’m pretty sure Amazon does it the way we’d prefer right?

[Retro Treasures WV]

What I typically do with my 1099 from ebay.

Open pdf document.

Read numbers

Say “that’s nice”

Toss aside document and continue on with my known good numbers.

[Ryanne]

Same! But you do have to hand that 1099 to your accountant/IRS, so I do reconcile and make sure that looks correct-ish/in the right ballpark.

[Castle Rock Emporium]

My accountant never even sees my 1099’s 😂 My own numbers are far more accurate.

[Author]

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