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I used GoDaddy Bookkeeping, and have been nervous about what will happen when I get enrolled in managed payments in July – will it be supported? If it’s not, one fallback is to simply hook my bank account into GoDaddy, but it turns out my current bank account doesn’t work with GoDaddy. I would have to open up some sort of fancy “Business” account at my small regional bank in order for it to work. Or open an account at a bigger bank like Wells Fargo and keep a minimum daily balance of $1500.
So today I was very happy to find this encouraging sign that Managed Payments will be (and perhaps already is) supported by GoDaddy:
https://help.bookkeeping.godaddy.com/hc/en-us/articles/223813247–Linked-accounts-Who-What-How-much-Right under Amazon it lists what info is being pulled from ebay Managed Payments.
Of course, it would still be preferable to have confirmation from someone who is actually already using GoDaddy and Managed Payments – If there’s anybody reading this in that category – please chime in with your experience.
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Here is a really good Youtube video from an eBay seller who has been using eBay managed payments and Godaddy Bookkeeping. Seems to be working for him so far.
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The video doesn’t actually have any of the “how to” information that I was looking for. Here’s what I’ve figured out so far myself since getting Managed Payments activated about a week ago (including some unanswered questions):
1) You have to actually do something in your GoDaddy setup in order for the MP transactions to come through. After seeing no new transactions for a few days after starting MP, I went in and added ebay again in the “Manage” section. That did the trick. I did not delete the ebay connection I already had, b/c it said that it would delete all of my previous transactions, and while I could live without transactions from previous years, I need all of my transactions from 2020. Not sure if it is the right thing or not to leave it this way with 2 ebay connections, but I guess I’ll find out soon enough.
2) Major annoyance to me: the Sales transactions no longer include the name/title of the item that was sold, so it’s difficult to tell which sale is which. This is what I’m seeing:
I don’t really see the need to break out shipping and handling separately, but whatever.
3) Not sure what’s going on with sales tax. In the screenshot above, the sales tax line item is zero – I checked the transaction on ebay, and indeed no sales tax was collected on this transaction. Cool. But none of the other MP transactions have a sales tax line item, and some of them *did* have sales tax collected by ebay, so I’m confused and wondering where I’m going to get the sales tax total at the end of the year to be able to subtract from the ebay 1099 which last year included sales tax.
4) I am going to have to get a new bank account at a large bank b/c my small rural local bank does not accept connections from GDBK except for business accounts, but they won’t let me open a business account without a DBA certificate, which it doesn’t really make sense to get for a sole proprietorship business. But I can’t open the account online b/c my mailing address is a PO Box (USPS doesn’t delivery to my house) – have to drive an hour away to go in person to the nearest Wells Fargo. Hopefully GDBK works with personal WF checking accounts – anybody out there have Wells Fargo and GDBK?
I will update this thread if I figure out answers to any of my questions.
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The sales transactions missing the title is a BIG deal!
That’s how I cross reference my COGS since ebay won’t allow us to download a years worth of data (which is inexcusable).
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Retro – I recommend you submit a support request so that GDBK knows that more people see this as an issue. I submitted this yesterday but have not heard back yet.
https://help.bookkeeping.godaddy.com/hc/en-us
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Update from Donald of GDBK re: the FVFs, and it’s not great news.
Recently (July 21, 2020), eBay has made a change to the way they account for your eBay fees. Rather than receiving a lump-sum payment for your fees, eBay Managed Payments is now deducting these fees directly from the transaction.
Due to these changes, we are no longer receiving these fees through eBay’s API. We are in talks with eBay to see if this can/will be reverted to how we were sent data previously, or if they are going to start including these fees through their API so we may download them.
We don’t, however, have an ETA on if/when this will occur. Our apologies as we understand that having all of your fees is crucial to proper bookkeeping.
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Funny to think that eBay has been bothering us for months about getting ready for MP, yet they failed at reaching out and working with their partners to make sure crucial bookkeeping information was passed down via the API.
I’d love to believe MP is a positive move for all of us, but stuff like this just suggests it was a self-serving move by eBay and nothing more. Delayed access to funds, lack of FVF in the API, having to open up a new bank account – what’s not to love?
Can’t wait until 2040 when eBay splits off MP into its own company and has to start this process over again.
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One more issue surfaced today in my first GSP sale since getting onto Managed Payments.
These are the 4 income line items that came up for this one transaction:
Not only should Import Charges and Shipping Intermediation Fee absolutely NOT be reported as my income since I never even see this money, but the Shipping Charges line item includes both the shipping money I get ($7.96 in this case) AND the shipping money that I never see, b/c it goes to ebay/GSP/Pitney Bowes.
Anybody else experiencing this issue?
I have filed a case with GDBK, and encourage others to do so as well. As soon as I can get up the motivation, I’m also going to forward a list of all of these issues to the ebay for business facebook folks, b/c this is mostly ebay’s fault for sending over this information erroneously. I’m betting GDBK can fix all this very quickly once they are getting the right data.
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Sonia, I have the same issue with GSP. I think I’m going to have to drop GDBK until these issues are ironed out and do it manually. Can’t really trust any of the information at the moment. Also, I had to cancel a GSP order and in GDBK the shipping and import charges are not showing up as refunded. It’s a big mess.
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Maybe I don’t understand.
But why not just make the shipping income an income item, and the shipping charges an expense item in GDBK? Then it all washes out in the end. Does it matter that you never actually received the money into your account?
That’s what I do now anyway.
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Totally agree if you have to manually edit them.
However you can train GDBK to do it automatically in many cases. That’s what I was able to do, but I’m not on MP yet but I get orders from another online site that has a similar issue. I get dozens of orders a week and don’t have to edit them. If that doesn’t work, then yea I don’t think I would use GDBK either.
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I see what you are saying, however, the issue is that we are getting extra income on shipping by them adding the import charges and the GSP shipping. As we only print shipping label for the US to Kentucky the charge is not accounted for on GDBK. Not sure if I am explaining it correctly, but there is no way to have GDBK trained to have it done automatically as there is no accompanying shipping charge to balance the shipping income. As it stands, the only way to do it is manually for each GSP order.
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Ugh…what a mess. I also had to create a second ebay link to bring in new data.
The GSP international shipping costs is a major issue. Pitney Bowes is also listed as the customer for the original sale as well.
The ebay item title on sales and fees needs to be rectified.
I’ve reported all the issues I see to godaddy.
How disappointing… they’ve had MONTHS to work the bugs out and it appears they did nothing at all this whole time.
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I heard from them that ebay changed things up with the APIs recently – which caused at least some of the problems. If you watch the video posted earlier in this thread by a GDBK user that has been on MP for a while, according to him, everything works perfectly! Anyway, I’m glad you reported the issues as well, Retro – the more people reporting in the better.
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