Ebay transactions

Poodle

Hi

I am working on the accounts of a customer that has an Ebay shop.

On his Pay Pal record he has some payments called 'Web Accept Payment sent' and 'Pre approved payment sent' and I do not know what these are. I think that they may have something to do with the way that Paypal processes sales receipts and are not actual business expense items.

The reason why I think this is that when I take the total sales receipts in the paypal account and then take off the total of these payments it comes out to (£21 diffrence) almost the same total as the sales summary report produced by ebay for the same period and it is the sales summary that I will use as total turnover in the accounts, I just need to prove it from the receipts. The £21 may only be a timing difference.

Could some one please confirm f I am ight or not with this.

Thank you

Poodle

monkeypuzzle47

could it be that the 21 difference may be the paypal charges deducted!

sheelagh

Paypal

I have several clients who collect customer payments via paypal.
My immediate reaction is that these transactions are payments for items which your client has purchased, or they could be sales refunds.

Web accept payment sent is almost certainly a payment your client has sent.

Pre-approved payment sent - it's possible that this one is duplicated somewhere else in the statement, so I would check to see if you have any items included in your calculations which do not affect the account balance.

One further thought - is all the income definitely from ebay sales?

Poodle

Hi

Thankyou both for your help.

All sales are through Ebay and so I know the target sales figure is the ebay sales report.

I have already given this client a long list of questions to get back to me on and so I will now add these deductions having had your feedback, I just did not want to appear stupid:001_smile:

Many thanks

Poodle