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eBay Financial Reconciliation with Bookkeep

Bookkeep enables you to integrate your eBay account(s) to automate your eBay accounting. Here was discuss how to reconcile your bank deposits from eBay to the sales recorded. 

The two journal entry postings Bookkeep automates with eBay are:

  1. Sales Summary - captures completed orders as well as associated order marketplace fees on a daily basis per currency.
  2. Deposit - captures any bank withdrawals/deposits as well as any expenses such as shipping label purchases, dispute holds/reversals, ad fees, and loan repayments.

Sales Summary

The Sales Summary journal entry posts to your accounting platform the sales from the prior day. This aims to capture the gross sales down to the net sales including discounts, refunds, etc. Additionally, this journal entry captures the various fees from eBay tied to a specific order. This are commonly referred to as marketplace fees.

Sales Summary journal entry

As you can see from the example above, the gross sales was 54.99, but the eBay balance sits at 45.47 for this day. From a reconciliation perspective, you would be checking that the 45.47 balance was transferred to your bank account. This would give you confidence that you received all expected income from your 9/11/23 sales. This is where the eBay deposit journal entry comes in.

Deposit

The deposit journal entry captures any withdrawals and deposits with your bank account. This journal entry also captures any fees not specific to a single order such as ad fees. Shipping label purchases are also captured in addition to any dispute holds and reversals.

Deposit journal entry

In the example bank deposit above from eBay, you will see the gray line indicating all of the impacts to the eBay balance for a single deposit. In this case, the deposit only consisted of 45.47 from sales on 9/11/23. This aligns perfectly with the eBay sales journal entry image above where the Payments balance line was 45.47.

Deposit journal entry payments balance line

This gives confidence that all sales from 9/11/23 were paid out to the bank account on 9/13/23. This is how Bookkeep can help you streamline your eBay financial reconciliation by seeing what each deposit consists of to ensure you receive the income you are expecting from eBay.

If you have any questions regarding our eBay accounting automation, feel free to reach out to [email protected].