eBay Accounting

[Killed by Ebay]

How do you guys handle returns on your spreadsheets?


Im making my own spreadsheet, just unsure on how to handle returns/refunds.

[tmastermind]

When you say spreadsheets I'm assuming you mean "business accounts" or "accounting".

Mines done sort of for me as any income or outcome which is recorded by PayPal is imported into my accounts system I just have to mark which entry is what I.e an eBay sale or eBay refund. I then have a separate import from my business current account for day to day business spend stationary fuel etc etc. Then when its all done the accounts system does everything else for me including my tax return and VAT.

Gotta love accounts software, it does make it far easier.

I have multiple sheets open in an excel file. One of my sheets is returns. I have one column for return amount and the other columns keep track of dates, names etc. Under my sales sheet I have Sales minus Returns and for the Returns entry I have =sum(return sheet1-100).

[Killed by Ebay]

What do you guys do with inventory and Cost of goods sold associated with it? I use the accrual based method.

[rsot]

I used the accrual method as well, right down to accounts receivable...kind of old school with ledger