Occasionally eBay may withdraw some funds from a seller's bank account to cover the costs of refunds or extra charges that are going to be deducted from your next eBay payout.
These deductions will be picked up in your A2X payout data and display the amount eBay withdrew from the bank. The total of the A2X entry will still match to the deposit they paid into the bank account.
In this example A2X will generate a QuickBooks Journal (or Xero invoice) that matches to the deposit received of £98.60. However it contains the withdrawal from the bank account of £181.83:
A2X has by default coded it to a current liability account called eBay Withdrawals with no VAT. You can find this in your A2X account by going to Accounts and Taxes > Current Asset:
Next we need to head over to the accounting software and record the offsetting expense from the bank account.
The deposit received will match to the A2X entry as usual:
QuickBooks
Xero
However, the expense paid out needs to be coded to the same liability account eBay Withdrawals with no VAT. In this instance, which is a common occurrence, eBay didn’t take the whole amount in one go but took two separate payments.
Hint: Set up a bank rule to do this automatically for you each time.
QuickBooks
Xero
The result is that the eBay withdrawals account balances out because the entries offset each other.
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