posted on October 27, 2000 04:51:58 AM new
Hi - Just wondering how you handle your tax recording keeping for half.com sales. It just occured to me that I've been recording my payments in my sales column and my postage in my debits, but I haven't accounted for the fees half.com charges me.
Here's my question: if I record the fees as a debit, should I be recording as sales my actual sale price, not the payments half.com sends?
posted on October 27, 2000 05:09:02 AM new
You can either consider Half.com as the customer, and only post the net revenue (after commission) or post the total sale amount and deduct their fee as a sales commission paid.
We post the total gross sale, then post all fees (such as Half.com, Ebay, PayPal) as expenses. It is nice to be able to review this throughout the year, especially the Ebay Fees in relation to the Ebay Sales.
We also post our sales separately by each auction site or website that they are sold from so we can track this as well. This gives us great insight into sales trends on various venues.
