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Starting to receive PayPal payments which include out of state tax collected by eBay for other states (Texas). This is messing up QB reconciliation process as totals do not match net transaction. Ebay stated these taxes collected would be kept by eBay and paid by eBay to the state in question. Is PayPal charging a % on the tax received and how is it being returned to the state in which it is due?
OK, I Checked the transaction and was charged 3.66% PayPal transaction fee, then they backed out the sales tax to net out the transaction.
net sale 54.00
Texas tax 3.78 now I have to add this to QB then somewhere back it out to PayPal
subtotal 57.78 reported to QB
Paypal fee 1.98
eBay tax 3.78
Net paid 52.02
I am having the same problem and I imagine all the Ebay sellers are.
Last night I had a sale on Ebay for:
Sale Tax (Ebay Collected): $.92
Then on Paypal: