Keeping track of money for shipping -- both money collected and money spent -- has long tormented many eBay sellers. With the ability to see your eBay and PayPal data together in GoDaddy Bookkeeping, that's no longer the case.
Once you link your PayPal account you'll notice a new category on your Expenses tab "Shipping Costs". This category is created by PayPal, and it contains whatever amounts you've actually spent shipping items to your customers.
The day you link your PayPal account to GoDaddy Bookkeeping is the day you'll start seeing new items being added for Shipping Costs. PayPal will NOT go back in time and import historical data related to your Shipping Income and Shipping Expense.
To make sure that all your Shipping Costs are getting categorized the same, you might want to merge your "old" shipping expense category into this new category.
Here is how to merge the old into the new:
1. Go to >> Manage >> Expense Categories
2. Find the old category called whatever you've named it: maybe "Shipping Expense" or "Postage" or "Shipping & Handling"
3. Select the icon that represents "Merge into another category" as shown below.
4. Merge the category into "Shipping Costs" from the dropdown list. Check the box to the left of the message saying "I am sure I want to merge," and then click "Merge."
After the merge, all past Shipping Expenses will now be categorized as "Shipping Costs" in order to give you a more complete picture of how much you're spending to ship the items you sell.
NOTE: Please be careful to not merge income and expense categories as this will cause your net profit to be misrepresented and in some cases could keep your account from updating properly.