It doesn't seem like these things would all go in the same place. The Ebay fees seem like a part of Cost of Goods Sold, and the merchant fees seem like they would be an expense. Is this correct?
It depends. If the fees you paid relate to the components of a product you create and sell, then Cost of Goods Sold may apply. But in general, merchant fees are a cost of doing business. In other words, miscellaneous business expenses. Where you enter a general business expense doesn't affect your net income as long as you don't enter the same expense twice.
It depends. If the fees you paid relate to the components of a product you create and sell, then Cost of Goods Sold may apply. But in general, merchant fees are a cost of doing business. In other words, miscellaneous business expenses. Where you enter a general business expense doesn't affect your net income as long as you don't enter the same expense twice.