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how you guys manage your ebay accounting
 

How you guys calculate the profit of your ebay accounts ? Any good accounting software of excel sample spreadsheet, would appreciate if someone could share around :)

Thanks in advance

Re: how you guys manage your ebay accounting
 

my method is quite complicated, but it uses excel spreadsheets

I like to keep a tracked "net worth" of myself - which includes tracking each accounts paypal balances, ebay fee balances, transferring balances, bank balances, cash, and my inventory.

I was tracking all this info and logging my "net worth" once a week, and also tracked expenses. I would made little goals for myself and that really helped me push my drive to increase my net worth higher

but doing so in my way, my cash-to-inventory was followed pretty closely without me having to individually log every items profit margin. I enjoyed it better.

Im currently not worrying about tracking it too much, but I'm also not selling a lot and working on building more accounts. When I get into it again heavy, you know ill be tracking and working hard to increase my goals.

good luck

Re: how you guys manage your ebay accounting
 

I use mint.com to grab all of my transactions through multiple accounts. You can categorize transactions, and export them to csv. I haven't had any problems with stealth yet.

Re: how you guys manage your ebay accounting
 

I Use teapplix, it also has quickbooks integrated in it as well. All you need is a internet browser

Re: how you guys manage your ebay accounting
 

I use Quickbooks and record them as sales receipts. Put undeposited funds and then deposit multiple when you make a deposit

Re: how you guys manage your ebay accounting
 

Quickbooks is an extremely popular software.

Cheaply, you can use excel spreadsheet

Re: how you guys manage your ebay accounting
 

I always use quickbooks because I can note everything (involce, transactions, track sale, etc...) and it's safer, i don't worry about my computer anymore

Re: how you guys manage your ebay accounting
 

How is it safer exactly Mrjame?

Re: how you guys manage your ebay accounting
 

Tell us more...

What's your computer got to do with this?

:juggle:

Re: how you guys manage your ebay accounting
 

Maybe ... just maybe ... hes trying to say that the info is safer? For the reasoning that quickbooks you can password protect it... but then again, you can password protect excel files too. i dont get it either :noidea:

Re: how you guys manage your ebay accounting
 

Maybe because quickbooks is on line and you can access from any computer, don't have to worry about computer crashing and losing the info, it is what I use.

Re: how you guys manage your ebay accounting
 

Xero is quit convenient as it can auto link to your PP account to grab all transactions

Re: how you guys manage your ebay accounting
 

Do you know any software that can import paypal transactions from any period of time?

Re: how you guys manage your ebay accounting
 

What are you trying to do? Account sheet?

Re: how you guys manage your ebay accounting
 

End aim of the exercise?

:spy:

Re: how you guys manage your ebay accounting
 

Does anyone use Wave Bookkeeping? Feedback?

Re: how you guys manage your ebay accounting
 

Coming from someone who has worked in accounting and majoring in it, I would have to say use a dual approach. Quickbooks is hands down the cleanest and easy way of doing broad accounting. You can tweak personal and business expenses, then categorize to your accounts in the books. But one thing I always recommend is to use excel or numbers in Mac. I usually set up a spreadsheet like the following in the title bar so it becomes an "equation" of sorts. Bulk Sale - ebay fee - paypal fee - shipping material - shipping cost - product cost = net profit/loss. Now this equation becomes a headache when you make the buyer pay for shipping because ebay also pulls 10 percent from that as well. So your cost would not add up properly. If you dont do free shipping add in another shipping fee into the equation. Then you simply highlight it and hit sum and bam! you are good to go. Good thing about spreadsheets while still archaic, they can quickly tell you averages if you highlight a range to adjust your sales goals. Hope this helps.