Accounting Software

[trufitcarpets]

Hi all.. wondering if there were any recommendations or suggestions for ebay 'compatible' accounting software?

Any thoughts welcome 🙂

Thanks kindly

[davewil1964]

MYOB or Quicken, I believe. Anything that can import CSV files should work.

I use a spreadsheet and one day will build myself a proper database.

[phorum_junkie*]

I too just use a spreadsheet, never needed anything else but the two recomended programs are the most popular.

[jensmanchester-australia]

The easiest and most suitable one for ebay sales I have found is Xero which is an online accounting program.

I have used Myob and Quickbooks but changed to Xero a couple of years ago and it is the best thing I ever did.

The biggest advantage I have found is that all transactions are automatically downloaded into Xero from Paypal and your bank account and it takes me less than 5 minutes a day to reconcile the transactions. It also downloads the Paypal fees as a separate expense which means you don't have to enter them manually.

The package I use costs me $49.00 a month but it has saved me hours and hours of time so it is worth every cent.

[phorum_junkie*]

Lol Jens many sellers are complaining that a fee increase of $25 a month is going to put them out of business so they must have faited dead away at the thought of paying fifty bucks a month to streamline their accounting :^O

[trufitcarpets]

Fantastic, thank you for your suggestions 🙂

Will look into it further, however Xero sounds promising

[kids_parties_aus]

Can I ask - what do you do about keeping track of your stock / inventory then and how to do you process each sale?  Ive been using a desktop accounting packagin, but Im thinking of moving to cloud based due to its integration etc, but I have inventory that we track within the accounting package - just wondering how Id do that / record sales if its not there?

[dearsystems]

You may check dearsystems.com. This is cloud based inventory software and it has two ways communication with ebay. You can publish you stock from the software and every sale on ebay is reflected automatically in software reducing quantities of the stock . Also this software has a link to XERO accounting system. No need for double handling. All sales orders from ebay can be consolidated on dayly basis or stored individually in the system.

[time*worn*style]

dearsystems looks interesting but is still at Beta stage I see.

am wondering if it would be suitable for an antique / second hand goods business???

I am having a lot of trouble finding an inventory system specifically for this area 

Items are often bought without invoices etc and from all over the place so quite different from a business buying from wholesalers.

[wishuponastarcelebrationsandgifts]

I use MYOB and it has inventory management (not all versions do). As I also have a website and a consulting business I find this the easiest and cheapest to use as I have created separate files for the businesses.

I agree with Jen that if you are looking for something to save time Xero is probably a good option.

As for record keeping you must keep proper records for all stock you buy. The tax office don't care what your accounting records say as anyone can claim they paid $200 for an item and sold it for $220 making a $20 profit. They need the proof that you actually paid $200 for the said item. If you have no proof they can assume you got it for nothing and sold it for $220. When audits are conducted they will trace transactions back to your source documents eg. invoices, bank statements etc.