Ebay and Bookeeping
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on โ04-04-2022 11:44 AM
Hi all,
Is anyone able to tell me what information they use to enter into their accounting software? I'm finding the clear information incredibly confusion/frustrating. If I look at the financial statement it doesn't show me the sales for the month unless I add every line up! Which I have unfortunately done, when adding up all the sales and fees from the financial statement, 1. the fees do not match the tax invoice, 2. the sales do not match the performance report. I find nothing clearly matches and it's driving me insane.
All I want to enter is my sales for the month including any cancellations/refunds etc plus my invoice for the fees.
Can anyone help or advise what reports you use?
Re: Ebay and Bookeeping
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on โ04-04-2022 06:40 PM
My accounting software is a spreadsheet. Manually updated. I don't sell at your levels - maybe 4 per day - but it works for me.
Re: Ebay and Bookeeping
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on โ05-04-2022 09:57 AM
Years ago the ATO introduced ' eRecord ' - a very simple bookeeping program - which they replaced with :
ABN CASHBOOK is a basic user-friendly program to record all of your business income and expenses whether you are GST registered or not. It is a great replacement for e-record, spreadsheets and manual records and assists in complying with ATO requirements.
Probably a download from the ATO site - not sure.
Re: Ebay and Bookeeping
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on โ05-04-2022 03:58 PM
Just download a sales report for previous month in CSV format and you will have all sales, fees and everything in the file
Re: Ebay and Bookeeping
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on โ05-04-2022 04:12 PM
Step 1 - speak to your accountant. Seriously. Don't take financial advice from randoms on the internet.
Step 2 - here's my advice ๐
I use weekly payouts from Ebay which are paid to my company bank account. That is connected to my accounting software in which I reconcile all incoming and outgoing transactions, attach receipts and so on. My accountant can log in if he needs and uses it to rapidly prepare BAS, tax and financial statements.
At the end of each quarter I send him my starting and ending inventory balance and the Ebay Payout report for the quarter and he does the rest, with the info recorded in the accounting software.
Ebay sales reports only go for 90 days. The payout report you can run over longer periods and thus always capture the entire period. It contains gross sales, fees, returns and so on. It also shows which transactions have been made but not yet paid out, so my accountant can quickly compare the reported net amount to the combined value of the weekly payouts in the same period.
Depending on your system and the accounting software package you use, you can feed a lot of the detail in via API, system to system. I explored that but I have a catalogue of over 400,000 items (including variants) and the off the shelf API can only accommodate a few thousand. But depending on your catalogue size and systems in use, it might work for you.
Seek advice from your system vendor and your accountant.
Denis
Re: Ebay and Bookeeping
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on โ05-04-2022 05:03 PM
Just a question Denis - how do you send an item - $2.45 - free postage. ??
Re: Ebay and Bookeeping
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on โ05-04-2022 05:37 PM
Postage for cards is only $1.10 domestic, Dom.
No biggie
Re: Ebay and Bookeeping
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โ05-04-2022 05:40 PM - edited โ05-04-2022 05:41 PM
$2.45 - $1.10 = $1.35 - packaging - time - fees = ???
Re: Ebay and Bookeeping
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โ05-04-2022 06:17 PM - edited โ05-04-2022 06:18 PM
Fees would only be around 34 cents?
Packaging - recycled cardboard.
Time you can't count IMO
It's just the pure joy of selling something that counts
Re: Ebay and Bookeeping
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on โ05-04-2022 06:23 PM
LOL - a buck is a buck. ๐

