Operating a successful business involves keeping current and accurate records. I can't tell you how many times I have asked a client how much profit they are making and they say, "Well, I am not really sure." Then 
I ask how they are keeping their eBay business records and they say, "I don't track that, but I know I am making money." You may think your business is doing well because you are selling and shipping items and there is money in your Paypal account.This is a dangerous assumption.
eBay has a free application called Outright that helps you track your eBay profit, expenses, and sales. Remember that eBay is going to start sending out 1099s in the future and you will need to report your sales on your taxes. This free application will help you track sales, expenses, fees, and Paypal transactions so reporting all of this information to the Schedule C on your taxes will be fast and easy.
Outright is very user friendly and you don't need to be an accountant or financial expert to use it. Many sellers in my eBay Facebook group were recently discussing Outright and find it to be the perfect tool for tracking eBay financial data. You can find the Outright application under the applications tab in your eBay Selling Manager. Best of all, it is free!
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