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Small Business Lifesavers: TaxJar, Turbo Tax & GoDaddy Bookkeeping

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I am a Silver level eBay Powerseller, top-rated and long time eBay Trading Assistant.
I have to keep track of sales, business expenses, sales tax collection and pay my consignor clients. I use a combination of online tools to help me stay organized.

I use Google docs and Google calendar to keep track of my sales in real time. I record each sale after the eBay buyer has made their PayPal payment. After shipping, I note sales price, cost of shipping and commission to my client and also my take (before fees). I use a spreadsheet in google docs that uses the basic addition feature of those columns. I break the numbers down month by month. Easy to set up and use.

I use GoDaddy bookkeeping (an eBay application formerly known as Outright) to import all the sales, costs of shipping and other expenses. They do a more accurate job since the numbers come directly from eBay and Paypal themselves, automatically and behind the scenes. One can add additional transactions manually as well. I can see my yearly or monthly profits at a glance in my dashboard. I can see checks that have cleared my bank and connect as many accounts as I like that have to do with my business. My American Express business card is on there too. I would be lost without this simple, yet robust online bookkeeping program. There is a free version, but I use the $49/yearly plan because it does a little more for me. I can print out my Schedule C (and I did!) for my income taxes and fill in the numbers right into Turbo Tax without any problems.

Turbo Tax is another tool I could not do without! I just finished my income taxes this past weekend and reviewed my numbers on my Profit Loss Schedule C form. It was a breeze to use by answering simple questions, one could go forward and back and come back to visit a particular section, save it for later or try different numbers to see how the tax liabilities would be affected. I am a Mac user and have been a long time Turbo Tax client. Easy for the do it your-selfer!

Last but not least is the app called TaxJar. I sell on eBay from my office in Marin County, CA and collect sales tax from California eBay buyers. TaxJar knows what county the buyers are located and has a cool feature: what you have collected and what you should have collected built into its program. As I compare my numbers to TaxJar’s, again they are more accurate than I and when its time to pay (yearly for me), I follow some simple steps and payment can be made to the State Board of Equalization: one, two, three. It used to take me a couple of hours, now it takes a matter of 10-15 minutes in total. The dashboard gives the user a quick overview at a glance to be on track anytime you login!

As a sole business owner with only part-time help, my time is valuable to me. I am thankful to have some simple to use, very proficient, life saving business tools in my bag of tricks. If you haven’t tried them, you should today!

Next month I will report on my other new favorite program, Seller Vantage! Perfect for online consignor sellers.

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