Whether you are new to eBay or you have been selling for a long time, it is important to track your eBay sales. This comes in handy for two reasons. One, if selling eBay becomes a business that is making some good money, it is very important to track your profits for tax reasons. Two, tracking your eBay sales will help you identify items that make you good money consistently.
You also need to keep track of your car mileage, how much you paid for an item, eBay and PayPal fees, taxes, and more. All of this can be a bit overwhelming if you don’t have a system in place. Today I want to talk about three different ways to track all of these categories, and the benefits of them all.
Excel SpreadSheet – I’m sure you have used an excel spreadsheet (or Numbers for Mac users). It’s the grid style application that allows you to create your own formulas to make your life easier. Well, I know how overwhelming it can be to make your own spreadsheet, especially if your not a number genius. Luckily for us, there are many already made that we can get for free on the web. You can find some HERE. With a little bit of tweaking, you can customize it to make it your own and be on your way! There are also many for sale on eBay, so if you are creative and have some serious Excel skills, you may want to sell your own!
Selling Manager – If you have an eBay store, then you can utilize the eBay Selling Manager. The Selling Manager is completely free when you have a store is can be a complete solution to easily track and manage all of your sales. The benefit of using this service is that it is located right inside your My Ebay. With this, you can use the Sales Report Plus (which is free), and get in-depth information on your weekly and monthly activity. More information can be found HERE.
Outright – My personal favorite is an eBay application called outright. I have talked about this service before, but it is worth bringing it back up again. This service is absolutely free, and it automatically organizes all of your eBay sales and expenses. This includes all of your final value fees, listing fees, PayPal fees. The best part of this service is that it is tied into your PayPal account, so if you are using your PayPal debit card to make your eBay inventory purchases, then you will receive a weekly email letting you know how much profit you made in the week. You can also go into the program and view your profits at anytime. The benefit of using this program is that it will calculate your quarterly taxes for your eBay sales. This program has changed the way I do business, and has cut my time in half. You can find more information about this product HERE.
As I said before, tracking your eBay sales is just part of your eBay business. Its a necessity to keep you on the right path, and for keeping all of your records for tax purposes. No matter how you decided to track your eBay sales, you will feel less stressed knowing how successful your eBay business really is!