Many of today's most successful online entrepreneurs started by buying and selling items on eBay, and they eventually grew their hobby into a full-fledged eBay business. If you plan on selling items on eBay as a business, you will need to keep track of your income and expenses. If you're handling more than 20 eBay transactions per month, you should consider using software that's designed to make accounting fast and easy.
QuickBooks Online is the # 1 cloud accounting solution for small businesses1. It gives you real-time reports about your eBay business and keeps track of everything for you, behind the scenes, including your sales tax liability. Integrate your eBay business with QuickBooks so that your accounting is accurate and up-to-date. Use QuickBooks for eBay bookkeeping to not only generate financial statements, but also to manage your inventory and track your sales. Try QuickBooks Online for free today.
QuickBooks does the hard work for eBay business owners
QuickBooks Online makes bookkeeping, reporting, and other accounting tasks easy. It is accessible 24/7 from your computer or mobile device so that you can efficiently manage your eBay business from anywhere. Access your sales information, payments received, bills due, and more from one central location. QuickBooks performs calculations, organizes transactions in the appropriate places, and keeps all of your information in one accessible location. It even shows you quick snapshots of how much you're making, who your best customers are, your best-selling items, and more.
QuickBooks automates many of the common tasks that are important to eBay business owners, such as tracking inventory. For example, as you purchase merchandise for your eBay business, QuickBooks automatically adds the merchandise to your inventory. Every time you sell an item, QuickBooks deducts the item from your inventory. By doing this, you automatically have the accurate data necessary to manage your inventory, and you can also use this data later when you do your taxes.
QuickBooks for eBay provides you with the reports and data you need to successfully run your business
Get the reports you need for successfully running your eBay business. QuickBooks has over 65 pre-installed report templates, making it easy to run the reports you need to analyze your business and make smart decisions. The Sales by Item Summary is particularly helpful for eBay businesses as it shows you the quantity sold, total dollar amount sold, average selling price per item, and the average cost of goods sold. It's an easy way to see exactly what you sold during the last month, quarter or year so you can decide what to continue selling and which items to discontinue.
Many eBay business owners jump-started their business by applying for a loan. You can too, as long as you keep good records as an eBay seller. Most loan applications require a ton of paperwork, including an accurate financial history of your eBay business. QuickBooks keeps all of your financial information in one central location so that you can access this data anytime and from anywhere. Go ahead, apply for that loan!
eBay business owners typically accept PayPal payments, and QuickBooks can help you manage and track your PayPal sales. You can easily import your PayPal information into QuickBooks or you can connect QuickBooks directly with your PayPal account. To set this up, go to the Online Banking option under the Banking menu and click Set Up Connections.