? keeping track of ebay sales

[eggdashure]

Do you keep track of your ebay listings? If so do you track on a spreed sheet and what are the categories you use?

This question is for anyone but I definitely want to hear from the ebay coach. Thanks

[ebaycoach]

Yes, I have a spread sheet and track EVERYTHING. You have to know your expenses and revenue to determine your profit - so you can understand how much money you make.

I have columns for my purchase price for the item, listing fee, sale price, final value fee, paypal fee, shipping collected, and shipping actual cost. All of the columns are formatted to do the math to calculate the profit.

This is going to be very important because in 2012 eBay will be issuing 1099s. You will need to know the shipping amount collected and the actual shipping amount for each item as the amount reported by eBay on the 1099 will be the amount you collected from the customer - then you have to deduct the postage as an expense.

I have a sample spread sheet if anyone would like a copy. Just email me at ebaycoach@yahoo and request a copy.

You may also want to listen to this podcast with Christine McKinley, and eBay Tax Expert, who explains the coming changes in 2012. Click here and see Episode 21 for the podcast.

[Lucille]

i have emailed you for the example - thanks