The following is a guest post from EBSQ Artist Shannon Fogl:
Tax time is upon us again. Time to get all your sales records together, collect invoices and calculate fees! However, if you’ve been using eBay this just got a lot easier.
EBay offers a free application you can add to your MyEbay section. Simply go to: http://pages.ebay.com/salesreports/welcome.htmland click on which application you’d prefer for ebay to show you your sales reports. Both are free and simple to use and print. I turn these sales records over directly to me CPA who loves how organized and convenient they are.
From the two applications available I find the PLUS version is better if you sell multiple items across multiple categories, or you are a power seller. If you sell solely in the art category, the original will have everything you need.
You will get an updated report every month with your sales and fees for eBay AND paypal listed in easy one page printable files. If you want to retrieve a whole years worth, they’re stored right on eBay whenever you need them. EBay will keep up to 3 years of records for you just in case.
Now you’ve downloaded this application, how do you retrieve it? Just simply togo your MyEbay page, and click on the My Account tab. A drop menu with come down with a list of subscriptions and applications available for buyers and sellers to use. The Sales Report Link for you will be toward the bottom of that menu. Once you click on the link it will take you directly to your own person sales report page. There you will find a second drop down link with summary reports for all the months you’ve been selling there. Just chose your date and it will generate you a sales report with all your actual sales amounts that month, fees to ebay you acquired, and costs to paypal. They even top it off with a nice chart of those sales and fees too!
I hope this has made tax time a little less stressful!
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