Managing eBay Profits/Inventory? I need help and advice please.

Discussion in 'Random Topic Center' started by Mew*, Jul 17, 2008.

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  1. Mew*

    Mew* Active Member

    Ok, well I'm going to report any profits I make to the IRS and I will pay sales tax on my sales to buyers in my same state, but I need something to help me manage that information. I know there are sellers that make Excel spreadsheets that calculate the information for you. I was thinking about buying one of those or learning how to make my own, I think I'd rather learn how to do it myself. Does anybody have a system they'd recommend to managing profits? Is pen and paper easier in the long run due to fee changes every year? I signed up for this thing from eBay that automatically calculates how much PayPal and eBay fees I was charged each month, so that would help a lot.

    Also, I have no idea how I'd manage inventory. Say I buy a used iPod on eBay this month for $125 and I only decide to sell it for $180 (about a $38.89 profit after fees and all) in a different quarter of the year... well what would I do... record it as a loss for when I never attempt to list it that quarter, and then the different quarter that I sell it I would list it as 100% profit aside from fees? Sorry if I sound confusing, I really don't know what I'm talking about.

    I'd really appreciate any help, thanks.

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