Selling on eBay is going well, and you want to keep track of your eBay profits. The best place to tally up your eBay sales is on your My eBay page, which helps you stay organized while you’re conducting all your eBay business.
But you can’t just add up your selling prices and call that your profit. Use this checklist of what to watch out for after the listing closes:
Keep an eye on how much you’re spending to place items up for sale on eBay. You don’t want any nasty surprises, and you don’t want to find out that you spent more money to set up your listing than you received selling your item.
If you decide to turn your eBay selling into a business, keep track of your expenses for your taxes.
Make sure that you get refunds and credits when they’re due.
Double-check your figures to make certain eBay hasn’t made mistakes. If you have any questions about the accounting, let eBay know.
If you find an error or something that isn’t quite right with your account on eBay, use the eBay Contact Us form to get your questions answered.
If your eBay business really takes off, you’ll want to get more formal about tracking the money you make and spend. When it comes to calculating your bottom line, it’s best to get comfortable with using an accounting program like QuickBooks.