Auction Power Guide

Watch this video to learn more about my weekly Ebay vlog: http://www.youtube.com/watch?v=88wJoH8bEp0

Read my guide to selling on Ebay and Amazon: http://www.seeannsave.com/2013/01/11/online-selling-guide-resources-to-help-you-to-sell-on-amazon-ebay/

SEE ANN SAVE
Blog: http://www.SeeAnnSave.com
Facebook: http://www.facebook.com/SeeAnnSave
Twitter: http://www.twitter.com/seeannsave

ANNABELLA’S GIFT SHOP
Ebay Store: http://stores.ebay.com/Annabellas-Gift-Shop
Amazon Storefront: http://www.amazon.com/shops/annabellas-gift-shop
Facebook: http://www.facebook.com/pages/Annabellas-Gift-Shop/206695186023196
Twitter: http://www.twitter.com/annabellas

Duration : 0:12:53

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At the beginning of the year I started up a small home business purchasing and re-selling consumer electronics products. Business license and registered with the state (Georgia) as DBA. I am a sole proprietor and the only one involved in the business.

January and February have been kind of rocky. I was learning the best and cheapest ways to ship, the quickest ways to test my products (stuff like memory cards coming from wholesale suppliers that could unknowingly be selling fake/misrepresented cards to companies, etc.) I sell on Ebay only, and I only accept Paypal as a payment method. So every sale, sale date, product description, Ebay fees, Paypal fee, date sold, etc. are all there. When I was a little more naive, I unknowingly flipped some products before I knew of a solid way to test them, so I got some returns and had to refund. Long story short, January and the beginning of February turned into an accounting nightmare in regards to logging everything. I utilize the "Outright" program on Ebay, which pulls all of my Paypal data. So it basically organizes everything, tells me the final profit, the total fees/business expenses for each month and year, the product description, date sold, sale price, Paypal fees, Ebay fees…all of that. The only thing it doesn’t log is the original purchase price and purchase date. I’m pretty much screwed for January and February in regards to proper documentation in regards to bookkeeping, but I do have the final profit amount for both months, all of the expenses and fees, payments received, etc. and I will just have to eat the taxes on the purchase amount vs. re-sold price. So taxing the whole instead of only the profit.

Is there a better way to keep track of this? I did make a spreadsheet in January. It has the item description, purchase date, purchase price, purchase tax paid, purchase shipping fee (I buy all of my inventory online and get it shipped to me from wholesale companies using my tax id), resale date, resale price, shipping fee, Georgia sales tax charged (if they were in my state – I only had one sale to Georgia during January and February and I have logged and paid taxes to the state on that), Ebay Listing/Insertion Fee, Ebay Final Value Fee, Ebay Final Value Fee on Shipping, Paypal Fee and then Finally Profit/Loss at the end.

Yeah, that’s a lot of fields to log for each transaction. Outright seems to do a really good job with keeping up with everything and letting me just print out all fees and sales with proper dates and descriptions. The only thing it doesn’t keep up with is the purchase price. I try to print out the invoice each time I buy something to re-sell and staple that to the printed paypal transaction paper for each transaction, when I have sold it. Is there a good way to keep this from being too tedious? We’re talking probably…$4,000 a month in sales in February. January was rather slow.

At tax time, Outright supposedly makes it easy to just see the total profit, total fees/deductions and such. But it doesn’t have an option to compare my purchase price per item to the re-sale price. So I could print that stuff out…but I’d end up paying taxes on everything for the whole year as a $0 purchase price value.

Any advice from sellers? Apart from "Get a CPA to do it all for you"…I wouldn’t make anything if I did that.

I keep all my items, prices, descriptions, final payouts, etc listed in an excel workbook. It does my calculations for me once I put the formulas in and I have a nice setup now after using it for a while. I don’t have to pay any fees to use it and I’m just very organized and attentive to it. If your business is so large that you can not handle the books on your own, I suggest hiring an employee. It shouldn’t take much training to keep good records. Just discipline.

Just a quick video on what I found this weekend. Estate sales and garage sales have all been super slow, hoping things will pick up as the weather improves and people get over being sick. Been a lot of people and a small amount of sales people have been fairly aggressive and mean at estate sales – so not worth it, we are talking about grown adults. Just scraping by and listing things on eBay when I can.

Duration : 0:4:22

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In this episode I talk about slow times selling. Check it out as I search through ads on estatesales.net

Check out my blog
www.youtubemorningcupofjoe.blogspot.com

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Duration : 1:9:38

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Wanted to get some feedback on where to get DVD’s in bulk and also the current slow rate of sales. Is it just me or is it online sales in general for sites like eBay and Amazon? Let me know in the comments below!

Duration : 0:3:50

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SEE ANN SAVE
Blog: http://www.SeeAnnSave.com
Facebook: http://www.facebook.com/SeeAnnSave
Twitter: http://www.twitter.com/seeannsave

ANNABELLA’S GIFT SHOP
Ebay Store: http://stores.ebay.com/Annabellas-Gift-Shop
Amazon Storefront: http://www.amazon.com/shops/annabellas-gift-shop
Facebook: http://www.facebook.com/pages/Annabellas-Gift-Shop/206695186023196
Twitter: http://www.twitter.com/annabellas

Read my guide to selling on Ebay and Amazon: http://www.seeannsave.com/2013/01/11/online-selling-guide-resources-to-help-you-to-sell-on-amazon-ebay/

Duration : 0:5:49

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http://internetmarketingbrandingnow.com 6. Ebay Training Videos | Prohibited Items on Ebay

Thanks for listening. Come get more free internet marketing and online business building resources today.

http://internetmarketingnow.in

Duration : 0:3:7

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http://internetmarketingbrandingnow.com – 1. Ebay Training Videos | Ebay Registration

Thanks for listening. Come get more free internet marketing and online business building resources today.

http://internetmarketingnow.in

Duration : 0:5:11

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http://all4utoday.com – 8. Ebay Training Videos | Your Ebay Reputation and Feedback

Thanks for listening. Come get more free internet marketing and online business building resources today.

http://internetmarketingnow.in

Duration : 0:8:20

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Jeremy Lin Rare Cards For Sale. ATTENTION All JEREMY LIN FANS!! I have here a Jeremy Lin card collection you don’t want to miss out on. “See Ebay link below” (27 cards left 10 autos still an awesome set with a good variety of autograph cards ALL MINT bumped price down to $2600 an awesome price (THESE ARE NOT LASTING!!!) Due to slow sales I have decided to part with my collection. My loss your gain!!! There are very few base cards in this collection mostly rares including autograph cards 10 to be exact. Three cards are very low production one is 49 mintage and two are 25 mintage. Includes National Treasures,Timeless Treasures, Bonus Shots, Panini Classics and more. All cards as you can see are mint mint. Perfect corners, edges ,surfaces if these don’t grade high I don’t know what will. An awesome collection and investment as these are going up in value real fast.If interested please see Ebay link below Thanks.
http://www.ebay.com/itm/JEREMY-LIN-SANITY-ROOKIE-CARD-COLLECTION-12-Auto-Many-Rares-29-Total-Lot-MINT-/261014724854?pt=LH_DefaultDomain_0&hash=item3cc5b0a0f6

Duration : 0:8:28

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