eBay

classiccargoodies · ‎01-14-2022

How to create a year end report ? Balance Sheet, Financial Statement from seller hub

luckythewinner · ‎01-14-2022

@classiccargoodies wrote:
How to create a year end report ? Balance Sheet, Financial Statement from seller hub

How in the world could eBay create a balance sheet for you? A balance sheet shows your assets, liabilities and owner's equity. eBay has none of that information.

As for financial statements - what sort of financial statement are you expecting? eBay can't do an income statement or a cash flow statement, because it does not know about all of income or expenses.

kosmosattik · ‎01-14-2022

The following is about the extent of it:

https://community.ebay.com/t5/Ask-a-Mentor/end-of-year-sales-reports/qaq-p/31682960

It's surprising that with your sales volume you would be unaware that eBay is not going to do the job of an bookkeeping software package.

slippinjimmy · ‎01-14-2022

Pretty "simple"

You run a transaction report (Seller Hub - Payments Tab)

Take the numbers that matter (Total Sales, Total Fees, Total Expenses (ie: postage labels), Total Returns etc.

Plug those numbers into your accounting flow (whatever that is from pieces of paper to a full blown accounting package) and voila you have a Balance Sheet and Income Statement.

You've been selling here a long time, how did you do it in previous years?

classiccargoodies · ‎01-15-2022

Hello, I will take a look I tried what I though was a blance sheet but did not get those options you have mentioned. I can go back and print all the monthly Financial Statements But I was hoping that eBay would off a year end, Being lazy making my fees work for me 🙂

I don't feel this past year was profitable sales have been down because of the pandemic. Sales have been very slow and with shipping rates going up and eBay commissions my profit margin is slowly going away. I really can not compete with the bigger sellers in my niche. I try to make up by customer service and good pictures.

Thank you for your input . I will look in seller hub again see what i missed.

buyselljack2016 · ‎01-15-2022

Seller hub>

Performance Tab ----> Sales ----->
For the Range setting choose "Custom"
01/01/2021 to 12/31/2021

classiccargoodies · ‎01-19-2022

Well sort of but was not expecting the berating one. I am trying to prepare myself for the multiple 1099 I will be getting in this year. I guess I asked the wrong question.

eBay knows its fees that it collected through its managed payouts weekly and what I actually received so why couldn’t it do that in annual financial statement form at the end of the year?

jaad_6732 · ‎01-19-2022

I have tried multiple times and it gives me a report that can't be opened. I never had the issue until this year. I cant even download a 1099k and haven't received one in my email or my mailbox. So my best guess is ebay messed up the 1099ks and reports trying to do a update to something else. All you can do is make a post and hope ebay sees the issue and fixes it. If you call you have a 1 in 100 shot of getting a person who knows how to help you with ebay support. Last rep told me that you can only print 5 orders at a time in bulk shipping. Another time i didn't get paid for almost 30 days because they needed to update my information. I spent literally over 30 hours total on the phone with ebay reps trying to fix it. Hopefully they fix the reports soon or send out 1099k reports. But your guess is as good as mine. But ebay could just allow us to keep a years worth of sales data instead of 90 days and we wouldn't have this issue.

dbfolks166mt · ‎01-19-2022

I have tried multiple times and it gives me a report that can't be opened. I never had the issue until this year. I cant even download a 1099k and haven't received one in my email or my mailbox...............

Unless you live in a state where the 1099 reporting requirements were changed prior to the Federal requirements going into effect in 2022 and you exceeded those thresholds you will probably not get a 1099 from eBay this year either in your mail or electronically. You should receive one in January/February of 2023 if you exceed the Federal thresholds during the 2022 business year.

While you cannot pull a "balance sheet" for the eBay reports you can pull a sales report from the eBay reporting capabilities. From the payments section use the report tab and enter the custom dates you want the information from. Run the report and you will get a downloadable file that you can open and review. You can customize the spreadsheet to however you want the data arranged according to your personal preference. I save mine in an Excel spreadsheet and use separate tabs to split out and customize the information for things like sales, fees, shipping and other expenses.

classiccargoodies · ‎01-19-2022

I as well have tried to create this report I find no place to add shipping fees refunds. The Closest I can get is the Financial Statement I receive every month that I print out I still need to claim the income on my Schedule C so i need to create my own 1099 even though in 2020 did not meet criteria this ear 2021 203 sales so I am hoping to receive 1099 for 2021 .

I was hoping that eBay could use their numbers that they have to generate the Financial Statement Monthly and allow us to generate a Year end Financial Statement. I don't expect eBay to offer a bookkeeping or accounting system for the fees and commissions they collect from the sellers but at least give us a chance to be able to generate a report or spread sheet column with the appropriate tabs Income minus fees, shipping so we could get a net .

dhbookds · ‎01-20-2022

no place to add shipping fees refunds.

@classiccargoodies

Could be wrong.......but I think shipping label refunds would be included in the "shipping" section of the financial statement...... Try getting the "detailed" summary to see if they show there. I don't have a label refund to see if it's there.

dbfolks166mt · ‎01-20-2022

If you pull the report as I described while it does not specifically note differences between shipping refunds and other type of refunds the report does include ALL refund types. The refunds are under the "Type" column in the report.

dbfolks166mt · ‎01-20-2022

I as well have tried to create this report I find no place to add shipping fees refunds. The Closest I can get is the Financial Statement I receive every month that I print out I still need to claim the income on my Schedule C so i need to create my own 1099 even though in 2020 did not meet criteria this ear 2021 203 sales so I am hoping to receive 1099 for 2021 .

I was hoping that eBay could use their numbers that they have to generate the Financial Statement Monthly and allow us to generate a Year end Financial Statement. I don't expect eBay to offer a bookkeeping or accounting system for the fees and commissions they collect from the sellers but at least give us a chance to be able to generate a report or spread sheet column with the appropriate tabs Income minus fees, shipping so we could get a net .

You do not create a 1099 for yourself and you do not need a 1099 to claim income on a schedule C. I reported income for years without ever getting a 1099 because I never exceeded the old reporting thresholds.

The report I described will give you almost everything you need to get the NET at least from the eBay element portion. To that you will have to add any other expenses that the eBay report will not show such as original COG sold (what you paid for the item), shipping supplies, POV, etc. Only you will know these from your own records.

classicpartshouse · ‎01-20-2022

Thank you you have been very helpful . I lost my husband and tax accountant this year and that is why I am struggling. I should have paid more attention it is a hard learning curve.

I will study harder.

luckythewinner · ‎01-20-2022

@classiccargoodies wrote:
Well sort of but was not expecting the berating one. I am trying to prepare myself for the multiple 1099 I will be getting in this year. I guess I asked the wrong question.
eBay knows its fees that it collected through its managed payouts weekly and what I actually received so why couldn’t it do that in annual financial statement form at the end of the year?

I did not "berate" you. You asked about very specific accounting reports, and I answered it.

If what you are looking for is not an Income Statement but rather just a is a complete history of all your transaction for the year, that is available as a CSV file download under Seller Hub > Payments > Reports > Transaction Report.