I started out with QuickBooks. Imported from GoDaddy and my two Ebay stores. Ran both programs side by side for a week. Within a week QuickBooks was off by $7000. My assumption at this point is that I had incorrectly set QuickBook up to begin with. I then took a look at Wave (free). Although it is a double entry accounting program, it uses a single entry (bookkeeping) format. I left their chart of accounts intact and added the additional ones from my GoDaddy account. I then ran a GoDaddy P&L statement from 1/1/22 to 5/31/22 and added the transaction totals into Wave. That gave me a year to date starting point.
Next I added any daily off Ebay transactions and will have to continue adding those. (had to do that with GoDaddy anyway) Going forward I will add my Ebay transactions right from the monthly statements, which we usually get about the 5th of the following month. Just have to remember to change the date of the transactions to the last day of the month they cover. That way it keeps sales and expenses in the correct month.
The layout in Wave is very similar to GoDaddy, but the delayed input eliminates the ability to check on any given day how you are doing from an accounting standpoint. However, month to month and year to year should be correct, at least after we get through this year (starting point) and going forward.
I initially hooked Wave to my business checking account and then promptly removed it. I had imported all transaction from the beginning of my account and put them all into this year even though they all had previous years dates. At this point I removed all transactions from the business account and unhooked it from Wave.
When I cancelled QuickBooks I filled out the questions they asked about why I was cancelling. Two days later I get an email from them offering a simple bookkeeping program. My thought was that maybe they should have lead with that from the beginning of their relationship with Ebay.
