06-01-2023 07:25 AM
Sellers Hub, Performance Tab, Sales. For the purpose of reporting income, calculating taxes owed, etc, what figure do I use as top line sales? Do I uses "Total Sales" that includes seller fees, shipping paid by buyer, and buyer sales tax handled by ebay, or do I use the "Net Sales" number minus those things. I'm looking for my top line gross sales number that I will subtract cost of goods, and all operating expenses from, to arrive at the actual income number that is taxable. Thanks.
06-01-2023 07:30 AM
Use the gross sales, but not the sales tax collected by eBay. You never received that tax. Ebay took care of it. Then deduct your expenses.
06-01-2023 07:39 AM - edited 06-01-2023 07:40 AM
Personally, I prefer using this report to do final accounting for the ebay side of my books
you might give this a look too....
https://www.ebay.com/sh/fin/reportslanding
It gives all the basics if you are not looking for all the superfluous details like some of the other reports
06-01-2023 07:40 AM
@miniaturesun wrote:Sellers Hub, Performance Tab, Sales. For the purpose of reporting income, calculating taxes owed, etc, what figure do I use as top line sales? Do I uses "Total Sales" that includes seller fees, shipping paid by buyer, and buyer sales tax handled by ebay, or do I use the "Net Sales" number minus those things. I'm looking for my top line gross sales number that I will subtract cost of goods, and all operating expenses from, to arrive at the actual income number that is taxable. Thanks.
I export my entire transaction history and do my own calculations.
That way I know exactly what the numbers mean.