Best Accounting Practices?

[jentwinmomx2]

Hi!  I'm new to selling and I just want advice on the best way to do my accounting.  I have a Mac and will need purchase some accounting software soon, but I'm not sure what will work best for this newbie.  I know my way around a computer, but I haven't done much accounting in a while.  Thanks in advance for your help!

[mjk_79]

I use the GoDaddy Bookkeeping app (Outright). 

It'll track all of your sales and expenses that go through ebay or paypal. All you have to do is put in your cost of goods sold for each transaction. 

Then just pay your estimated taxes for each quarter, and plug your schedule C into your tax software at the end of the year and you're set.

It's 99$ per year, for everything it does I think it's a great deal.

[greenpeach1]

I use the "Easy Auction Tracker". It is an excel spreadsheet that has been created for ebay and amazon users. It is $29.95 per year, and it tells you everything.