Bookkeeping and inventory software recommendations

[grema_818]

May I get a short consensus for which bookkeeping software my fellow sellers are using?

[dbfolks166mt]

     I am not a large seller so I simply use several EXCEL spreadsheets. I have one for tracking purchases/expenses and one for sales with some cross links between the various sheets in some of the workbooks. 

[etsvcs]

I used Excel and Google Sheets.

[wheredidiputthatremote]

Large or small, Excel is the way to go. You can download a detailed monthly statement as a .csv pull it into a spreadsheet and crunch the numbers. I wrote my own macro to suit my own needs, but a simply importing .csv file and adding up a few columns using a basic formula is all you need. It may sound daunting to some, but Google is your friend.

[sin-n-dex]

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@grema_818 wrote:

May I get a short consensus for which bookkeeping software my fellow sellers are using?

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I'm a bookkeeper by trade, and logging stuff in quickbooks is very time consuming.

I use spreadsheets to track my expenses and sales on eBay because that's easier. Then I use formulas to calculate what I want to know.

C.

[rencycleleather]

I use Seller Ledger.   It is a very simple, easy to use and affordable accounting software geared to resellers. You can connect eBay, Etsy, Amazon, and multiple other platforms. You could also connect more than one storefront from each platform if you have them.  

Full disclosure I am an accountant and reseller and have used spreadsheets, QuickBooks, the old Go Daddy bookkeeping (used to be outright bookkeeping before GoDaddy took it over), and now seller ledger. Seller ledger was actually created by the original creators of Outright/GoDaddy bookkeeping

For its simplicity for non-accountants and affordability I like it the best

[onefootflipper1]

You don't need anything complicated. You could honestly use notepad.

I have 2 spreadsheets, 1 for cost of goods and 1 for other expenses. Then when I go to do my taxes I break the other expenses spreadsheet down into the various subcategories that I need for my taxes.

[duffy4444]

    Seller Ledger, without a doubt. Look at what @rencycleleather wrote in post #6. It says everything. The only thing I could add is that it automatically populates a Part 1 and Part 2 of a Schedule C for use at tax time, and information can also be manually entered and edited. I'll be saving a lot of time this year with all that information at my fingertips.

    I was one of the original beta testers and consultants a couple years ago when Kevin Reeth (the originator of Outright which later was taken over by GoDaddy Bookkeeping) was getting Seller Ledger off the ground. I was so happy to be involved early with SL after GoDaddy Bookkeeping threw us under the bus back then.

    Check it out... it was made with the average eBay seller in mind. Simple yet comprehensive.

Cheers, Duffy

[artsy*me]

I use sellerledger. I loved the simplicity of it. I use it for eBay, poshmark, Mercari,  Shopify and I manually enter data from my vendor booths.  It’s easy peasy

[bidprice101]

I personally use Xero . I started off with quickbooks like 20 years ago and looked into several others but I changed over to Xero a couple of years ago. The problem with a lot of software out there is the function to "track inventory" is only available in more expensive tiers. Quickbooks was going to be almost $100 a month. I use the cheapest plan that xero has and it still allows you to track inventory. 

[bellelinens]

@rencycleleather   Thank you!  I am a bookkeeper that uses QuickBooks but have been looking for something different for my online sales.  I like to enter everything manually so the software should be a good fit.  I appreciate the recommendation.

[bigtexasyardsale]

Just Excel.  One thing I do that makes it all work is embed my COGS in the "custom label" field. I use the first part of the custom label field as my warehouse location, then an "x" and what my cost is.  Once I download the eBay transaction report I have a column for COGS with a formula that takes anything to the right of x and returns that value.  Voila... sales, fees, shipping cost and COGS all in the same spreadsheet.