Simply-the-best-for-you Volunteer Community Mentor
So in previous years I would run a transaction report under Seller Hub - Payments Tab for selected months/year and then take the numbers that matter (Total Sales, Total Fees, Total Expenses (ie: postage labels), Total Returns etc.) into Excel, sum them all up and file a schedule c.
However this year I noticed something new? Called “Financial overview” which looks to have all the numbers already totaled. (See attached picture)
Can I just use these numbers from now on rather than doing it all through Excel or would it be missing anything that I would need?
Well, I mean, you'll need to add your COGS, your mileage, all your other business expenses that eBay would have no way of knowing, etc.
I use all my own numbers, so can't speak to how accurate the report is, but there's so much that goes on Schedule C, that eBay doesn't have.
@yellowvcr wrote:Oh definitely I just meant the eBay part of things like Fees, Returns, Gross income just through eBay. Could I just use those numbers on Financial overview?
Ok, just wanted to make sure you weren't missing that stuff. Sorry, I can't help with that. I have not used it, as I keep all my own records. We haven't done this year's taxes yet. I'm looking fwd to seeing how those stack up against my own numbers. I'm thinking it may make things easier, but wait for people who have already used it to answer 🙂
