What report tells me my yearly sales for income tax?
Trying to do our first years of taxes as a business. I'm slowly figuring it out. But when reporting sales, what report or section of report do I need to get the total?
3 comments
Trying to do our first years of taxes as a business. I'm slowly figuring it out. But when reporting sales, what report or section of report do I need to get the total?
recped
·5 months agoI suggest you download a complete Transaction Report, it will contain a complete history of sales, shipping (if bought on eBay), returns, refunds etc.
Details herre:
https://www.ebay.ca/help/selling/fees-credits-invoices/reconciling-ebay-sales-transactions-managed-payments?id=4847
Report Download here:
https://www.ebay.ca/mes/transaction-reports?q=payment-transaction-report&sh=true
eBay does provide some condensed reporting but it's best to have the complete information.
landbeforevintage
·5 months agoThose reports are so hard to understand? I can't find a total at the end either, and speadsheets are hard to navigate. I am curious how others navigate that report.
msau4301
·5 months agoIf you're looking for basic numbers without the big spreadsheet you can find them in Sellers Hub if you go to "Sales". Once there it's defaulted to last 31 days but you can choose the drop down menu and then change to "Last Year". Make sure you hit the blue button on right "Generate Report" and it will calculate for you. You will see Total Sales, Tax Collected by eBay, Selling Costs (Fees) and Shipping Labels if you purchased them from eBay. This is the basic chart I use.