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 yisgood
 
posted on August 30, 2000 06:49:23 PM new
Remember the days when you needed a store, a business license, paid rent, taxes, advertising, merchant bank fees? Today you get a PC (and even that can be free), free Internet, a free Yahoo ID, a free "merchant account" from Paypal, et al and you're in "business."
Too many newbie sellers think everything should be free. You can find them here whining about Paypal ("how dare they make me verify myself! Isn't my rating good enough?", about buyers who don't pay within 3 seconds of the EOA, of the terrible expense of 35 cents for delivery confirmation, etc. I wish someone could explain to these whiners how easy they have it. All business involves some risk, some expense and some aggravation. If you want none, stay out of business. And some of you sellers wake up! Your TOS is not the ten commandments and buyers should not be stoned for daring to question it.

 
 glassperson
 
posted on August 30, 2000 06:49:43 PM new
Do you old timers remember selling mail order on the Antique Trader? I did for many years. We used to have a dealer's telephone exchange system where we told each other about "bad buyers" who sent "bad checks".A sort of feedback antique-style!

I just had an auction close with a Canadian buyer as the only bidder even tho I said" "Don't ship international". Yeah! Right! I will cut my own throat and of course I will ship to Canada if she is the only bidder! I expect newbie sellers to snort and cancel the bid. Not me!

I used to do 6-7 shows a year traveling all over selling glass. A lot of hard, work! Setting up, unpacking 40 or so tomato boxes for 5 hours, repacking, etc. ebay has made all that hard work easier and the folks that now frequent consignment shops, thrifts, garage sales, etc. will soon realize that you can't buy all your stock there! It just isn't there! The one GOOD thing about Shows, is that you got to BUY FIRST!

You must make contacts, buy from other dealers, talk to lawyers, and real estate agents-leave your name everywhere! Thanks to ebay (do I wave my pom poms here?), I sit on my butt, in front of my computer, and sell that 30 year supply of stuff in the basement and in the 2 car garage, that once drove my kids nuts! (Wow, has their prospective changed!) But then we old-timers have the "Right Stuff"! don't we? (Hello Shosh, old friend!)
 
 hcross
 
posted on August 30, 2000 06:50:08 PM new
I don't bother them over payment either. If they do not respond to one reminder and pay within a few weeks, it is time to move on. I have left very few negatives, and that is only when a buyer is playing me for a fool or stringing me along.

I do not understand the rush to neg the buyers so quickly. I have a very good friend who has 20 negatives on a feedback of 600. All retalitory. She negs if not paid for within 10 days. No amount of pleading can make her change her mind, and she will not listen and see that she loses customers. How many people go back and see that these are retalitory negs? Probably not many, they see 20 and back right on out.

The people with the harsh "my way, or the highway TOS", I don't need them or their items. I am sure there are many others who feel this way also. If this is the way they run their internet business, I can just imagine how they do in real life. Not someone I want to buy from.

You do hear people say, "this is how I make my living" and it has to be that way. It doesn't, this is my living and I do very well with it. Heather
[ edited by hcross on Aug 30, 2000 06:51 PM ]
 
 networker67
 
posted on August 30, 2000 08:31:21 PM new
Myself I have never sold at the shows and flea markets. But I have spent a lot of hours at those shows with the wife. I am a business person by profession. I at times seem real adversarial when I post to certain threads. I guess I just hate to see people fail at something that if you apply a little work and ethics you can turn a buck.

ebay for many in its community is a God send. Heck it has given many a person a shot at the American Dream. I guess because it can appear to be so easy that it gets so complicated. I suspect the ranks will thin out a bit when the DEVIL The IRS decides to get its due. Because a lot of cash changes hands in this commerce medium and judging by the attitudes of so many sellers. I would bet my life that less than 40% of them have records of what they did.

 
 raglady1
 
posted on August 30, 2000 09:39:44 PM new
What a refreshing topic! Its so nice to hear from people with experience in selling in other venues besides ebay. I have been selling antiques and collectibles for a long time myself in my own shop, malls, shows, etc, etc, and I agree that ebay is the easiest way, the work is there no matter how you do it, but this is easier. I think if some of these people had to pay $1,000 for a booth at a big show and then another $500 or so for a hotel plus gas, tolls and meals, they would appreciate what they have with internet selling, not to mention theft, breakage, bad checks, show promoters whose egos are bigger than IBM, they wouldn't complain about the small stuff.

 
 Libra63
 
posted on August 30, 2000 09:47:47 PM new
What I would like to know is how to keep things straight after your auction is over. I had 17 on in one week and I was so tired after that I have decided that that is to much then I go into a seller that has 25 pages of auctions wow, I just can't imagine doing that business you must have to have either a rather large area or lots of help. God Bless those sellers that can do that many auctions and not screw up. I guess I never will be one. I have a very leanient TOS because I want my buyers to also have a life.
I do send a reminder though but it is a very calm and cool one not intimidating. I wish I would have started selling earlier. I make more in one week than in a month at my mall space and ebay is a lot cheaper. I guess my mall space is my storage area. I don't know if I am doing right but I do not deduct my expenses, cost of article, etc. I just add the total to my income, but I do keep all my receipts just in case. I don't consider my selling a business I only sell enough to pay for my insurance. I am retired.

 
 Shoshanah
 
posted on August 30, 2000 09:49:53 PM new
Hey! glassperson...Waving at ya...
You mentioned the Antique Trader...That is the paper which brought me where I am today...so to speak...There was an ad for a China Repair Class in Pines, Arizona...I put an antiques dealer friend of mine in my shop and took off for Arizona. I now restore at home, and go online for breaks...instead of breaking my back...I was doing between 25 and 30 shows a year, plus small out-doors local ones...Furniture, Porcelain, Art Glass...Oy!...
********************

Shosh
http://www.oldandsold.com/cgi-bin/auction.cgi?justdisp&Rifkah

http://members.ebay.com/aboutme/rifkah/

 
 edhdsn
 
posted on August 30, 2000 11:24:31 PM new
Shosh:
Glassperson:

As sellers we got our start using some of the old Tags. We started buying Barbies from Collectors United, and reselling them in Barbie Bazaar at 3 times the price. It was easy then 1990, as Barbie was hot, and it took 3 momths for the Barbie Bazaar ad to hit, so our items were considered Values.

Glassperson:
"
Remove I do not do International sales" and replace with "International Bidders please contact me for shipping charges prior to bidding, as the cost of shipping is high."
So you have to spend 5 extra min. on the form. You still stand in line to ship.

Sign up for billpoint, cost to seller 5%, or bidpay cost to seller 0 the buyer pays all fees. Funds from billpoint hit your checking account in 7 days average. Bidpay will have a Western Union Mo at your home about the same time. By the way no charge back at bidpay.

Depending on the item send them the info, I use billpoint on the low end, and bidpay on the high end, did $3000 in international sales in the last 60 days.

Ed
edhdsn
 
 edhdsn
 
posted on August 30, 2000 11:44:25 PM new
yisgood:

We buy alot on the internet, and if I see a 2 page TOS. I hit the back button. I only deal with folks that feel they did such a good job on thier item, that, there will be no if any problems. they givr me information, not a book of rules. I have had 4 requests for a refund in 3 1/2 years. Told one to reread the item Disc, he agreed and kept the item, refund offered but shipping costs back were high. Told him I would refund but do to his error he had to pay shipping, or I would send him the ad and pics and he could reauctuon it. Sent him the pics and ad but never saw the auction if he did. Bought another Item from me 6 months later.

Two were so nasty I took the neg, one so nuts I refunded Asap. ed
Ed
edhdsn
 
 vinjunk
 
posted on August 31, 2000 12:08:22 AM new
Nice thread....I often wondered why so many complaints as I found it to be so much cheaper and easier selling on the net. I still like the shows, but I can "choose" to do them or not.....I use to sell in the cold,heat,snow and rain. I have had enough of being soaked and freezing or roasting! I sold in NY and loved my customers but I don't miss going in at 3am and setting up at 5am! I have been in the business for over 30 years and I love it.....the net dried up alot of shows and centers but auctions seem to be picking up...all those new ebay sellers!
You have to adapt, the net has given me so much freedom and of course....a steady income!

 
 edhdsn
 
posted on August 31, 2000 12:17:31 AM new
Libra63:

If you are a ebay only seller AApro by blackthorne is the best. So good ebay purchased the company before he expanded the product to work on all auction sites. You can find it under sellers tools. The bast auction software I have seen from start to finish. Now a Ebay only product.

Ed


edhdsn
 
 graysi
 
posted on August 31, 2000 08:11:39 AM new
I spent years at work analyzing other people's businesses before it finally dawned on me: "I could be making money for myself!" I then started doing swapmeets, etc., trying to figure out "my business." I've been in business for over 10 years.

Yes, you are right. Selling on the Internet is cheap compared to other venues. There are drawbacks, however. It is time-consuming and not always as nice as being able to purchase something in a store and take it home immediately. Also, in a store, you are able to touch and feel it and actually see what you are buying. (I still sell out of a store, obviously, and I'm glad I do.)

I would also agree that some Internet sellers have unrealistic expectations. For some reason, they think they can select buyers, versus the buyers selecting them. It doesn't really work this way. Granted, some of us sell unique merchandise -- still, if you make it too hard to buy from you, buyers will find another seller to buy from.

Checks and other forms of payment can be "no good", merchandise gets broken and stolen, it costs to sell -- these are factors in any businesses. There is no such thing as a free lunch.

P.S. Regarding international sales. I would agree with the person who said it was easy and worthwhile. I can't believe the number of international sales I have made, and it's really easy. What's the point of being on the Internet if you don't use all of its best features?

 
 highway66
 
posted on August 31, 2000 08:39:00 AM new
I hear you loud and clear. I did the show curcuit for a few years and its not an easy way to sell things. EBAY is cake. Where else can you find just about anything under the sun or sell almost anything, sitting in the comfort of your easy chair. Its a very interesting experience. Sometimes profitable, sometimes not so.......But its ALRIGHT !

 
 tattoonana
 
posted on August 31, 2000 09:16:36 AM new
Ed: The best thread I have read in weeks.
For a few years, I sold at the the flea market or fair grounds EVERY weekend. After awhile your items become so ragged from all the packing and unpacking, handling and re washing, getting rained on, ect. that you couldn't give them away. And as Glassperson could probably tell you, there is the accumulation of chips and cracks that occur from things being knocked over or sat back down too hard,ect.
Now all my stuff is safe and sound, gets washed once, gets packed once with great care in bubbles and peanuts.
And about checks, at the flea market you do not have any previous feedback to look at or the luxury of holding items until a check clears if you so wish. Also way out in the woods at the state park trade days, no body could pay me by credit card (PayPal).
Not to even mention The times I went 8 hours without a bathroom or lunch break. And you knew you had to go back the 2nd day because your stuff was out there, your site was paid for, Tattoogranpa was at work and it was pouing down rain!!!!
Another thing I haven't seen mentioned, I am toooo soft hearted face to face. I let way too many people talk my prices down, especially other dealers. And basically I am not a good salesperson face to face. Too quiet .
The biggest drawback I have faced selling on eBay is that it allows me to be too lazy. Even now, my intentions were to sit here and list things and you see what I am doing instead.
Thank you Ed.
Tattoonana.
 
 networker67
 
posted on August 31, 2000 09:16:55 AM new
edhdsn - Well since you started this thread I took a few minutes yesterday afternoon to actually compute the start-up cost of doing business on ebay. I mean serious real business, I did the calculations as both a profit center of an existing business and for the total newbie starting out fresh.

If you have an existing business

Equipment
1 - Personal Computer with minimum 64MB RAM, 2GB Hard Disk, Graphic Card with 4MB video memory, VGA Monitor, 33.6 or 56k modem.

1 - Additional Phone line in your business dedicated to the computer can be shared with your fax

1 - Reliable internet connection.

1 - Scanner and or 1 digital camera.

Assorted software to include, Photo editing software, word processing, spreadsheet program.

As you build the profit center To stay competitive I suggest the following.

1 - Internet Site for your operation alone.

If you are starting from nothing

Everything listed above.

Source for packing materials.

Source for continued inventory.

[i]All web sellers should consider programs to automate as much of the process as possible. Additionally if you know your diction and writing is a little off visit your local community college and take a business writing class. If you have no concept of the basics of business take a basic accounting class. In that basic acconting class you will learn. How to set up the books, basic inventory accounting, payroll if you continue to grow, and most importantly basic tax things.

[b]Placing a price tag on that you need I come up with about $2,500.00 to start the profit center right.

 
 graysi
 
posted on August 31, 2000 09:25:08 AM new
networker67

Since you did all that -- here's a question for you. What program would you suggest for someone who wants to computerize their inventory?

I have a manual system I've been doing for years, but I want to put it on computer. Unfortunately, each item is different.

Any suggestions? Should I just put it into a spreadsheet?

 
 overworked
 
posted on August 31, 2000 09:46:55 AM new
I did antique shows for over 25 years, and am quite frankly glad I found ebay 4 years ago. A very nice respite from "hauling and haggling"

 
 melodie
 
posted on August 31, 2000 09:55:25 AM new
I've been selling antiques and collectibles on Ebay for almost two years now and I done really well.This summer has seemed to be even slower than last summer though and I've had a couple of booths in an antique Mall and have done lots better doing this.I'd try it on Ebay first and then if it didn't sell I'd put it in my booth,always did much better.I'm going to try on Ebay again after Labor Day and see if it's better.It seems the prices at estate sales and auctions where I find most of my things has risen almost out of sight.I guess a lot more people are doing this now.It's really getting hard to make much of a profit.I've noticed this has really changed in the last few years.Hope everyone stays cool.Way up over 100 again today here in MO.

 
 dave_michmerhuizen
 
posted on August 31, 2000 10:08:57 AM new
Libra - next tax time, try filling out IRS form Schedule C. You don't have to decide to use it, just fill it out. This is where you declare your profit and loss from a small business.

If you just add your takings to your income you are short-changing yourself. On the schedule C you declare your revenue, then you declare all your costs. listing fees, FVF fees, ISP payments, packing materials (if you don't charge for them), bad debt, gas to the PO, etc. (all the things some people call handling...) It's only what's LEFT OVER after that that you add into your income.

And here's something everyone will want to look at. A nice thing you can do now is you can expense up to a few thousand dollars of what would normally be capital expenditure. In other words, a large purchase (especially one with a hard disk and monitor, if you get my drift), would usually have to be declared as an asset and depreciated over time - a big hassle. Instead, you can just take this as an expense in a single year. It's worth it!






 
 edhdsn
 
posted on August 31, 2000 10:44:02 AM new
melodie:

There is a cost I failrd to mention. Replacing inventory.

I can not count the number of time, that I have repurchased something I have sold. When we did everything face to face, I would always let folks know I purchased collections.

Now with everyone getting in to the market as selllers, The estate sales, and auctions seem to not only have more folks willing to pay more, but the quaility of smalls, has gone down.

I have been able to restock some by buying items in slow venues, or when a seller has misspelled the name.

So now that you are on the internet, where will you go once the garage is empty?

Ed
edhdsn
 
 melodie
 
posted on August 31, 2000 11:13:16 AM new
Ed,
That's just what I've been thinking.The prices have been going higher at sales than what they've been selling for on Ebay.Unless you find something rare or unusual it's hard to make a profit.I used to be able to find things a lot cheaper here in the midwest and sell on the west coast but not as much now.I think I'm going to be forced to slow down because there is so much competition out there.

 
 yisgood
 
posted on August 31, 2000 11:23:58 AM new
This really ought to be in another thread, but I have found that due to activity I would consider "shady" by some ebay sellers, certain items can not sell for a fair price. In the computer and digital camera department, a lot of sellers are posting refurbished items but putting "NEW" in the description. Then you poke around a long post and find "refurb" or "RFB" hidden somewhere in the text. In the meantime, buyers check the listings and decide that the price they are asking is the fair price for this item. Then along comes a seller with a really new item and he cant even get what it costs him wholesale.
Just as an example, take a look at computer monitors. I did a search yesterday and all I found was 17" monitors going for about $100. You know these are all refurbs. I wont even go into why it's a bad idea to buy a refurb monitor. But try to sell a new one and no one will bid much more than $100 because they check ebay and decide $100 is a fair price. I have even had people email me after finding my web site and saying "You want $175 for a monitor? They're selling on ebay for $99." They cant understand that there's a difference between a used one with a 30-90 day warranty and a new one with a 3-5 YEAR warranty.
Toshiba PDR-M5 digital cameras sell in the high $500 range on discount web sites and even a hundred dollars more on some. But on ebay they dont even hit $500 because of all the competition from the refurbs. Up until today, the new ones had $100 rebate, the refurbs didnt. So a new one at $500 was a better deal than a refurb at $400. Now (unlike monitors) there is nothing wrong with refurb digital cameras, but why can't the sellers say this up front instead of trying to fool the bidders?
Sorry, just had to let off some steam.

 
 edhdsn
 
posted on August 31, 2000 11:40:52 AM new
melodie:


Some folks are reversing the cycle. As it seems the buyers at shows are willing to pay more. Some dealers are using the internet as a source of inventory. High end items only. Ed
edhdsn
 
 edhdsn
 
posted on August 31, 2000 12:11:27 PM new
yisgood:

Your view point is wanted and needed. Its part of paying the price of selling on the internet. I invite everyone to post. I did not mean to set the tone that this was for antique and collectible sellers only. Thats my area of expetise. So my comments may slant that way.

We have a similar problem with new reproductions. Often sellers hide the fact that a highy prized collectible has been reproduced, and when someone searches, they look at the first line and price. Not bothering to read the total discription, and get a very misleading idea on what a item should sell for and why.

Your points are very valid. And thank you for stating them.

Feel free to continue. Let us know how you try to combat this type of misunderstanding.

Ed
edhdsn
 
 networker67
 
posted on August 31, 2000 01:07:48 PM new
graysi - Most of the off the self programs do not addess the particular needs of an antique dealer, card seller, comic book seller, coin dealer, etc., and so on. The problem for this type of seller is most of the inventory is unique and not purchased or procured in significant quantity. Coupled with the fact that once it is gone/sold it is not likely to be replaced with the identical item for a future sale. So that makes practically makes the inventory feature of those programs turn more into a nuisance than an efficent record keeping system for automation. Unless of course you don't mind sitting down entering all your inventory into the inventory database of the program. Well here's four solutions that I would recommend.

Use One Write Plus and set a date to start placing all the new inventory procured into the accounting system. When that date arrives all of your inventory bought goes into the computer and you slowly phase out the manual system without completely switching al at once. However going to a straight computer system means you will have to regularly back up your hard disk that contains the data incase of a virus or other computer problem.

Build a simple Access database, if I am not mistaken Access comes with a template for inventory tracking. If you take the time to learn the programming features of Access you can build a custom database and have it merge into an excel spreadsheet for all of your reporting. If you don't want to enhance your computer knowledge can take a lot of time. Here's what I did, if you are lucky enough to have a College nearby, place a posting on the job boards in the Computer Science Department. Pay one of those aspiring Computer Professionals to build you a custom information system, they'll build the database, build the merges, and create custom templates for emails, EOA's, etc. Heck if you find a good damn good one. They will even build scripts to extract many of the merges from ebay's system the same way ebay's Click on seller's other auctions and the such work. You will be surprised how cheaply they will do it just so they can pad their resume with the line "Built a custom internet business information system for XYZ Collectibles". Heck a dream system would extract the needed info from ebay's systems, and become your central point for all your needs, it will use the inventory description to be the auction title. It will contain the item descritpion for use in the auction, contain the start price for the auction, etc. and so on. Make sure you retain the source code and all licensing rights from the work. You'll need those if it fails at some future date and you need student number two to fix it. Mine has been working for three years without a hitch.

Method Three - Excel Spreadsheets, Here's what you do. Use the Spreadsheets as the central datastore. Create a book with three to four sheets.

Sheet One Inventory
Column A - Item or inventory
Column B - ebay auction number
Column C - Cost to procure item (Cost of Goods Sold) on your books.
Column D - Final sales price with shipping.
Column E - Revenue Earned. C minus D automatically.
Column F - Shipping Cost.
Column G - Gross Item Profit. E minus F automatically.
Column H - Item Listing Fee
Column I - Pre Item FVF Profit G minus H.
Column J - FVF for Item
Column K - Net Item Profit I minus J.
Total the Rows monthly and call the row total total for the month of.
That spreadsheet with the calculations tells what you made from each item. The Column K where you total it monthly becomes the revenue for the month on your income statement.

Sheet B Income Statement.

Column A - Accounting item
Column B through L The 12 months.

Row 1 Monthly Revenue - Column D from Sheet A.

Row 3 Expenses - Nothing Accross.

Row 5 through whatever - Your individual expenses.

sample Row 5 = Shipping Expense column F on sheet A each month.
Row 6 = listing fees column H from sheet A
Row 7 = FVF fees column J from sheet A
row 8 = isp fees new entry.

add a row for each expense. Skip a row when done and call it total profit /loss.

you get the general ideal. Then you total do the math and you know what you made and what you spent to make it.

Sheet C Balance Sheet
Columns A though l the 12 months.
Row 1 Blank.

Row 2 Assets in bold type.
row 3 blank.
row 4 - Equipment in business its value no depreciation.
row 5 - Cash how much cash in the business at that time.
row 6 - Value of Current Inventory. Total of Column C sheet A for each month of sales.
row 7 - value of supplies on hand.
row 8 - Monthly Income Final total from sheet B.

row 9 - Blank

Row 10 - Liabilities in bold type .

For most ebayers this will be blank if you owe money on your inventory or borrowed to get started that goes here.

skip the row where your liabilities if any end.

Next row after that Bold type owners cash withdrawals. What you withdrew from the operation for yourself each month.

Skip a row

Total Equity in your ebay business. In short what your ebay business is worth. Disclaimer: This is a generalization and not an exacting business model however it gives the general ideal of what to do. At the end of the year when it is time to do that schedule C everything else falls into place That includes the auto depreciation and the other what nots of running your business. It works even better if you start using one of those tax programs to do your taxes.

Hope this helps.............

Oh yeah the fourth method modify your current manual system to look like the above and keep it in a journal.




[ edited by networker67 on Aug 31, 2000 04:58 PM ]
 
 dave_michmerhuizen
 
posted on August 31, 2000 04:12:18 PM new

 
 Libra63
 
posted on August 31, 2000 07:23:04 PM new
Network67-How long does it take you to do the book work? I got tired just reading it. I suppose if it is your primary business you have to do things like that. I have kept all my receipts but I don't keep my mileage, but this was my first year I really haven't gone out looking for merchandise. I usually just visit the thrift shops and sometimes an estate sale, but rarely. I have enough to sell for quite a while so I had better do that before I buy more and if I run out then maybe I can quit. I have been selling many years and I think that I am ready to quit but can't out of need. As I previously said my health insurance is out of this world and my medicine is the same and Social Security doesn't hack it. I sure hope that all this internet selling stays around for awhile anyway. Yks ebay was just advertising on TV with Visa. This is very enjoyable reading and quite a learning thread. Thanks Ed

 
 edhdsn
 
posted on September 1, 2000 08:32:43 AM new
networker67:

I love your posts on how to set up a viable internet business!

I would make only a few changes for the antique and collecible seller.

Equipment: You need both a camera and a scanner. I scan all of my smalls, as a good scanner picks up all the details. I purchased solid color fabric squares in 6 colors and drape the fabric over the piece to replace the lid. Buy a full yard, donot be cheap, as you can use this so you can have the same back ground for both pics and scans see my yahoo auctions under edhdsn the Peter Pam one shows how you can combine both camera and scan pics.

Have an extra hard drive installed, as large as you can. Store all of your pics and discriptions on this, so it can be removed in case you have to replace your system, also it becomes a great reference tool over the years.

Ed
edhdsn
 
 edhdsn
 
posted on September 1, 2000 11:36:17 AM new
networker67:

I want to bring forward the cost of selling commodities on the internet.
I was thinking about upgrading my laptop, so in search, I typed in "new ibm thinkpad" Found prices all over the board. Until I looked at a lot of descriptions, I found 6 levels of new!

New: Current item. Never used mint box never opened. Full warranty from IBM

New: Current item : Factory second, blemishes ect full warranty

New: Current item: Display model out of box full factory warranty

New: Discontinued mint in box older features full warranty

New: : Factory refurbished current tech full warranty

New: Factory refurbished discontinued limited warranty

So how does a seller show value in the search, with a 45 space title, if selling brand new current never used items, when all of the lower priced items show under new?

Face to face was easy. I sold apliances at Sears.


Ed

edhdsn
 
 networker67
 
posted on September 1, 2000 12:29:20 PM new
edhdsn _ I posted an earlier reply and it seems to have gotten lost in cyberspace. That is hard to say, I think the problem is abuse of the search engines. And the desire to position the item where it can seen by the most viewers.

Libra 63 - I replied t you earlier too it seems to be missing. The spreadsheets once set up and running are a breeze to manage. The hardest part is setting them up and using them.

The inventory sheet is updated when I place an item in inventory. I add the other data as I aquire it. Like the auction number the shipping cost and the fees to list and fvf when I get my invoice monthly. If you look at the income statement or sheet b most of the enteries are stagnant or never change, like the phone charge for the computer, the isp charge, the electric, etc and so on the only entry that is different is the shipping expenses, FVF's and list fees which all come from sheet A.

The balance sheet well the equipment is fixed unless you add new equipment to your business then you just increase equipment by that amount. The supplies decrease as you sue them and increase as you buy more. You get the monthly revenue from sheet b and you knwo what you took out for yourself. What's left is what your enterprise is worth from a tangible perspective. Now the intangibles like value of feedback to your rating your good sellers ebay user name and so on are hard to affix a set value.

Keeping a true accounting system helps you measure your success and shows you areas to cut costs. If you add the categories of listing day and listing time to your inventory sheet you can them measure when is the best time for you to list your auctions for the most success based on past performance. A business information system provides so much information to effectivel and efficently run your operation I have yet to fanthom why more ebayers don't use one. But I know that answer they work on the cash in cash out method. They fail to grasp that the bsuienss is a seperate entity with its own bills and so on. At the end of the year they have no ideal if they made some money from their time or if they just broke even. Then at tax time the all want to claim business deductions for the activity.

The IRS should add a block to the Schedule C fortype of business for ebay seller. Then everyone that checks the box for that year gets audited. Boy I bet the money collected on that money would most certainly bail out social security.

 
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