Selling on eBay and personal Taxes

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Canada Canada
haberdine
Kudos: 135
Joined: Mar 2, 2005
Selling on eBay and personal Taxes
5 Jul 2005
Hi, I wonder if anybody knows a good software for filing personal taxes. I am from Canada and there is none on the market. I realize that there are some differences between UK and US, but I think basics should be the same. So far I found only 1 seller on eBay from US who sells Accounting software (US$25). Anybody tried it? What they offer is to download the data from PayPal and transfer it to Excel or similar program. I probably can do it myself, but I don't want to spend my valuable time trying figured out how to create custom form.
I was watching his sales for 1 week: he/she sells this software well. But I am not sure if it worth to spend even $25. They have no legal contract with eBay.
Accounting Pro from eBay works only with QuickBooks, and I person. don't like this program - too big and too complicated.
Any ideas? How do you file your tax return forms?
Herts, England United Kingdom
Andy
Kudos: 11,661
Joined: Jan 1, 2001
Re: Selling on eBay and personal Taxes
5 Jul 2005
Hi haberdine,

Downloading from PayPal to Excel is pretty easy. At the PayPal site click on the 'History' tab then click 'Download History' at the top right underneath the bold text 'Reporting Tools', choose a date range and set the file type to 'Comma Delimited' to get a file that you can load into Excel or another spreadsheet program. You can also download a Quicken or Quickbooks compatible file from here. Perhaps Quicken would be better for you, it's not as complicated as QuickBooks and might have all the features you need. Both are made by Intuit. Intuit Canada.
Andy Geldman, Web Retailer
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Canada Canada
haberdine
Kudos: 135
Joined: Mar 2, 2005
Re: Selling on eBay and personal Taxes
5 Jul 2005
Hi, thank you . Yes, I found that downloading from PayPal is easy..but creating a report from my data was a challenge..I tried this already..It's not that easy as it seems...
Thank you for Intuit Canada, I will try it and report to this site (how easy it is and etc).
Canada Canada
haberdine
Kudos: 135
Joined: Mar 2, 2005
Re: Selling on eBay and personal Taxes
6 Jul 2005
Hello again,
I looked at Intuit Canada site..Good looking site, however...They have only general software to help with personal finances..Every department store is offering for sale programs like that (and even cheaper). Yes, they mention on the description page that their software will help with customer small business (such as web-service and etc).
But there is not a word about selling on eBay. Yesterday, on TV show, representative of eBay said that there are 460,000 sellers making living of eBay, plus huge amount of people doing it on a part-time basis.
It's easy to retrive the personal data from PayPal. But there is no software to convert this data into all-inclusive ready to use report for taxes (cost,price, fees,expenses=profit). Yes, I know that I can use management software to create such report.. But why to invent the bicycle? This software should be on the market for at least 5 years?
If anybody is using ready-software for such purposes?
Herts, England United Kingdom
Andy
Kudos: 11,661
Joined: Jan 1, 2001
Re: Selling on eBay and personal Taxes
14 Aug 2005
Hi haberdine, I think the software you found on eBay is Auction Accounting Pro. It has now been added to the site.

I haven't tried it myself (there isn't a trial version) but it is pretty cheap and it basically does what you want - turning the PayPal export into usable sales and expense data. Non-PayPal sales can be added manually. I would check with the developer that it works with Canada though.

A company called Oyster Software is bringing out an eBay/PayPal compatible accounting program called Trident which may be helpful. It will be in the newsletter when it is launched.
Andy Geldman, Web Retailer
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