Auction Accounting Pro

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General Information

Auction Accounting Pro was designed for the eBay seller who sells on a regular basis and considers their selling as a business. Auction Accounting Pro generates net income with no details regarding profits per auction. This is the easiest and quickest bookkeeping method.

If you sell part-time and just need software that will generate simple profits then our software Auction Tracker may be a better fit. Auction Tracker requires more data entry but the results produce profits per auction.

Some full-time eBay sellers purchase Auction Tracker as well as Auction Accounting Pro simply to be able to review more details regarding profits per auction.

Screenshots

We have created the screenshots below so that you can take a tour of the entire program. Displayed below is the Menu screen. The Menu is displayed each time the program is started. It is very easy to access any part of the program with the Menu buttons.

The Expense Journal

The Expense Journal is where all expenses are recorded. Auction Accounting Pro allows you to create up to 19 expense accounts and contains three preset accounts: Shipping Expense, Ebay Fees, and PayPal Fees.

Auction Accounting Pro operates on the cash basis of accounting. In a cash accounting system expenses are recorded when they are paid. This makes accounting easy and can reduce data entry. For example, in the last transaction below the bookkeeper received a UPS statement for accumulative shipping charges for the last 30 days. When the bill is paid the amount is recorded into the Shipping Expense account.

The Sales Journal

The Sales Journal allows you to create up to five sales accounts. In the screenshot below there are three sales accounts shown in the last three columns on the right: Ebay Auctions, Ebay Store, and Amazon. The first six transactions below were from Amazon and were entered one at a time when the sale took place. The last two transactions were from eBay auction sales and eBay store sales and were entered as a monthly total. These totals came from Auction Tracker and Store Tracker (not included in purchase.)

The left half of the Sales Journal is where shipping, sales tax, and cost of goods sold are entered. (Cost of goods is simply the amount you paid for an item.) The sales tax field is manual entry. Ebay and PayPal calculate sales tax for you, you simply enter the amount into the Sales Tax field.

Short Cut for Recording Sales

If you want the easiest method for recording sales, the Auction Accounting Pro user's guide will show you how to download all PayPal sales directly from the PayPal website. (This is not a direct import, you must log into PayPal and download your sales history from their site. This download will be created in a spreadsheet file where PayPal sales, PayPal fees, sales tax, etc. can be easily totaled and then entered into Auction Accounting Pro.) This can really reduce data entry.

The Purchases Journal

The Purchases Journal is where all goods that are purchased to resell are recorded. Simply enter the information and the cost of the items purchased.

Cost of Goods Sold

Calculating cost of goods sold is probably the most misunderstood aspect of accounting. It is important to understand that only merchandise that has been sold can be recorded as an expense. Merchandise sitting in a storeroom that has not been sold is considered an asset.

The Purchases Journal does not record goods purchased as an expense, it simply records the amount of merchandise that has been purchased for the fiscal year. Auction Accounting Pro calculates cost of goods sold in the same manner as the IRS requires at tax time on Schedule C. All merchandise purchases must be recorded and your merchandise inventory will need to be counted once a year on December 31st.

NOTE: Auction Accounting Pro does not operate on a perpetual inventory system. A perpetual inventory system automatically calculates inventory balances when items in inventory are received and sold. Most eBay businesses do not need a perpetual inventory system.

The Income Statement

The Income Statement produces net income or net loss for your eBay business. Net income is simply all sales minus cost of goods sold minus all expenses. This is the information needed at tax time to complete Schedule C.

Note in the screenshot below the area shaded in white on the left hand side. This is the body of the Income Statement. All statistics displayed here are updated with every transaction. You will always know the bottom line of your net income at all times. Percentages of all sales and expenses are displayed as well. The Income Statement can be printed at any time.

To the right of the Income Statement is the Current column. This column displays statistics for the current month only. The example below displays all data entered by the bookkeeper for the month of January. On January 31st, after all transactions for the month have been entered, the bookkeeper will click on the Close button under the January column (as shown below.)

After the bookkeeper clicks on the Close button for the month of January, all January statistics are posted to the month of January. Notice below that the Current column is now blank. The program is ready to start calculating accumulative totals for data that is entered for the month of February.

Charts for sales and expenses are created as seen below:

The Customer Database

The customer database stores all pertinent information regarding your customers. This database can accept manual entry or you can download this information from the PayPal website and copy and paste into Auction Accounting Pro. (If you are not familiar with copying and pasting do not fear, it's an easy task and the user's guide will lead you every step of the way. One month of customer information is pasted in just a few easy steps.) This is a big time saver!

The database can be customized and set up with any number of fields you want (such as address, phone number, email address, etc.). The database can also be sorted and alphabetized by any field so that specific customers can easily be found.

The Customer Invoice

Auction Accounting Pro has the capability to print invoices. Either manually enter the customer's name and address, or, if the sale came from PayPal, copy and paste from the PayPal email you received. Enter the items sold, cost and quantity, and the invoice totals will automatically calculate. Your company logo can be inserted into the invoice.

Sales Tax Payable

Auction Accounting Pro calculates sales tax owed to your state and can handle quarterly payments. Taxes owed are derived from the figures that are entered into the Sales Tax field within the Sales Journal.

Income Tax Deductions

Auction Accounting Pro gives you income tax saving tips and includes a journal to record home utility expenses and mileage write off. These expenses are tax deductible when conducting a business from your home or if a personal vehicle is used for business purposes.

Important Information / System Requirements

Please read the following information carefully:

Auction Accounting Pro requires Microsoft Excel to run. Your operating system (Windows XP, Vista, etc.) is not relevant as long as Excel is installed on your computer.

About MAC Computers: Auction Accounting Pro will run on MAC computers as long as Excel is installed, however, it has been reported to us that Excel 2008 does not support macros which is needed to run Auction Accounting Pro. Feel free to email us for a test file. We will send you a small Excel file so that you can be sure the software will run correctly.

Please Note: All of our software is password protected and cannot be modified except for where custom changes are permitted. This is to protect you from damaging the program.

A Word About Macros: Auction Accounting Pro contains macros. Macros are small programs that enhance Excel capabilities. Your macro setting in Excel will need to be changed to the LOW security setting to run our software. (This is easy to do and we explain how it is done.) Microsoft, by default, warns users against lowering the macro security setting because macros can contain viruses. We guarantee there are no viruses in our software. Lowering the macro security setting plays no effect on receiving any other viruses unless you were to run another Excel file with macros. Antivirus software can be ran on Excel files to check for viruses.

Ordering and Shipping Information

Electronic Delivery

We do not charge shipping and handling as Auction Accounting Pro will be sent to the email address you have on file with PayPal. You should receive the program in your email within 12 hours. After 12 hours please check your junk and spam folders, and then email us and provide an alternative email address if possible.

CD Purchases

If you would like the CD of Auction Accounting Pro simply add a CD to your cart for $4.95. This will need to be completed on our Home page.

If you purchase multiple programs from us we will combine all software on one CD. If you own a CD burner you can easily burn the accounting programs to a CD, the additional CD purchase is not necessary. Auction Accounting Pro will be emailed to you even if you buy the CD, unless you specify otherwise.

Payment Information

We accept PayPal, money orders, and cashiers checks. Personal checks are also accepted but may be held until cleared. Payment is expected within 10 days.

Kansas residents are subject to 7.525% sales tax.

All sales outside the U.S. MUST pay with PayPal.

Return Policy

Please feel free to ask as many questions as needed before purchasing.

Please review this ad carefully so you will know exactly what you will be receiving. We have created an extensive ad showing nearly every screenshot of this program along with detailed explanations. All of the functions of this program are listed in this ad, the program does nothing more and nothing less. If there is a mistake in the ad description we will fix the problem. If the problem cannot be fixed we will refund you completely, otherwise all sales are final.

Check out our feedback. We have had more than 1700 happy customers!

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Thanks for Looking!

God Bless America