Tracking product sales

MLDSandler

Long time Quicken user, first time doing anything with ebay. My husband is selling items on eBay. I already created an account to track cost of inventory. My question is - what type of account should I be creating to show the SALES? It's been ages since I used Invoices. I just want to track who bought it, original item/price, cost of shipping materials, and sales tax collected by ebay so I can have some sort of bottom line report to show how much he's actually making. Thanks in advance!

Frankx

Hi @MLDSandler

Can you tell us which version of Quicken you are using (hopefully it is Home, Business, and Rental Property)?

You'll need to record sales to a "Customer Invoices" account.  You will be able to track all the items that you list above and the reporting features will also show the profit as well as a lot of additional information.  If you are not currently using the "H,B & RP" version, you can upgrade your current version from right within the Quicken application.  Just go to "Help" > "My Quicken Account" > then go to the "Subscriptions" card and hit the manage button.  You'll be able to upgrade from there.

Let me know if you have any followups.

Frankx

MLDSandler

Sorry, I am using Quicken Deluxe subscription for Windows.
I will look for that path. Thanks!

Frankx

Hi again @MLDSandler

I just thought that I would clarify my comment above.

While I presumed that you had been using the Quicken Home, Business and Rental Property version of Quicken in my response above, I want to be clear that it is possible (although more difficult in my view) to record the types of transactions you are now going to have to deal worth going forward, while still using a lower level of Quicken (including your current version) to track such transactions.

That being said - my considered opinion would be that using Quicken H&B will be more efficient and effective.  Please get back to me if you have any followups.

Frankx

NotACPA

But NOTE, that no version of Q can track INVENTORY.  The cost of the items in inventory, Yes ... but not the quantities/items in inventory.

MLDSandler

Understood - but with a little extra work on my part - I can track inventory.
Not sure it matters but I see stuff in signatures, I have been using Quicken since v2 for Windows 3.1. I got it free when I worked for a reseller. :)