Thursday, August 4, 2011

Update on eBay Outright Accounting Software

Many eBay sellers and Outright users are about to be positively affected by a big change. Beginning later this week, Outright sellers will be able to automatically integrate transactions from PayPal AND eBay, meaning that Outright will import your eBay transaction details AND shipping costs automatically for the first time ever.

A survey we conducted in April showed that Outright users were saving an average of 5 hours per month on bookkeeping. This change will help users save even more time as now they don't have to manually enter shipping costs!

Historically, customers had to choose between importing from eBay or PayPal, because using both would have created duplicate transactions. Some users chose to only use PayPal, and for them, everything should remain fine. For those importing only from eBay, you will be presented with a choice to add PayPal as a source of data.

Here's what it means when you add PayPal:

1. You will now get shipping costs to go along with your sales and shipping collected information, giving you a more complete picture of your business without the extra data entry. This will only apply to sales that occur going forward - we won't be importing historical shipping costs, for fear of creating duplicates. Click here to learn more.

2. You will also see the outstanding fee balance in your eBay account (it will be listed under "Money I Owe" on the Overview screen,) and be able to drill in to view the fees there. More information can be found here.

3. Going forward, in addition to the individual eBay fees, you will also see the total monthly amount paid to eBay. Those transactions will show up with the category "Transfer", which means it's just movement of money between accounts, and does not impact your profit and loss. Your individual eBay fees will continue to show up as business expenses.

4. From the day you choose to add PayPal going forward, your shipping costs will show up under a new category called, surprise, "shipping costs." If you have been tracking shipping costs manually, and have another category name, you can choose to merge the two using a simple process outlined here.

5. If you use your PayPal account for non-business related expenses, those transactions will also be imported. To quickly and easily remove them, use our "multi-edit" feature described here: and change the category to "personal expense."

Post a Comment