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Chapter 30. Making a Living from eBay > Tracking Revenues and Costs

Tracking Revenues and Costs

Every business should keep detailed records, and your online auction business is no exception. Whether you use an auction management service that offers report generation, a financial-management program like Quicken, or your own homemade spreadsheet or database, you need to track what you're doing.

In particular, you want to track unit cost and final selling price for every auction you list. You should also track all your ancillary costs—shipping, PayPal fees, eBay listing and final value fees, and so on. By tracking all your costs and revenues, you can generate an accurate profit and loss statement, and thus determine how much money (if any) you're generating from your online auction activities.


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