Empowering the eBay Entrepreneur

For solo eBay entrepreneurs, managing your small business means juggling lots of responsibilities, from finding products to list, to shipping and handling customer service. Among these necessary tasks, bookkeeping is a critical, yet often overlooked, task. Bookkeeping can feel overwhelming and unmanageable and is often avoided until tax time. Introducing SnappyFin - a bookkeeping software designed just for eBay sellers like you. Created by a long-time eBay seller partnered with an experienced financial software company, SnappyFin is an online bookkeeping software that streamlines your finances so you can focus on what you truly enjoy – growing your business.

Let’s meet Daria, an eBay seller for seven years. Daria loves spending Saturday morning hitting garage sales, driving to church sales, and scrolling through neighborhood marketplace sites. She specializes in vintage costume jewelry from estate sales, thrift stores, and tag sales. After retirement, she turned her hobby into a business and sells her finds on eBay. Daria’s favorite part of selling on eBay is the treasure hunt for good finds and the creativity in photographing and listing the items. Her customers love her fast shipping and responsive communication. Daria’s least favorite part of selling on eBay is keeping up with administrative tasks, especially bookkeeping. She often scrambles to keep track of receipts and how much she paid for items. Her personal and business expenses are not always separated and she has to rely on her memory to sort and organize the details.

Challenges Faced by Daria:

• Time Constraints: As a solo eBay entrepreneur, Daria has limited time, resources, and interest to devote to bookkeeping. Traditional methods, such as manual data entry and paper records, are cumbersome, time-consuming, and are often lost in the exciting rush of a good find.
• Accuracy Concerns: Daria tries to keep all her receipts in the same drawer but knows she sometimes misses a receipt. She knows her personal and business numbers aren’t always accurately separated. Sometimes her shipping supplies are purchased through her personal account. At tax time, she worries these inaccuracies may cause problems for tax filing and she regularly files an extension when she runs out of time pulling together the papers needed to complete her taxes. She tried creating her own spreadsheet but finds she often doesn’t have the information needed to complete the fields and has long stretches of time when she avoids entering any data at all. Sometimes she doesn’t track a business expense just because she doesn’t remember the details, have the needed information, or is busy processing orders.
• Financial Visibility: Daria enjoys the process of finding new items to list on eBay and feels successful when they sell. However, she doesn’t have a clear sense of the bigger picture of her business and how her expenses and sales compare. She’s less aware of overall trends over time and where her greatest expenses are within her business. She’d like to see her profits grow each year to make this a viable business.
  
  Daria knew she needed a way to make tax preparation easier. She read about changes in the tax requirements for eBay sellers. Because she will earn more than $600 this year, she knows this income will generate a 1099-K for her eBay income. She hesitated to try an online bookkeeping solutions – many are expensive and complex to learn. She didn’t have the time or interest to learn a difficult system, filled with features she didn’t need. An online search pointed her to SnappyFin and she read other eBay Sellers liked how easy it was to start. Message boards looking for a GoDaddy replacement talked about SnappyFin being an affordable, user-friendly, and easy system to use.
• Streamlined Record Keeping: With SnappyFin, Daria bid farewell to manual data entry and paperwork. SnappyFin pulls her sales numbers right from her eBay account and her expenses directly from her financial accounts, providing a financial snapshot of her business. SnappyFin records Daria’s business transactions efficiently, enabling her to categorize expenses and income with ease. At tax time, Daria has the exact line items needed for her tax preparation software or tax preparer. The more she uses SnappyFin, the more it saves time with automation. Recurring transactions categorize automatically. The time saved from manual bookkeeping allows Daria to invest more energy into the fun and enjoyable parts of her business - more time sourcing and tackling that pile of unlisted items!
• Seamless Financial Reporting: SnappyFin generates comprehensive financial reports automatically and efficiently. Daria can see how her business is performing in real-time, providing a quick snapshot of her income and expenses. She doesn’t have to wait for tax filing to see her profit for the year.
• Enhanced Accuracy: As an eBay Developer Partner, SnappyFin pulls data directly from eBay. Financial accounts are linked and pull in data directly from their source accounts. This automation minimizes human errors in transcribing and increases the likelihood that tax-related documents are accurate. Daria shows her true income by documenting any expenses that were tied to her business.
• Secure Storage: SnappyFin stores Daria’s financial data securely, ensuring her financial records are safe and easily accessible from any device with an internet connection. No more drawers stuffed with receipts and desks overflowing with paperwork.

SnappyFin organizes financial data for eBay sellers in a way that is easy, accessible, and automated. Spend more time sourcing and less time worrying at tax time!