Intuit Quickbooks is the best accounting software for eBay business . It can help you manage your earnings and expenses easily. Accounting is a very important thing to do in any online business, especially small eBay businesses can’t afford paying for expensive accountant or bookkeeping software. Quickbooks is a free and easy-to-use accounting tool for ebay sellers, which not only helps you do accounting work but also simplifies other tasks such as tracking orders and printing shipping labels for eBay.
We are sharing some of the best free accounting software for eBay business. These tools will help any eBay business owner to keep track of their income and expenditures. They all can be used online or downloaded to your computer as an offline application.
Webgility + QuickBooks Online
Websitewww.webgility.com
Websitewww.quickbooks.intuit.comPrice from$8.00/moFree Trial30 Days
Best overall accounting software for eBay sellers.
Best for:
Webgility is an ideal solution for eBay retailers of all sizes using QuickBooks Online for back-office accounting. The application boasts a variety of features and automations to handle tasks from accounting and finance to shipping and inventory with application versions to work with any size retailer.
Key functionality:
Perhaps the key feature of Webgility is how quickly and easily orders can post to multiple versions of QuickBooks (Online, Enterprise, and Point of Sale), among other back-office accounting programs. This integration permits eBay sellers to sync, track and post all orders, fees and expenses directly into QuickBooks, avoiding the time and trouble of double entry. QuickBooks Online is a full-fledged cloud accounting system on its own, but when combined with Webgility’s host of other helpful functions, it’s a powerhouse solution for eBay sellers of all sizes.
Successful inventory management can be the difference between success and profit or failure. Webgility’s inventory management module allows retailers to manage a centralized inventory database using a host of pre-configured eCommerce platform integrations. Inventory is automatically updated with each sale.
Once the database is populated, retailers can track inventory through the inventory-level dashboard. The dashboard can provide information based on total item inventory or based on sales channels to avoid overextending inventory on a specific platform.
Getting merchandise into the hands of customers is essential to a successful business, and Webgility offers a feature-rich shipping and order management dashboard. Retailers process orders and ship them quickly using integrated shipping partners. Orders are tracked from warehouse to customer, and canceled orders and returns can also be tracked and managed directly from the dashboard. Refunds can be generated automatically from the portal; however, refund and dispute transactions don’t always import into QuickBooks Online cleanly. And, Webgility creates new customers in QuickBooks Online when it cannot sync to an existing customer, making the customer list a bit unwieldy for eBay sellers whose customers tend to be single-purchase driven.
One of the biggest concerns successful eBay sellers must deal with is accurate sales tax calculation and reporting. Webgility reduces this concern by automatically and accurately calculating and validating sales tax based on location for each order. Afterward, all orders are posted to QuickBooks Online with the proper sales tax applied, meaning retailers can rest assured of tax compliance regardless of sales channels.
Access & users:
Webgility offers both desktop and cloud versions and several different plans. The “Lite” plan permits only a single user, which is not ideal for large sellers. The “Pro,” “Advanced,” and “Premium” plans allow access by two users as well as additional user settings and permissions. All plans allow for multiple sales channels, which means that users who are selling on multiple platforms (such as Amazon and Etsy) or operate multiple online stores (such as through Shopify and WooCommerce) can use Webgility to manage them all.
Ease of use:
Although Webgility is geared toward larger eBay sellers, the application itself is enticingly intuitive and easy to use. The dashboard and module-based application makes it easy to navigate the application. In the event a merchant has an issue, Webgility provides online support during standard business hours. Additionally, detailed documentation and live online training is provided. Users may also want to check out the Webgility YouTube page for additional training and detailed explanation of features.
Cost:
Webgility provides a variety of tiers, and each tier has multiple pricing levels. The tiers and levels are based on feature sets, sales channels, monthly order volume, and number of users. Customers can also reduce the cost by purchasing an annual subscription as opposed to the monthly rate.
The “Lite” plan starts at 100 orders per month and a single sales channel. It includes automated bookkeeping integration and reconciliation reports. The cost for “Lite” increases incrementally based on the expected order volume and number of sales channels; however, for a seller turning 5,000 orders per month across five sales channels, the cost is still not prohibitive. The “Pro” plan adds the option for multiple users, comprehensive inventory synchronization, and more analytical tools. The “Advanced” plan comes standard with two users and adds a number of additional features including bundles, sales tax calculations, and premium support. The “Premium” tier offers drop ship capabilities, Avalara integration for sales tax management, and several additional features.
Things we liked:
- Seamless integration with QuickBooks Online (and other versions)
- Best in class inventory management
- Cost-effective, even for lower volume sellers
- Good customer service
- Multi-channel support
Things we didn’t like:
- Only one user on the lowest-price tier
- Designed for larger eBay sellers
- Cannot direct single-purchase transactions to a generic customer
Xero: Best overall
4.4
Starting at $11.00/mo.
Every Xero plans includes inventory, sales tax, and business expense tracking. Its straightforward reports help you understand how much you’re making and keep you on track for fast tax filing.See Plans
Data as of 8/19/21. Offers and availability may vary by location and are subject to change.
Most accounting software providers charge extra for inventory management. But Xero includes inventory tracking with every plan, even its $11 Early plan. That perk alone makes Xero a better fit than QuickBooks for eBay sellers who don’t want the hassle of finding a third-party inventory management system.
What does Xero have going for it besides its low starting price and thorough inventory tracking? Plenty, including these seller-friendly features:
- Financial reports, including profit and loss reports (necessary for tax filing)
- Online payment acceptance
- Integration with 800+ apps, including A2X for eBay
But Xero isn’t right for everyone. Xero’s Early plan limits you to just 20 invoices and five bills a month. If that cap is too low for you, you’ll need the Growing plan ($32 a month). And if you’re selling products globally, you’re out of luck: only the priciest plan offers multi-currency support.
FreeAgent
- Powerful cloud-based accounting software with a huge range of features
- Free for Natwest/Royal Bank of Scotland (RBS) business banking customers
- Dedicated phone and email assistance from UK-based support accountants
- Cloud-based – works on web browser, mobile and tablet
What is FreeAgent?
Set up in 2007, FreeAgent is now used by over 90,000 small businesses across the UK, who use it to keep track of their finances, expenses, invoices, estimates, and more. It boasts some great advanced features, like automatically generated VAT returns, corporation tax forecasts, and self-assessment tools that automatically fill in up to 90% of the self employment tax return form. It has also won awards (it was named the Small Business Accounting Software of the Year at the 2018 Accounting Excellence Awards, for example), and has an average rating of 4.7 out of 5 (from nearly 1,000 reviews) on Trustpilot.
For most users, though, all this comes at a cost (see the “why is FreeAgent free” section for full details). The reason FreeAgent is being discussed here is that it was bought by RBS in March 2018 for £53m, and it is now being offered for free to RBS/Natwest business banking customers.
This equates to a saving of at least £150 a year, and so is very tempting for small business owners. However, the small print makes it clear that taking up this option means your bank will be able to see exactly what’s going on with your accounts, so carefully consider whether you want to give them access to your detailed financial data in return.
What can FreeAgent do?
FreeAgent’s huge range of features includes:
- Tools to create and send professional estimates and invoices
- Time tracking tools so you can easily create smart timesheets
- Powerful HMRC integration that makes doing your tax return a doddle
- Automatic creation of VAT returns
- Corporation tax forecasting
- A dashboard that lets you easily monitor your cash flow
- Automatic importation of bank transactions
- A projects view that clearly shows the income, time, and expenses associated with each project, and whether it’s making a profit or loss
- A fully featured mobile app that allows you to snap receipts, create invoices, track time, manage payments, and see your accounts on the go
Why is FreeAgent free?
As stated above, FreeAgent is only free for RBS/Natwest business banking customers.
For everyone else, the standard pricing is as follows:
- Sole trader – £19+VAT per month – includes self-assessment filing tool
- Partnership/LLP – £24+VAT per month – includes profit share calculation tool
- Limited company – £29+VAT per month – includes self-assessment filing, dividend vouchers, and corporation tax forecasting tools
All plans have a 30-day free trial.
If you are an RBS/Natwest business banking customer, then you can get FreeAgent for free. However, remember that you are giving up something valuable in exchange – your financial data. Quite what your bank intends to do with this is not yet clear, but make sure you consider how this might affect you before signing up, and discuss this decision with your accountant if you have one.
What support does FreeAgent offer?
FreeAgent offers excellent customer service, with help available from UK-based support accountants via phone and email during business hours (9am-5pm Monday to Friday). The website also has lots of resources that explain things like expenses, invoices, and VAT filing.
FreeAgent Verdict
As a product, FreeAgent is a great solution for small businesses – it’s got loads of powerful features, and responsive customer support if you get stuck. Getting all this for free as an RBS/Natwest business banking customer is very tempting, but make sure you consider the potential consequences of giving up access to your detailed financial data in return.
Conclusion
eBay business owners are the most cautious of their financial records. This small business bookkeeping software will provide your eBay business with all the tools it needs to track sales, expenses, inventory, bank accounts, income and more.