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Thanks for reaching out! The purpose of this report is to compare eBay data to MRG data to make sure everything imported from eBay. So item cost is not a factor when using this report.

Yes, this is the first thing you need to determine when accounting for your reselling business because inventory is central to everything resellers do. There's an article that's linked that describes the difference between the two methods (myresellergenie.zendesk.com/hc/en-us/articles/14483257510427-What-is-the-difference-between-the-cash-inventory-method-and-the-accrual-inventory-method). Ideally, this would be a question you discuss with a CPA. I'd also recommend checking out this article from Not Your Dad's CPA: notyourdadscpa.com/can-i-deduct-inventory-when-i-purchase-it/#:~:text=Most%20small%20businesses%20use%20the,not%20when%20you%20purchased%20it. Mark does a nice job explaining the history behind this topic and provides his insight. If you don't have a CPA, that will help provide some more information to make your decision.

Thanks for reaching out -- since you're commenting this on the "expense detail", I'm assuming you're using the cash inventory method and have all your inventory purchases recorded in the expense detail. The easiest way to do this is to run a profit and loss statement for the time period you want to export. Next, find the line on the P&L where your inventory purchases are recorded and click on it. You'll see a detail appears below the report that includes all the activity making up that number. You can download it by clicking the "Export" button on the table.

@@MyResellerGenie thanks!

Thanks for reaching out! Currently, we don't have integration with Vendoo. If you wanted to upload data from Vendoo, you can download a report from them and upload it into MRG. The two services are complementary, serving different purposes in your business. Vendoo helps with crossposting and inventory management, MRG provides an accounting records solution.

Hey, thanks for reaching out! Yes, you can upload a spreadsheet to help speed up this process. Most banks will allow you to download transaction details, so you can do that, add in general ledger accounts/expense categories and upload to MRG using these instructions: ruclips.net/video/o75_UvSrL6c/видео.html

So glad to hear it, Darlene!

This is something we do recommend discussing with an accountant, but this article might help: myresellergenie.zendesk.com/hc/en-us/articles/14483257510427-What-is-the-difference-between-the-cash-inventory-method-and-the-accrual-inventory-method That article discusses what both methods are and provides an example to illustrate the draw to each option as well as the general tax implications of each option.

Yall had an accountant you recommended I think it was Courtney? She also offered tax filing. Set up book keeping etc. Can you send me contact info

@@debbieclaxton9457 Hey Debbie, here's her appointment link: calendly.com/frederikaaccounting

Hey Debbie, here's her appointment link: calendly.com/frederikaaccounting

Yes, we did! Paul grew up in the Annapolis area and Faith grew up in Pasadena. We miss AA County!

Thanks for reaching out! You can definitely import your spreadsheet -- you'd need to separate the sales from the inventory. So you would upload a list of sales and you would upload a list of inventory.

Hey @danielmills7199, thanks for reaching out and thanks for the feedback! This is on our list to do -- sorry you can't benefit from it yet though. One feature that might help you to get current faster is the bulk edit feature for expenses: myresellergenie.zendesk.com/hc/en-us/articles/23523253908891-How-to-Bulk-Edit-Expenses This will allow you to update expense details like general ledger account, vendor, etc. for lots of expenses at once.

Hey cottagekeeper, check out the article below. The reports referenced in there will provide all you need to compare and reconcile to eBay. I have seen some differences between eBay 1099K's and their own reports. In these cases, it's likely related to a timezone difference in how the data was compiled and I'd stick to the numbers on the eBay reports. If there is a difference, it should be minor. myresellergenie.zendesk.com/hc/en-us/articles/13872501995547-How-to-reconcile-My-Reseller-Genie-to-eBay

@@MyResellerGenie Thanks, not certain I fully understand the response - to me things should match to the penny. If I were to buy MRG what reports do I give to my accountant to do my taxes? I have spent over a thousand dollars since 2019 for Quickbooks Online and paying people to train me how to use it (very unsuccesfully). As a seller that sells only on eBay is MRG something I can use to replace Quickbooks? I am a very detailed person, I tried MRG in the past and it was not reporting fees when things sold internationally and it was not reporting charity donations. I just did my end of year for 2023 in Quickbooks and it was tremendously time consuming and painful and I still have no way of knowing if the expenses, inventory purchases, End of Year COGS, owner contributions were entered accurately. I am dyslexic and understanding debits and credits is so confusing in Quickbooks. Sorry for the long question, I'm desperate to find something easy to use and affordable and most importantly very accurate.

Hey whitenoise6252, currently MRG doesn't have an integration with Amazon, so you would need to upload reports from Amazon or record the sales manually

Best place is support@myresellergenie.com!

Hey brutusthebulldog515, thanks for reaching out -- no need to transfer your info to a spreadsheet, MRG will store it for you. You can easily download your MRG data to have a backup copy stored locally as well

Hey Susan, thanks for reaching out. Sounds like you're keeping busy! We've got a lot of instructions available, we can also refer you to an accountant familiar with MRG if you need some assistance with bookkeeping.

Hey, thanks for reaching out -- to prevent this in future, if you leave the titles the same, they will be caught by our duplicate checker. At that point, you can remove these from being imported with other new listings. Regarding fixing it once it's done, a good option would be to download your inventory and use a spreadsheet program to highlight duplicates, then delete one of the entries from MRG. You could also sort the titles by clicking on the "Item Title" column header and look for duplicate items manually.

Hey Rosalind, you can reach out to support@myresellergenie.com or check out our website www.myresellergenie.com!

I forgot to mention I'm on accural method, I use rg for inventory and sales, qb for everything else thanks

Hey @@cindypierce4247 , yes, you'll want to add the inventory purchased in 2023 to MRG before you file your taxes. It doesn't have to be done immediately, just make sure it's in before filing taxes and you will be ok!

Hey, thanks for reaching out -- our plans are all monthly, ranging from $9.99 - $19.99/month

I'm thinking of purchasing the reseller Genie. I'm just now starting to look into this. Is this something I need to put every sell or every item into the inventory or is there a way to link up with ebay so that I only need to put in the info once and it automatically transfers? Also is there any options for all my sells last year to help with the upcoming tax headaches that await me. Thanks in advance.

Hey @@randydorris-vo1xz! Thanks for reaching out -- we do offer daily eBay and Poshmark integration on our Ultimate plan so that your sales, fees, refunds, and listings are all pulled. Regarding last year's sales, yes, you can import these from eBay with a couple clicks!

Hey Chriselda, the death pile inventory should be added to your inventory in MRG -- ultimately, the goal is to get all your purchases for a given year entered prior to filing taxes for that year. That will ensure that your inventory balances don't change the following year.

Nope! Unless you wanted to add it before you listed it. Some folks prefer this option to get more up to date inventory, but that would mean more manual work

So glad to hear it! Yes $47 is such a good deal!!