Absolute Beginner's Guide to Launching an eBay Business

6. Step Four: Set Up a Record-keeping System

In this chapter

• Why you need to keep good records

• Components of a bare-bones record-keeping system

• Setting up an accounting system

When you're running a business, you need to keep track of what you're doing. That means keeping records about what you sell, who you sell it to, and how much money you make (or don't) from what you sell. These records not only help you manage your business on a day-to-day basis, they also help you prepare your yearly taxes.

This chapter walks you through the records you need to keep, and suggests how to set up your own recordkeeping system.

Why You Need to Keep Good Records

How profitable is your business? You'll never know if you're not keeping track—which ...