Straight answers on seller books.
Plain answers to the bookkeeping questions online sellers ask: why payouts don't match sales, how to work out COGS, what to do when you're months behind. Each has a worked example that adds up and the sources it rests on.
Answer library
| Sales, payouts and 1099-K | 3 |
|---|---|
| Inventory and COGS | 4 |
| Tax basics | 1 |
| Getting help | 3 |
| All answers | 11 |
What answers carry COUNTED
- Linked calculator 4
- Sources cited 48
I'm months behind on my books — what happens and what do I do first?
Behind on bookkeeping for your online store? What it costs to stay behind, how long the IRS says to keep records, and the order to catch up in.
Read the answer → AnswerHow do I calculate cost of goods sold for an online store?
The COGS formula for online sellers: beginning inventory plus purchases, minus ending inventory. A worked example that adds up, and where books go wrong.
Read the answer → AnswerWhy doesn't my 1099-K match what I actually made?
Form 1099-K reports gross payments before fees, refunds, credits and shipping, so it rarely matches your payouts. Why, the $20,000 threshold, and the fix.
Read the answer → AnswerWhat is landed cost, and how do I work it out for my products?
Landed cost is the full cost of getting one unit ready to sell: product, freight, duty and fees. The formula, a worked example, and what it does to margin.
Read the answer → AnswerDo I need an e-commerce CPA, an accountant or a bookkeeper?
Bookkeeper, accountant or CPA for your online store? What each one does, which credentials the IRS lets represent you, and how most sellers combine them.
Read the answer → AnswerHow much does an accountant or bookkeeper cost for an online store?
How much bookkeeping, an accountant or a CPA costs for an online store: published monthly prices, tax preparation fees, and what moves your price.
Read the answer → AnswerIs inventory a current asset or an expense?
Inventory is a current asset until it sells, then its cost becomes cost of goods sold. A worked example, why it moves your margin, and what the IRS says.
Read the answer → AnswerCash or accrual accounting: which should an online store use?
Cash vs accrual accounting for an online store: how each records a marketplace payout and a stock purchase, who may use cash, and why books run accrual.
Read the answer → AnswerFIFO or LIFO: which inventory method should a seller use?
FIFO vs LIFO for online sellers, plus average cost and specific identification: a worked example with rising unit costs, and what a LIFO election involves.
Read the answer → AnswerHow do Amazon sales get into QuickBooks?
An Amazon deposit is sales minus refunds, fees and reserves, so it is not your sales figure. What a settlement contains, with a worked example.
Read the answer → AnswerDo online sellers pay self-employment tax?
Yes, once net earnings reach $400. Self-employment tax for online sellers in 2026: 15.3% on 92.35% of profit, the $184,500 wage base and the deduction.
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