How do I use the Ledger?
The Flipwise Ledger allows you to record all of your general business expenses. Things like shipping materials, mileage, subscription fees, and anything else you may want to keep track of for tax purposes.
Important: you do NOT want to use Ledger to track your inventory costs. Instead, assign your inventory costs directly to the products in your inventory using Purchase Price.
Additionally, the Flipwise Ledger will automatically ingest any transactions from eBay that are not associated with an item in your inventory or a historical eBay order. The most common example of this your eBay Store subscription if you pay for one. Any transactions automatically imported will show a lightning bolt icon next to them.
eBay is not very good at describing what these transactions are; Flipwise will provide as much information about each transaction as possible in the description field, but often the information eBay provides is vague and not all that helpful. If you know what item in your inventory a transaction is related to even if eBay does not provide that information, you can associate the Ledger entry with a Flipwise product, which will factor the cost or credit into the product’s net return, just like any other Ledger entry.
You can click this lightning bolt to view more information about the transaction and follow a link to the transaction details on eBay.
