How do I check my tax report totals?

Flipwise helps you prepare your taxes by allowing you to log and track your reselling data, but it is not tax software. Flipwise does not offer tax advice and this article should not be considered tax advice. We strongly recommend that you consult with a professional tax advisor when preparing your tax return.

When viewing your tax report, you will see a Download button on the right side (or below when using a small screen). Clicking this will generate a zip file containing multiple CSV files. These files contain the raw data from your store related to the values displayed in the tax report. You can use this raw data to understand how the totals reported by the tax report are calculated.

What's included in your data export

flipwise-YEAR-tax-report.csv: Your tax report in CSV format.
flipwise-export-starting-inventory.csv: Your inventory at the start of the tax year.
flipwise-export-inventory.csv: All products purchased during the tax year.
flipwise-export-sold.csv: All products sold during the tax year.
flipwise-export-disposed.csv: All products donated/discarded during the tax year.
flipwise-export-ending-inventory.csv: Your inventory at the end of the tax year.
flipwise-export-marketplace-fees.csv: All marketplace fees incurred during the tax year.
flipwise-export-shipping-label-transactions.csv: All shipping label transactions recorded during the tax year.
flipwise-export-misc-ebay-transactions.csv: Misc eBay transactions recorded during the tax year.
flipwise-export-ledger.csv: All ledger entries recorded during the tax year.
flipwise-export-refunds.csv: All refunds issued to buyers during the tax year.

Checking your raw data against the tax report totals

If you're curious how the values shown in your tax report relate to the raw data, read on:

Business income

To understand your gross sales total, check the flipwise-export-sold.csv file and total up the “Gross sales” column (G) for each marketplace you sell on.
To understand any additional revenue from the Ledger, check the flipwise-export-ledger.csv file and total up the “Amount” column (C) for the rows where the “Type” column (B) contains the word “CREDIT.”
To understand any misc eBay credits, check the flipwise-export-misc-ebay-transactions.csv file and total up the “Amount” column (E) where the “Book entry type” column (D) contains the word “CREDIT.”
To understand any shipping label adjustments, check the flipwise-export-shipping-label-transactions.csv file and total up the “Amount” column (E) where the “Book entry type” column (D) contains the word “CREDIT.”

Inventory and COGS

To understand your starting inventory value, check the flipwise-export-starting-inventory.csv file and total up the “Purchase cost of quantity on hand” column (G).
To understand your total spent on new inventory, check the flipwise-export-inventory.csv file and total up the “Cost” column (G).
To understand your cost of goods sold (COGS), add the starting inventory value to the total spent on new inventory and subtract the ending inventory value.
To understand your ending inventory value, check the flipwise-export-ending-inventory.csv file and total up the “Purchase cost of quantity on hand” column (G).

Business expenses

To understand your total eBay ad fees, check the flipwise-export-marketplace-fees.csv file and total up the “Amount” column (E) where the “Fee type” column (C) contains “AD_FEE.” Include both debits and credits.
To understand your total eBay final value fees, check the flipwise-export-marketplace-fees.csv file and total up the “Amount” column (E) where the “Fee type” column (C)contains “FINAL_VALUE_FEE.” Include both debits and credits.
To understand your total fixed eBay final value fees, check the flipwise-export-marketplace-fees.csv file and total up the “Amount” column (E) where the “Fee type” column (C)contains “FINAL_VALUE_FEE_FIXED_PER_ORDER.” Include both debits and credits.
To understand your total eBay international fees, check the flipwise-export-marketplace-fees.csv file and total up the “Amount” column (E) where the “Fee type” column (C)contains “INTERNATIONAL_FEE.” Include both debits and credits.
To understand your shipping label costs, check the flipwise-export-shipping-label-transactions.csv file and total up the “Amount” column (E) where the “Shipping label transaction type” column (C) contains “STANDARD_PURCHASE.” Additionally, check the flipwise-export-sold.csv file and include the total in the “Shipping cost” column (U) where the “Manual shipping cost?” column (T) equals “Yes.” Adding these two totals together will give your total shipping label costs.
To understand your total shipping label adjustments, check the flipwise-export-shipping-label-transactions.csv file and total up the “Amount” column (E) where the “Shipping label transaction type” column (C) contains “STANDARD_PURCHASE” and the “Book entry type” column (D) contains “DEBIT.”
To understand your total return shipping label costs, check the flipwise-export-shipping-label-transactions.csv file and total up the “Amount” column (E) where the “Memo” column (F) contains “Return shipping label.”
To understand your additional Ledger expenses, check the flipwise-export-ledger.csv file and total up the “Amount” column (C) for the rows where the “Type” column (B) contains the word “EXPENSE.”
To understand your total order refunds, check the flipwise-export-refunds.csv file and total up the “Refund amount” column (G).
To understand your total misc eBay debits, check the flipwise-export-misc-ebay-transactions.csv file and total up the “Amount” column (E) where the “Book entry type” column (D) contains the word “DEBIT.”