Taxes Checklist

We’ve prepared a checklist for you, if you plan to use the InventoryLab P&L reports for your schedule C.

1. Get your inventory value by going to the Reports->Inventory Valuation. You are not required to run this on the last day of the year, but you will need to change the date in the upper right hand corner to 12/31 if you run it on a different date. Change the status in the top right hand corner to “All” and click “View” for the 12/31 date.

2. Before downloading or reviewing your P&L, make sure that you have your refunds marked sellable or defective accordingly. You can find your dispositions in Seller Central by going to Reports->Fulfillment->Customer Concessions->Returns.

3. Make sure all of your sales are reconciled for the entire year. If any of your sales for the year are showing “estimated”, or you are missing any Inbound Shipping fees, storage fees, subscription fees etc., please see this article to learn how to request your reports: Reconciling Legacy Transactions

Need more help with this?
Don’t hesitate to contact us here.

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