Mascot provides accounting and reporting tools to help manage your taxes and streamline reporting for your accountant or accounting software. However, Mascot does not handle or capture sales tax, produce 1099s, or pay your taxes—these activities are managed through the sales channels and marketplaces where inventory is sold.
Generating Reports for Tax Purposes
To access tax-relevant data:
Current Inventory Report:
Navigate to the Collection tab.
Click “Generate Report” in the upper right-hand corner to produce a report of your current inventory levels.
Sales History Report:
Navigate to Sales History.
Click “Generate Report” in the upper right-hand corner to generate a sales history report.
📌 Note: These reporting features are available exclusively for Mascot Pro and Mascot Expert subscribers.
Downloading & Exporting Invoices
You can download invoices for individual items from Sales History:
Locate the “View Invoice” column header.
Click “View” to open the invoice.
Scroll to the bottom of the invoice page and click “Download” to export it.
Best Practices for Tax Management
To streamline tax season, we highly recommend inputting your cost and expenses for each inventory item in Mascot. This proactive approach will save you significant time when filing taxes.