Thank you for this! This info is amazing! I’m a sneaker reseller and need to keep up with all my sales, inventory and cost of goods for tax time in 2023. This helped me a lot!
Thanks a lot, this really helped! Just started my reselling business on Mercari and needed a way to organize my sales and profits. Appreciate the help🙌🏽
Thank you so much, you were the first I decided to watch and I learned something New. It's for my jewelry business. Keep up the good work. Hello from Pasadena, TX
Just getting into video game reselling and this is very helpful. Just need help with a few things. 1. I'm not sure how to figure out cost of goods on inventory I already owned. 2. Should I include the money spent on games I got in a bundle if I was keeping some for my personal collection? 3. Should I add cost of goods on the month I purchased or the month they sell? Any advice or tips would be great.
If they're items you already own, you can just estimate based on current selling prices or what you think you purchased them for. From what I've read from other sellers, even if it's a personal item, if you think you are losing money on an item that you're selling, it's good to include it because it will be subtracted from your taxable income. If you got items in a bundle, I would just divide the cost by all the items you go so you can easily calculate cost per item and it wouldn't include items you are keeping for yourself. As for your 3rd question, some people include cost of goods into their business costs the year they purchased the item and others include it in the year they sell. I personally do the second option just so I know I'm including both COG and profit in the same year. Hope that helps!
Stallion is a third party shipper I use in order to ship things to the states from canada (they cross the border and drop off packages to a usps). They charge 0.8-2.99 for my PM packages
![How to keep Inventory using an Excel Spreadsheet - [create your own Template]](http://i.ytimg.com/vi/msQoTuCsKJ4/mqdefault.jpg)
Hi everyone! I've made an updated version of a reselling spreadsheet that includes a few more helpful tips if you want to check it out 😊
Thank you for this! This info is amazing! I’m a sneaker reseller and need to keep up with all my sales, inventory and cost of goods for tax time in 2023. This helped me a lot!
Question… do you sell online or have a brick store…?
Thanks a lot, this really helped! Just started my reselling business on Mercari and needed a way to organize my sales and profits. Appreciate the help🙌🏽
I love this tutorial. I needed to know how to set up my calculations, so I don’t have to re-enter everything. I’m a subscriber now!
I hardly subscribe to anything but I have to your videos. There brilliant. I hope you make more thanks.
Thank you so much, you were the first I decided to watch and I learned something New. It's for my jewelry business. Keep up the good work. Hello from Pasadena, TX
Thank you so much. I had no idea how to do this.
Thank you so much for this tutorial! I’m new to the reselling community and looking forward where it takes me. 🥰
thank you, peaceful teacher
December 2022. It’s what I was looking for! Thank you so so much! 👍👍👍
Straightforward & Easy to follow along. Thank you so much!
hello do you have a tutorial about SEO that could allow me to improve my listings
Thank you ! Great explanation !
Thank you so much for this! Much appreciated 😊
Thank you for making this Simple 🤙🏻💯
Thanks so much! I promised my tax lady I’d have an excel sheet for her this time around.
Such a great tutorial. Thank you for making this!
Very helpful video really appreciate your time for doing this
Glad it was helpful!
What’s the name of the song in the beginning?
I'm 35 , I learned alot, never done one . Getting into reselling
This was so great! Thank you! More videos like this would be 👍
Wonderful video! Thanks very much!
Just getting into video game reselling and this is very helpful. Just need help with a few things.
1. I'm not sure how to figure out cost of goods on inventory I already owned.
2. Should I include the money spent on games I got in a bundle if I was keeping some for my personal collection?
3. Should I add cost of goods on the month I purchased or the month they sell?
Any advice or tips would be great.
If they're items you already own, you can just estimate based on current selling prices or what you think you purchased them for. From what I've read from other sellers, even if it's a personal item, if you think you are losing money on an item that you're selling, it's good to include it because it will be subtracted from your taxable income. If you got items in a bundle, I would just divide the cost by all the items you go so you can easily calculate cost per item and it wouldn't include items you are keeping for yourself. As for your 3rd question, some people include cost of goods into their business costs the year they purchased the item and others include it in the year they sell. I personally do the second option just so I know I'm including both COG and profit in the same year. Hope that helps!
Would love to see an inventory sheet and the other examples you talked about!🇨🇦
Sure I can do one!
@@thriftythreadsneedles hello
Thank you very much!
Thanks I learn a lot
Hey how would you go about tracking bundle sales? Would you keep them on one line or separate the items?
I would separate the items into 2 different lines (for the product column) but only put the sales cost on the one line if that makes sense!
What are the stallion fees? What does it mean?
Thank you!
Stallion is a third party shipper I use in order to ship things to the states from canada (they cross the border and drop off packages to a usps). They charge 0.8-2.99 for my PM packages
thank you :)
Hello, do you know how to open accounts in countries other than yours?
I can only do US and Canada as I use options to carry my packages over the border
Thank you 🙏
How would you keep tabs on what your employees sell ?
I don't have employees 😅 but you can always give them access to the sheet and they can update it as necessary
Thank you🤗
Thank u❤
very good used this
Nice
What about fees and taxes?
I'm planning on making an updated sheet that will include more details such as that
it just me or I just don't get it even I really want to learn even basic I didn't get it at all
I go through step by step the basics in the video! What parts are you having trouble with?
much better than paying mogeybeth to get more rich than she already was lol
I'm glad you found it helpful! I plan to make an updated one soon if you have any requests of what info to add to your spreadsheet!
Thank you so much!! Subscribe