Hi, I am new to all this now and I am slowly starting my eBay store. My main problem is keeping track of whats outgoing and incoming. So far I think I am making things hard for myself as I have set out 3 Excel spreadsheets.

One for sales with profit on each item.
One for P&P supplies and Materials
One for stock

The sales one states what I have sold and also the deductions such as paypal, ebay and posting it

The supplies is just a simple sheet with all the envolopes, bags and tape i buy

the stock is the tricky one as i buy wholesale but the more i buy the cheaper it gets and also i have to pay postage ontop so working out each individual items profit can be time consming.

I'm just seeing if there is a faster and easy way to basically show the tax man my profits and also let me keep track on whats best to sell and whats best to not restock.

Cheers

hi there JasonG

I'm in the same boat as you. Just starting out but im not using ebay
I would say that even though you do want to make sure you are making money on every item sold. When it comes to finding out what profit you made at the end of the month keep it simple.
Incoming - outgoing = profit

Mark

do what i did and search google for a "weekly bookkeping spreadsheet template" do one every week then using the figures on them make one for the end of each month. then after that you can again do the same sheet for end of year book keeping

you may find this useful. (my weekly bookkeeping system, download,edit to your buisness and save)

http://www.mediafire.com/?lzoyymfxwyn

hope this helps guys

Originally Posted by paulstanden

do what i did and search google for a "weekly bookkeping spreadsheet template" do one every week then using the figures on them make one for the end of each month. then after that you can again do the same sheet for end of year book keeping

you may find this useful. (my weekly bookkeeping system, download,edit to your buisness and save)

http://www.mediafire.com/?lzoyymfxwyn

hope this helps guys

I just downloaded and it looks good. Like you said it just needs to be changed slightly.

Thanks for that

Mark :niceone:

Originally Posted by paulstanden

do what i did and search google for a "weekly bookkeping spreadsheet template" do one every week then using the figures on them make one for the end of each month. then after that you can again do the same sheet for end of year book keeping

you may find this useful. (my weekly bookkeeping system, download,edit to your buisness and save)

http://www.mediafire.com/?lzoyymfxwyn

hope this helps guys

Wow this looks so much easier than the one i have haha, cheers for this :niceone:

Originally Posted by JasonG

Wow this looks so much easier than the one i have haha, cheers for this :niceone:

not a problem mate. what i did was do it every sunday at midnight then do a part week to reach the end of the month. from there its easy to do a monthly one:niceone:

Thanks Paul that looks pretty straightforward

Originally Posted by Acetech

Thanks Paul that looks pretty straightforward

not a problem. I had done a quick buisness course a few year back and was basically told to keep everything down to basics.

from the final figure you can work out how much tax to pay on a weekly basis by putting say 20% away in a savings account and that way when the tax man comes for his money its in your savings account with a tiny bit of interest. for the likes of powersellers and high volume ecommerce merchants that could be worth quite a bit alone :niceone:

Originally Posted by paulstanden

not a problem. I had done a quick buisness course a few year back and was basically told to keep everything down to basics.

from the final figure you can work out how much tax to pay on a weekly basis by putting say 20% away in a savings account and that way when the tax man comes for his money its in your savings account with a tiny bit of interest. for the likes of powersellers and high volume ecommerce merchants that could be worth quite a bit alone :niceone:

I never thought about that, I will be opening up a new savings account now haha, every penny helps, cheers :niceone:

I got a diploma in business and finance at college but that was a while back now, the template I had made up was more complex yet basically done the same job but this one just keeps it nice and simple, I like it.