keeping track of resell profit and losses - Mothering Forums

 
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#1 of 3 Old 04-17-2015, 01:14 PM - Thread Starter
 
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keeping track of resell profit and losses

what is the best way to keep track of profits and losses for ebay or reselling?

Would the best way be to use a seperate bank account?

TIA

SAHM to DS 9, DSD 7, DD 4 and DSD 4. Happily in love with my Superman!
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#2 of 3 Old 04-17-2015, 05:56 PM
 
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Yes, definitely open a separate account for biz use. I originially just added a secondary checking account to my main account at my bank (credit union) but they now have super basic biz checking that I can access from my main account, so it's super easy to make transfers for my "salary" =)

I use Excel as a checkbook register/budget and at the end of the year, I just sort the whole page to add up what I spent on each category. For the years when I wasn't making enough to need a separate account (I closed the secondary one when I divorced and just didn't bother opening a new one until last year), I just marked every biz entry with a W to indicate that item was for my biz, so they got sorted out at year end as well.


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Last edited by rubelin; 05-02-2015 at 04:40 PM.
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#3 of 3 Old 05-02-2015, 01:25 PM
 
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A separate bank account and an excel file here, too.
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