While I really like to plan for the future, I find more often than not, I’m tweaking past products as I move into each new year. I like to think of this as an evolutionary perspective to things.
With that, I offer my 2015 Tracking Sheet.
I like to think I’m more technically savvy than I am, but in the event the link doesn’t work, just e-mail me, and I’ll get a copy to you.
So to give you some background of why I’ve chosen some of the fields. I’ll ignore the self-explanatory fields, and highlight the ones that for me are different or meaningful.
– CB/Miles/Points — This year I’m treating Cashback / Miles / Points as “discounts” to the product I’m selling. The goal of this is to reflect a more appropriate cost of good sold when it comes to tax time. Now you’re probably thinking: how can you value miles or points relative to this endeavor. Great question, I’m going to value every mile, point, or cashback as $0.01. If I find I’m doing a lot of Southwest, and Southwest doesn’t further devalue, I may change the Southwest Rapid Reward point value to $0.0147, however, I suspect it will be more in the rounding.
– Shipping Fees — I’ve tracked these for some time, but I have found over the last year that its easier to attribute the shipping fees distributed to the product, which impacts the margin. I tend to think this is easier than trying to charge the shipping fees as a macro-level cost at the end of the year for tax purposes.
– FBA Center — This is important because if/when I decide to charge sales tax (and my accountant is pulling me, kicking and screaming), I need to know where I have nexus. That said, it is probably not terribly important if you don’t plan to charge sales tax, however, I can’t speak to the IRS implications one way or the other.
– Comments — This is where I note the details of returned products (of course in “status” I’ll note a product is returned). This is important because Amazon gives a rather significant time to (30-90 days depending on time of year) for returns to be received. Now that said, I’ve had returns where customers haven’t sent the product back, be credited after the requisite number of days.
I realize that reselling is a rather particular niche, but I would encourage folks who do reselling to share any tweaks or other spreadsheets they use in the comments. I think we can all learn and improve our tracking that way.