posted on April 23, 2004 04:45:39 AM new
I've been selling on ebay on and off for a while, and when I get heavy into it I can have over 300 items listed a week. But I've never found a good way to track my profits(if I have any haha) quickly with a clear cut, black and white picture of how I did. I was using a program I got called ebay profit calcualtor but its more geared toward selling a couple of items and it took me forever to punch it all in. I was just wondering how other people do it, so maybe I could get some more ideas, ~Thanks
posted on April 23, 2004 09:04:14 AM new
If you're selling different items, there is no way to get away from multiple entries.
I figure a BEPP (Break even price point) on any item before I list it.
I calculate what the item will cost me "out the door" which includes postage. Granted some of the figures are rough estimates, such as shiping, but it gives me a good idea if there is a profit at any given final price.
posted on April 23, 2004 09:34:00 AM new
I didn't know exactly what I was spending in total fees per item, etc. So I made up a table in Word that has 8 columns -- ebay item #, item title, total cost of item, amount item sold for (including shipping), ebay fees (listing and fvf), vendio fees (listing and fvf), paypal fees and profit/loss. Whenever I purchase an item, I put down the full amount I paid for it (including shipping and sales tax, if any). When I list, I put in the ebay item # and title. Then when the sale closes, I fill out the rest. Each month I total up my shipping fees (I keep the PO receipts in an envelope), packing costs (envelopes, tape, etc.)(I keep the receipts in a separate evelope), additional ebay fees (for my store) and additional vendio fees. I then total up the profit/loss column, subtract out all additional fees and shipping costs and come up with my profit/loss for the month. I know it sounds like alot, but it isn't because I enter the information in as I go. I have it down to the penny!
See, I told you all I was anal!
[ edited by bizzycrocheting on Apr 23, 2004 09:36 AM ]
posted on April 23, 2004 02:02:02 PM new
"bizzycrocheting' good plan however if you have Excel learn a few formulas and Excel will do some or all of the math for you. You just punch in the root numbers and tell it to do it's stuff. A little difficult in the start however in the big scheme of things well worth the effort. The sad part is many times you find you worked for darn near free.
If you ever do consignments you will HAVE to do something like this....David
posted on April 23, 2004 02:24:34 PM new
I use AuctionWorks. When I create me inventory I plug in the actual cost as well a my auction prices. At the end of the month I go to their reports and run a P&L report selecting f to include both my AW fees as well as the ebay fees and alakazam - there it is- all laid out for me in about 1 minute.
Want to see what the sell thru rate and average profit percentage on a specific item is? Click on the little question mark next to the inventory item and I get a break down of success rate, hit and profit per individual listing as well as average closing price and percentage.
All of the reports can also be downloaded into excel for any additional work you wish to do.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
[ edited by fenix03 on Apr 23, 2004 02:27 PM ]
posted on April 23, 2004 03:33:54 PM new
dacreson -- I know I know!!! <sigh> No matter how many times I sit with the Dummy book, I still cannot get it to sink in. I seem to have a mental block against learning Excel. So I do things the old-fashioned way.
posted on April 23, 2004 05:12:25 PM new
Hello
Chuck the dummy book. Get someone to explain to you one formula Write it down. set up a test page put on root numbers hack around until you get the formula to work. The rest is just building on that. Is not really that hard and when it works you will be amazed at the results (though not necessarily the profit)
David
posted on April 24, 2004 08:38:08 AM new
TWC -- Thanks, but that went right over my head.
Dave-- Quickbooks can do the same thing as my old-fashioned way? If so, I'll pick it up. I'd like to be able to alphabetize my patterns so that I can find them quicker when entering in the information.
posted on April 24, 2004 10:21:17 AM new
I use Simply Accounting--about $50 at Office Max. Enter products in my inventory, enter sales when they happen, enter Vendio and eBay invoices at the end of the month.
posted on April 24, 2004 01:19:08 PM new
fluffythewondercat
I like that (assume the pickles are long gone I did the same thing with a dedicated check book. If you don't take consignments and if averages are OK, works well. Bought some stuff including a Hot Tub a complete L Lamoure book collection etc with profits and after near 5 years account has less than 10.00 in it but was fun and worthwhile. Now I am 99.5% a eBay buyer
David
So I do things the old-fashioned way.
David