What records resellers should actually keep
Not a filing guide, we're not accountants. Just what to have on hand before your accountant asks for it. Talk to one for anything specific to your situation.
The end of the year is when the gaps show up. Which items are still unsold, what you actually paid for them, and what got refunded, that's harder to reconstruct in December than it is to note in January.
Per item
- What you paid, and the date
- Where you bought it
- Its share of shipping, fees and tax
- What it sold for, on which platform
- The platform fee and shipping you paid on the sale
- Whether it was returned, and when
Plus, at year end: total spent, total earned, and the value of whatever's still unsold.
Two records people lose track of fastest. Returns: an item marked sold that later got refunded still counts as revenue if nobody corrects it. Unsold inventory: money you already spent, sitting on a shelf, easy to forget it's a cost you already paid rather than one still coming.
Keep it in whatever holds it reliably, spreadsheet or app. What matters is having it before you're asked for it, not after.
Export it in one pass.
ItemLogue keeps every purchase and sale record as you go, and exports it as CSV when you need it.
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