Poshmark Simple Sales & Inventory Management

Poshmark Simple Sales & Inventory Management

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I think you and I have 2 things in common:

  1. The idea of tracking inventory and managing our finances makes our eyes roll to the back of our skulls.
  2. Tax season scares the bejeebers out of us.

How close was I?

If at all on point, this post will help you a lot.

My friend Kreithchele is a certified CPA, and I’m taking her online accounting and taxes course created specifically for resale and boutique businesses.

Kreithchele is extending a $100 discount to my readers (isn’t she da bomb?) so click here if you want to dig deeper.

But today, I want to help you out with some basics!

Here’s what to expect:

I will briefly review 5 financial variables that I recommend you track. Before we start, download my free spreadsheet, so I can walk you through how I use it to track those variables in a short video.

First of all, record these…

1. Inventory Cost

How much did you initially pay for your garment? Some resellers record the exact cost per item; others log an average. I prefer the latter, but more on that later.

2. Price Sold

This figure is important! Even though you have fees coming out later, we can track patterns and determine our average sale price.

3. Fees

You can’t avoid fees! Poshmark takes 20%, and eBay/Paypal takes ~15% together. Wherever you sell, you need to account for their fees.

4. Profit

At the end of the day, your profit is what goes into your pocket.

5. Date Sold

You record dates to help further organize profits and track patterns.

Next, let’s put them to work…

In this video, I will integrate all the variables we discussed earlier into an inventory & sales spreadsheet. If you’d like to follow along, don’t forget to download your spreadsheet.

Otherwise, join me and glean what you may!

This spreadsheet is the backbone of my inventory management, and I pull a lot of numbers from it when it’s time to budget.

However, it doesn’t have the ability to generate income reports and balance sheets. You need those to evaluate how your business is doing!

Bummer, right?

Luckily, I’ve almost finished Kreithchele’s course! I’m busting out reports, talking about profitability, looking at my assets, and not stressing over the 2018 tax season.

Accounting & Sales Course Banner

Simple Inventory & Sales Management

After the $100 discount, the course costs $47 or $72 if you want to join the Facebook discussion group. We have live discussion videos, and Kreithchele is on top of answering all of our questions.

Hope to see you there!

42 Comments, RSS

  1. Matlin June 22, 2017 @ 2:58 pm

    Hey Emelie! I downloaded your spreadsheet today – I think it’s awesome! I’ve been using my own format, but I love that this one will automatically come up with the posh fees and such, instead of inputting that on my own.

    I was wondering what program you use when you’re using the spreadsheet. I downloaded it into my Google Drive as a Google Sheet, since that’s where I keep most documents, but unfortunately it made that automatic fee feature stop working! Everything else seems to be working fine, but the fees are not automatically calculating. I am trying to figure out how to do it myself, but I guess I’m not so advanced with spreadsheets… any help would be appreciated! 🙂 Thanks again.

    • emelie June 22, 2017 @ 4:57 pm

      Hey, girl! I’m so glad you like it… well, the idea of it at this point. haha. I went ahead and adjusted the files so you can choose between a Numbers, Excel, or Google Sheets file. The point is for you not to adjust formulas. I hope this helps! You can click here to go back to that download page. 😉 Let me know if it works!

      • Matlin June 22, 2017 @ 8:18 pm

        I still loved it without that part not working! Haha but THANK YOU! It works perfectly now 🙂

  2. Christina June 27, 2017 @ 6:29 pm

    Emelie!! Your spreadsheet has changed my life! No joke, thank you so much!! I had an old excel program that was messy and complicated, I entered all the fees manually, it was time consuming! I saw your video and loved the simplicity and the fact that the fees were already worked into the program. I started using it today, and I’m ecstatic! AAAAAHHHHMAZING! It’s easy, fresh and clean looking, and I am loving it. Thank you sincerely! I can’t tell you how much time this will save me, and how glad I am that I found you! Thank you thank you thank you!!

    • emelie June 27, 2017 @ 8:02 pm

      Thank you so much for leaving me feedback! Simple and efficient are my main goals, so this is refreshing to hear. Happy Poshing, Christina!

  3. […] finances, so I recommend you utilize Kreithchele’s online accounting course. Pair it with my free inventory and sales spreadsheet for a full understanding of your […]

  4. Betty July 3, 2017 @ 9:05 am

    Hi, when I download the google docs version, it is not allowing me to edit. Am I doing something wrong?

    • emelie July 3, 2017 @ 9:48 am

      When you pull it up, be sure to download it under “file.” It won’t allow you to edit the sheet I linked to because it is the original spreadsheet. I hope that makes sense. Then, you have your own copy to edit however you’d like. 🙂 Let me know how it works!

  5. Kate July 3, 2017 @ 1:19 pm

    Hi Emelie! Thank you so much for the wonderful spreadsheet. If have more items then there are rows in your downloadable spreasheet, how do I add in more rows but still keep the formatting, formulas, etc. the same? Thank you!

    • emelie July 3, 2017 @ 1:42 pm

      Wonderful question! I need to create another video covering things like this. It depends on the program you’re using, so you may need to Google how to add more rows in your program.

      As for keeping the formatting and formulas, you will click a box with a working formula. You should be able to click and drag down a corner, highlighting the enter column down your new rows. It’ll apply the formula to those rows.

      I hope this makes sense! If not, feel free to email me and I would be happy to assist further.

  6. Tonya July 24, 2017 @ 11:04 am

    Hi Emelie! I’ve just attempted to download your awesome spreadsheet and I’m having a really hard time opening it in Google Chrome or Internet Explorer–I tried downloading it in several formats, tsv, csv, etc. but each time it opens in my Google Sheets it is still only in VIEW ONLY format. Can you help me? I am scaling up on Ebay and Poshmark and I really need this! Thanks!

    • emelie August 29, 2017 @ 1:22 pm

      Hi, friend! I apologize for just now seeing this. I’m going to send you a quick email and see if I can help you real quick.

  7. Meg July 30, 2017 @ 2:01 pm

    I’m so excited to find this spreadsheet! I just started selling on Poshmark and this could be so helpful 🙂
    I don’t sell on ebay, but I do sell on Shopify and Etsy. Can this be adjusted to incorporate those?
    Thanks!

    • emelie July 31, 2017 @ 10:37 am

      Hi, Meg! I love the jewelry on your site – are you going to sell it on Postmark? I’d love to connect with you!

      This can DEFINITELY be adjusted to incorporate those platforms. I’ll email you. 🙂

  8. Kate August 6, 2017 @ 8:09 am

    Love seeing how fellow analyst junkies track their sales and inventory! I did my July analysis yesterday and the info your can glean is truly invaluable to success. I love that you offer these resources for free for others, super kind gesture! Happy Poshing 🙂

    • emelie August 7, 2017 @ 7:41 am

      July… whew, what a month. Thank you for viewing my reseller tools! Happy Poshing to you too. 😉

  9. Kim August 7, 2017 @ 5:00 pm

    Great info and I love the functionality and ease of this worksheet. Thank you for sharing!

    • emelie August 9, 2017 @ 8:12 am

      Absolutely! It’s definitely helped streamline a couple aspects of my business – hope it’ll do the same for you. 😉

  10. Flo August 13, 2017 @ 6:40 pm

    Thank you so much for this!! I am so rusty on using spreadsheets and was not looking forward to making one for my Poshmark and Ebay sales but then I stumbled upon your blog. You are a lifesaver! It is so simple, clear, and easy to use. Thanks again:)

    • emelie August 13, 2017 @ 9:13 pm

      Eek! I’m very happy this will help you! Figuring in all the fees is a huge booger.

  11. Jeni August 15, 2017 @ 10:16 am

    Your spreadsheet is a life saver!!! I do have a question, I also sell on mercari, vinted, and Tradesy. Can I put these into the spreadsheet? Thanks!

    • emelie August 15, 2017 @ 10:58 am

      Hi, Jeni! Absolutely. I’ll shoot you an email.

  12. Anna August 27, 2017 @ 5:42 am

    Emelie,
    Thank you SO much for posting your spreadsheet! I’ve been looking for something like this for over a month–everybody else wants to charge me for theirs, and your posh/ebay calculation tools are basically genius. You’ve made my life *much* easier!

  13. Christine August 30, 2017 @ 9:00 pm

    Emelie!
    Bless you for not only creating an easy-to-use spreadsheet BUT ALSO offering it for FREE – especially appreciated by those of us who used a typewriter to create our term papers for college! I had been keeping track of my sales on Poshmark manually in a notebook (!) – NO MORE!!!!!
    Thank you for helping this old-school Posher enter the 21st century in style!

    • emelie August 30, 2017 @ 11:24 pm

      In a notebook!? Nu-uh, welcome to the 21st century. hehe. You are so welcome! If you need any help, feel free to contact me. 😉

  14. LH September 9, 2017 @ 2:15 am

    I truly appreciate your generosity.

  15. Michelle September 13, 2017 @ 9:53 am

    Hi thanks so much for the spreadsheet. It is really helpful. I’m having some trouble of the formulas not calculating. On your excel template, the month sheet has 21 rows which I have used all of them. When I add new rows after that, it won’t calculate the formulas. What am I doing wrong? I hope I make sense. I also have mercari and vinted. How would I go on adding those? Thanks

    • emelie September 13, 2017 @ 10:15 am

      Good morning! I’m glad this is helpful for you! When you make new rows, you will need to drag the formula down to include those rows. For instance, click a box with a formula in it within the last row that works. Hover over the bottom right corner of this box and click, then drag down the entire column. This will apply the formula to those boxes. I hope this makes sense!

      As for your Mercari and Vinted – you will need to add columns, formulas, and change a few formulas already in place. I make customized reseller tools for a small fee if you’d prefer someone else do it for you. Let me know and I’ll email you!

  16. Danielle September 25, 2017 @ 7:18 pm

    Hi Emelie! In terms of bundles, I was wondering if you combine the items into one entry so you have the total cost of goods or if you list them separately and just average out the price they sold for? Thanks!

    • emelie September 25, 2017 @ 8:13 pm

      Hey, friend! I actually combine them when I transfer them over to my monthly spread, if that makes sense. I’d be happy to email you more details if that sounds confusing.

      • Danielle September 26, 2017 @ 9:44 pm

        Makes sense, that’s what I ended up doing. thanks 🙂

  17. Casey October 2, 2017 @ 11:48 am

    Hi there! I stumbled upon your spreadsheet. I am so excited to give this a try. The reviews were so promising. I have received the email and activated the subscription. However ,I cannot find the spreadsheet. Any idea where on my computer I can find that?

    • Casey October 2, 2017 @ 12:43 pm

      Figured it out!

  18. Elizabeth Walz October 25, 2017 @ 11:34 am

    I love love LOVE your blog, btw. I had a question about the spreadsheet. Is it possible to delete the ebay section without messing with the formulas? I tried to delete the column but now I’m getting error symbols and it’s not adding up the profits. i also want to say thank you for providing this spreadsheet to the masses. I have a LOT of inventory and you’ve helped me manage it much better

    • emelie October 25, 2017 @ 10:50 pm

      Thank you so much! You need to delete the column, but there are about 3 places the formulas need to be adjusted in. I can do that for a small fee, or you can just… ignore it? haha. I am so happy this has helped you, girl! <3

      • Elizabeth Walz October 30, 2017 @ 9:31 am

        I deleted and readjusted. I think I got it all figured out. Thank you so much for your help!

  19. Elizabeth Walz October 25, 2017 @ 11:35 am

    I should also mention I’m doing this all on my iPhone and have ZERO knowledge of numbers.

  20. Mackenzie October 25, 2017 @ 3:23 pm

    This spreadsheet is so helpful thank you!!! I am new to posh still and now i feel like I can really keep track of things!

    • emelie October 25, 2017 @ 10:51 pm

      Welcome to the family! What’s your platform and username? I’m thankful this has helped you stay organized.

      • Mackenzie October 28, 2017 @ 8:41 am

        I use posh and my username on there is @mtknapp ! Thnx again for sharing

  21. Brittany November 21, 2017 @ 8:20 pm

    Hi Emelie!

    I’ve been wanting to find a tool to track my Poshmark sales and was so happy to have found this! After downloading and plugging in some numbers, I’m noticing the closet inventory totals at the top of the spreadsheet aren’t adding up correctly for some reason? Any idea if I did something wrong maybe? Also, how much do you charge for customized reseller spreadsheets? Thank you so much!

    • emelie December 19, 2017 @ 10:20 pm

      I’m sorry to respond so shortly! I’m going to shoot you an email and see if you’ve figured this out. 🙂

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