After fielding a few questions about why I do what I do with business, I became inspired to do more for the community that so often gives me help, kindness, and input. I like the idea of starting with numbers and google sheets, because its a great starting point for anyone selling clothes online. For the sake of this post, Im going to cover the way I track sales on Poshmark, Mercari, and Ebay. So for my first post on finances, I’m going to cover some basic ideas for tracking sales using google sheets/excel.
To get started, lets cover some terms and formulas I’ll be using throughout this post!
I've made it so following viewing each excel sheet photo on here, you can download the excel file version for you to use! Use the Icon beside "Download File" to do so easily. If a column is gray, then they possess formulas you can drag and fill in your chart (or copy & paste). If you fill in all parts of the spreadsheet, you will see the formulas work out. There is an example sold listing on the chart for tracking monthly sales. Use this example to gain insight into how to continue the chart as sales roll in!
why it matters that you track finances
I won't go into crazy details about why I love each and every financial figure and what it tells me about my business, I swear. I will, however, advise everyone running a business, even as a side hustle or hobby, to find some tracking system that works for you. These charts and excel documents could get you a seriously solid start, especially if you've been using any system along the way to track Cost of Goods Sold, Gross Sales, and more. The more efficient you are from the get-go, the less backfilling in information you'll have later on. I review my spreadsheets multiple times a day to constantly update when sales happen and to check figures for the month or year. Basically, if you're looking for a "lazy way" I cannot say I have one, I can promise it will be better now than later to fill in the charts, so get going today!