Bookkeeping overview

Reselling is a business, and a business has books. Reskale keeps them as a side effect of the work you were doing anyway.

Bookkeeping (open).

Reskale is not an accountant and this documentation is not tax advice. It organises your numbers into a shape a tax professional can work from. What is deductible where you live is a question for someone qualified in your jurisdiction.

What is automatic

These land without you doing anything, because Reskale already syncs them:

• Sales income — every sale from every connected marketplace.
• Marketplace fees — what each one took, from their own reporting rather than an estimate.
• Net proceeds — what actually reached you.

That is most of the income side of a reseller's books, and it is the part that is genuinely painful to reconstruct by hand across four marketplaces.

What you enter

• Cost of goods — what you paid for inventory. Enter at intake, on the item, while you still remember.
• Expenses — supplies, subscriptions, mileage, fees not tied to a sale.
• Mileage — sourcing trips and post office runs.
• Hours — time worked.

Why bother

Three reasons, in ascending order of how much money they represent:

Tax. Unrecorded expenses are tax you did not need to pay. Mileage alone is frequently the largest deduction a reseller has, and it is the one most often lost because nobody wrote down the trips.

Knowing whether it works. Revenue is not profit. A year with £40,000 of sales and no expense tracking tells you nothing about whether the business is worth running.

Knowing what to source. Profit by category, by marketplace, by sourcing location. That is the difference between sourcing on instinct and sourcing on evidence.

Sections

• Income and expenses
• Mileage and hours
• Receipt scanner
• Year-end and exports

Mobile

Bookkeeping syncs with the Reskale mobile app. Log a mileage trip from the car and an expense from the checkout queue — the entries that are easiest to lose are exactly the ones you cannot make from a desk.

The habit that makes it work

Enter things as they happen. Ten seconds each, at the moment.

Every reseller who tries to reconstruct a year in April discovers the same thing: the receipts are gone, the trips are unrecoverable, and the resulting number is a guess that costs money in one direction or risk in the other.

Related

• Sales — where income comes from.
• Inventory — where cost basis is recorded.
• Supplies — packaging costs.