Last week I discussed how I used Excel to organize my to-do list. This week I discuss how I also used it to set up a financial record keeping system. Even though I haven’t opened up shop, I wanted a system in place to record income and expenses. As an event planner, I’m not new to tracking expenses, but sales are different. There are plenty of spreadsheets online to track Etsy sales, but I found this one on The Arkham Archivist very detailed AND it already included formulas for Etsy’s different transaction fees (for U.S. sellers).
If you look closely, there are several columns. A sale isn’t just a sale. You have transaction fees, (re) listing fees, and tax. These fees are important as they impact the bottom line. A screenshot of my spreadsheet is below – I couldn’t resist making it a little more aesthetically pleasing. I also added a summary section at the top that counts the type of sales so I can quickly see which categories are most popular (or not).
I wanted to have a record keeping system in place for multiple reasons but the main reason was Productivity. When I start receiving orders, I need an organized way to track them. Rather than wasting time making it up as I go, I’ll already have a system in place that I can adapt to my changing needs. This will allow me to more efficiently use my time creating and responding to customer questions rather than boring administrative stuff.
Some people call me crazy, but being prepared – doing what I can ahead of time to be able to enjoy my time with family and friends – is the inspiration behind Preperie. So hopefully I will be able to help you do the same as well!