Collaborate on Free Car Sale Receipt Template for Accounting with Ease Using airSlate SignNow

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Explore how to simplify your process on the free car sale receipt template for Accounting with airSlate SignNow.

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  2. Upload a file up to 10MB you need to eSign from your laptop or the cloud.
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Free car sale receipt template for Accounting

[Music] thank you hey what's up everybody Welcome in this video is probably a little late for 2023 but a lot of you wanted an updated spreadsheet how to do accounting for resellers eBay sellers Poshmark sellers Makari whatever it is wherever you sell on uh every year I've presented a spreadsheet it's completely free it's through Excel so you will have to have access to Excel or you can recreate it on Google Sheets I will put a link down below there's a free download all you have to do is just drop your email in there so I can shoot it to you via email and uh this video will show you exactly how to do the spreadsheet exactly how I break it down and how I use that spreadsheet uh if you're somebody who wants to use an Excel Google sheet to do all of your accounting so let's jump over there and take a look at it obviously this is like a beginner step if you want to get more advanced with your accounting I highly recommend my reseller Genie I will link the how-to videos on my reseller Genie below along with their website and a discount code their program can automatically import things do all sorts of stuff for you in the meantime time this spreadsheet will get you started so let's go over and take a look at exactly how it's done and you can download it below and that free link have it open and pause this video as you go so you can learn how to input all of your stuff the sheet has already been created January through December of 2023 you can go back to January and February and we're in March right now and get it all caught up and then run it through the rest of the year so let's go over and take a look at how it's done okay so this is a screen share from my computer and this is exactly what you're going to see when you have the sheet downloaded so obviously January you can rename these anything that you want to name them but I've just named them the months January February March so on and so forth and it's been copied over through the entire month so you can edit those as you get into them so first category or First Column rather excuse me is date sold so pretty easy right the date that you sold the item 1 1 2023 one 223 whatever it is what the item is so I just put like a green Nike men's polo purple Michael Kors dress uh women's dress this is just all for examples doesn't matter you can edit these as much as you want the platform that you sold it on obviously that is pretty self-explanatory eBay Poshmark your SKU number if you're somebody who has an inventory number or a SKU you're going to go ahead and plug it in to here a101 could be A1 could be B1 doesn't matter and the total price that you sold now this confuses a lot of people because they're like well what if I charge shipping the sold item price the price you sold an item for is the entire price all in Period now the exception is Poshmark if you sell an item for twenty dollars and Posh charges eight for shipping they're collecting the shipping and paying it so that's not your sold price your sold price is 20. so for example if this green Nike uh men's polo had been 15 plus five shipping it is a twenty dollar sale that is what you need to start thinking of stuff as if you don't already it is one transaction you repeat paid all at one time all in and so that's how you need to record it when the IRS asks you at the end of the year quarterly or whatever you do what were your total gross sales they don't want to hear well I did 500 plus 200 in shipping no they want to hear seven hundred dollars so total sale price now when the item sells you can come over here and put in platform fee right so let's say the eBay fee was four dollars I totally made these up don't pay attention for these for percentage-wise I just made them up for the sake of this video so four dollar platform fee right and then let's say the label I bought a shipping label you are buying the label that is your expense whether you charge shipping whether you're free shipping it doesn't matter again the exception is Poshmark or anybody that will provide you the label whatnot would qualify as well so on eBay you charged the customer fifteen dollars plus five a twenty dollar total sale and you bought a four dollar and fifty cent label so there it is right there that is your expense that you have to report in your taxes now what did you pay for that item your cost of goods sold pretty straightforward right I bought that shirt for three dollars again totally made up but just giving you an idea three dollars now that left me eight dollars and fifty cents right so if you come over here and we do our simple math we have um we have a 20 sold price we paid four so that leaves us 16 after the fee we bought a 4.50 label which leaves us 11.50 and we paid three dollars for the item which leaves us eight dollars and fifty cents right pretty straightforward there's that 8.50 right there bang and so then we did that same uh thing for the second item the purple Michael Kors dress a106 we sold it for 25 on Poshmark right we see that Poshmark Posh is going to charge us 20 which is our file our fee we don't have to buy a label because they took care of it and we paid five dollars for that dress so ten dollars off our 25 leaves us a pretty easy math a 15 profit now our total so far all the way across is that we've sold forty five dollars we spent nine dollars in platform fees we spent 450 for our one label we spent eight dollars on our cost of goods and we were left with twenty three dollars and fifty cents and that is pretty much how easy that is folks that's all the accounting you will really need to do now over here I've added a second section which is other expenses so these are all non-platform non-label costs so over here is going to be our cost of goods our labels and our platforms over here is going to be everything else so we have them dated we have what the item was let's say on the first you bought yourself some poly mailers those are considered materials anything you use up in a year Inc toner materials poly bubble mail anything you don't keep that you will eventually use up generally within a year is considered material so you bought a box of polymalis for twenty five dollars a thermal printer is considered equipment equipment like a laptop or a phone or a light kit or things that you intend on keeping they are permanent and you may sell them down the road you may keep this thermal printer for two or three years and sell it and upgrade or something but generally it's an item you keep more than one year you paid 150 for that and then this could be another category which is you bought yourself a ticket to the boss reseller remix in October Las Vegas Katie and Vicky to the training session of the boss reseller remix that is a training product which is deductible if you go to any kind of training or classes or education and you spend 200 on that there are tons of other categories there's parking and tolls there's travel airplane and hotel that's also deductible there's meals and entertainment that you can deduct there are things like your store subscription your eBay store subscription every month is 59.99 or 29.99 or whatever you pay Amazon store 39.99 those every month could go into your other uh expenses into your categories and those would be like websites and do if you pay 20 bucks a month for your own personal website or your own email service that would also be a training or a deuce and category expense here that you could put in so you would track all those all the way down and so at the end of January you'll finish out January 31st you'll finish now you'll go into February now a lot of people are like well what if I bought some inventory in January and I didn't sell it until March I don't track my uh Accounting in that way I only put in what is sold in this month I don't care what was left when I buy stuff when I go out and buy inventory I keep a separate sheet a separate column which you're welcome to put in anywhere else that just says every time I bought something this whole list would be dated the store I went to and how much I spent and then I would have a total let's say my total was three thousand dollars right and then I come over to the sheet and my total cost of goods sold is three hundred dollars right on those items so I have 2 700 left in inventory that's how a whole lot of people like to do it I do mine even a little differently than that I like to zero mine out everyone I think knows that I put all my cost into everything um but for most people this is how they would do it their cost of goods sold for the item they like to see their profit per item and then they keep a track of all the money they spend on all their inventory somewhere else so they have a total they spent on inventory and then they subtract the cost of the goods that sold and that leaves them with how much inventory they have left in stock at the end of every year the end of every month or however they want to do it so that's their free spreadsheet I'll go ahead and leave the download for you guys once again if you have questions comments concerns please leave it on the video and as always if there's anything else I can do for you rockstarflipper gmail.com and of course the my reseller Genie is in the link to this video and into the original video where you can upgrade and instead of using spreadsheets you can use their software which is very affordable includes a discount code I will give you guys for 15 off to try them out for a month and once you get to that point where you don't want to use a spreadsheet anymore and manually input all this you can definitely go check out my reseller Genie thank you guys I appreciate it as always and I'll see you next time

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