How to keep track of cash coming in and out

Why Tracking Your Cash Flow Matters

Managing the cash that moves in and out of your reselling business is crucial—even if you’re just starting out. Without a clear picture, it’s easy to lose track of profits, inventory, or even accidentally overspend. Effective cash flow tracking helps you:

• See which products and channels are profitable

• Avoid running out of money for new inventory or operations

• Keep your team on the same page

• Handle taxes and reporting with less stress

Step 1: Set Up a Simple Central System

You don’t need to start with fancy software. A basic spreadsheet or a free tool is enough. The goal is to have one place where every sale, purchase, and expense is logged. This keeps you organized and lets you spot trends quickly.

• Google Sheets: Free, cloud-based, and easily shared with team members.

• Excel: Great for offline tracking or if you’re already familiar.

• Gavelbase: Offers dedicated inventory, sales, and fee tracking, plus syncing between multiple marketplaces.

What to Track

• Date of transaction

• Item sold or purchased

• Amount received or paid

• Marketplace or payment method

• Fees (e.g., eBay, PayPal, shipping)

• Shipping or pickup details

Set up columns or fields for these basics. Keep it simple at first—you can always add more details later.

Step 2: Keep Inventory and Listings in Sync

When you list a product on multiple sites (like eBay, Facebook Marketplace, or Mercari), it’s essential to update your inventory as soon as something sells. This avoids double-selling and confusion.

• Manual method: After every sale, update your spreadsheet or master inventory list.

• Automated tools: Central platforms like Gavelbase can automatically sync inventory and listings across channels, saving time and reducing errors.

Tip: Schedule a daily or end-of-day check-in to make sure your records and listings match reality.

Step 3: Assign Basic Team Roles

If you have help—even just a family member—you’ll avoid mix-ups by assigning clear roles:

• Listing manager: Handles posting and updating listings.

• Inventory tracker: Updates the central spreadsheet or system after each sale or restock.

• Shipping coordinator: Oversees packing and sending items or coordinating pickups.

For solo sellers, set a simple routine (e.g., "update cash flow and inventory at 6pm every day") to keep everything current.

Step 4: Track Sales, Fees, and Expenses

Every time you make a sale, log:

• Gross sale amount

• Marketplace fees (selling, transaction, etc.)

• Shipping costs

• Other expenses (e.g., packaging, advertising)

• Net profit (what’s left after fees and expenses)

This gives you a true picture of what’s coming in and what’s going out. Over time, you’ll spot patterns (which items or channels are most profitable, which fees eat into profits, etc.).

Example Spreadsheet Row

Step 5: Handle Shipping and Pickup Cleanly

Shipping and pickups can be a source of confusion or loss if not tracked. Here’s how to keep it simple:

• Record every package sent: date, carrier, tracking number, and shipping cost.

• For pickups, note the buyer’s name, date, and confirmation of item handover.

• Update the sale as "complete" only after shipment or pickup is done.

Using a central tool (even just your spreadsheet) to log these details prevents disputes and helps with customer service.

Bonus Tips for Staying Organized

• Keep paper receipts or digital copies for all purchases and expenses. Store them by date for easy reference.

• Back up your records: Use cloud storage or email yourself a copy of your spreadsheet regularly.

• Review your cash flow weekly to spot potential issues early.

• Automate where possible: As your business grows, consider tools that automatically pull sales and expense data from marketplaces.

• Use simple naming conventions for files and inventory numbers to prevent confusion.

Useful Resources

• Google Sheets Getting Started Guide

• Inventory Management Basics

• Gavelbase for advanced multichannel syncing and tracking

Conclusion

Tracking your cash flow doesn’t have to be complicated or time-consuming. Start with a central log, keep your inventory and sales channels up-to-date, assign simple roles, and log every sale and expense. By making these habits part of your daily or weekly routine, you’ll have a clear view of your business’s health—and fewer surprises down the road.