Profit tracking - online tools?

#1

Hello!

I know the obvious answer is going to be ‘make an excel spread sheet’ but bare with me

I have an excel spreadsheet detailing COGs, amazon fees (inc VAT), net profit, ROI % etc. Although I am fairly certain my products are profitable, what I would now like to know is, ‘how is my business doing, is it profitable?’

My spreadsheet has not accounted for things like returns/refunds, storage fees, professional seller fees etc. I would be keen to have something that ties all this information together. I have tried to use ‘shopkeeper’ but found it frustrating as for several items it doesn’t seem to be able to figure out that I am using S&L (and yes I am definitely paying S&L fees because I checked my inventory and it doesn’t match what ‘shopkeeper’ is reporting)

Any advice would be gratefully received

PS: I am not anti spreadsheet!!

Do you guys track your daily /weekly/ monthly profits on a spreadsheet?
How do you manage all the additional fees (e.g. storage, professional seller fees)

I hope this late night rambling makes some sense. Sorry it’s so long!

#2

I just track mine on a spreadsheet, which I’m supposed to update monthly but in reality I don’t

#3

anymore for anymore …

#4

Take a look at Sellerboard. It will do as you want, though it’s not perfect at all.
It will take into account things such as returns/storage fees/advertising etc.
But what it doesn’t do, is as the cost prices rise, it includes the higher price on the older sales.

As a general guide though, it does fairly well.

But to track full profits overall, your better of using a proper accounts package such as Sage/Xero etc.

#5

Sellerboard actually has a function where you can set dates for cost prices, so if product A’s cost goes up today you can input today’s date and it will take the old price in account for orders before that date. Not the easiest to work with though IMO

#6

I’ve asked them about that and they basically told me there was no way! Gahhhhh. :slight_smile:
Do you happen to know what the function is called, or where it can be found please?

#7

Oh, strange, their support must be of great quality :rofl:
I haven’t used them past my trial period lol but just going through the demo:

On the products tab u use the COGS type ‘by period/batch’
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And then you can add periods to your COG

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There is also a way of doing a csv upload with these dates if you have a lot of products to edit, but you’ll have to look into how that works exactly.

#8

thank you @NEil

#9

To be honest, their support isn’t great.
But the big plus for me using this software, is it regularly tells me when Amazon haven’t paid on refunds etc. It literally pays for itself. :slight_smile:
First time I did it, I managed to get a refund from Amazon for about £1500!

So it’s useful as a guide to where your at on a day to day type basis. I certainly wouldn’t base actual accounts on it.

#10

Oh that’s great, we don’t do FBA at the moment but it’s quite a useful tool for sure. Do you use the auto mailer function? Wonder if it could increase feedback left.

#11

Most definitely not. When I first started I used feedback express for a little while and to be frank, it made absolutely no difference whatsoever.
And these days, they are a lot more proactive about issues with asking for feedback, so it’s not worth the chance of their being a problem.

#12

Have a look at “Manage by Stats” not expensive and great when you have built up some history.

#13

I’ve not used Sellerboard but Seller Tool Kit is also a good one that i’ve used since starting out. It also has a repricer built in which I feel is quite advanced in comparison to others that i’ve used in the past.

#14

I use pandle, it’s free and works for me. I can log my sales, expenses, refunds for examples such as returns

I log my sales daily and expenses daily other than my amazon fees, which I do a report for at the end of the month, well actually the day after the end

#15

Sellertoolkit. Great customer service with any queries also

closed #16

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