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[T-Satt]

One question for those that are on Managed Payments: When you get your receipts into your bank, are you receiving a lump sum for the day? Or transaction by transaction?

I’m still wanting to see how I will get the data breakout for each sale when we are all forced to Managed Payments. My CSV process from PayPal is spot on now and ties to the penny. Wondering what I’m going to get down the road.

[T-Satt]

@SEAM: That whole process was music to my ears… 🙂

[T-Satt]

Week of 08/25-08/31
Total Items in Store: 3,386 (Up 27% YOY)
Number of Items Listed: 60
Number of Items Sold: 61 (Up 7% YOY)
(Includes 0 Etsy, 6 Poshmark, 0 Bonanza, 0 TrueGether)
Weekly STR: 14% (Up 2% YOY)

Total Product Sales: $1,957 (Up 23% YOY)
Sales Volume Variance to Prior Year: Up $112
Sales Price Variance to Prior Year: Up $253
Cost of Items Sold: $294.67
Cost of Labor: $252
Highest Item Sold: $225 – Lucchese Boots
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 21-15.

Clothing
# Listed: 1,947
# Sold: 41
STR: 9%
ASP: $28.49

Shoes
# Listed: 859
# Sold: 16
STR: 8%
ASP: $44.25

Hard Goods
# Listed: 580
# Sold: 4
STR: 3%
ASP: $20.42

EBay
# Listed: 3,386
# Sold: 55
STR: 7%
ASP: $32.39

Etsy
# Listed: 213
# Sold: 0
STR: 0%
ASP: $0

Poshmark
# Listed: 870
# Sold: 6
STR: 3%
ASP: $29.33

Low number of listings again this week since we returned from Montana. This upcoming week will be low too, as Veronica is in California visiting her mom and sister, and I will be doing the contract accounting gig for two days…I think…

That gig has been going for 4 years, and I had a feeling it may be ending, and sounds like it will. But, I have a line on a new gig, but this time it is full time. Lower pay (but that is to be expected at this point), but looks like a great company (outdoor equipment manufacturer) and since it is a lower level job, and they don’t overwork themselves, I should have plenty of time to keep working eBay in the early morning, then this job during the day. Final interview is on Wednesday, so I’m hoping to have some changes soon.

Like J&R are doing now, nice to have a separate stream of income. Veronica and I have some big plans for the next 20 years, and lots going in the next 2, so we are leveling up. She is looking at a couple of part time gigs too, just to have another small stream coming in that is non-eBay related.

It is amazing how much time we have now that we are empty nesters…. 🙂

[T-Satt]

Shipped out 81 items in 2.5 hours…Benefits of prework, storage system, and the items we sell…

[T-Satt]

@Jay: I agree with Tedmudgin. If I purchased it for personal use and then sell later at a lower price, I put the COGS as my Selling Price. $0 profit on your financials and $0 tax to pay.

PayPal sends a report of your Gross Revenue, not your profit. The COGS we keep in our financials will wash out the profit on that sale.

[T-Satt]

Amen brother! This isn’t one of those, though I always go into these with one hand firmly on my wallet (to ensure it stays there).

We have numbers and a plan already set, hoping that this will give us contacts and maybe an idea or two.

Goal now is that the first is up and done by Q2 2020.

[T-Satt]

Week of 08/18-08/24
Total Items in Store: 3,358 (Up 29% YOY)
Number of Items Listed: 62
Number of Items Sold: 107 (Up 62% YOY)
(Includes 1 Etsy, 5 Poshmark, 0 Bonanza, 0 TrueGether)
Weekly STR: 14% (Up 2% YOY)

Total Product Sales: $2,977 (Up 52% YOY)
Sales Volume Variance to Prior Year: Up $1,215
Sales Price Variance to Prior Year: Down $194
Cost of Items Sold: $487
Cost of Labor: $126
Highest Item Sold: $150 – Lemax Movie Theater
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 20-15.

Clothing
# Listed: 1,922
# Sold: 72
STR: 16%
ASP: $26.27

Shoes
# Listed: 850
# Sold: 23
STR: 12%
ASP: $28.19

Hard Goods
# Listed: 586
# Sold: 12
STR: 9%
ASP: $36.36

EBay
# Listed: 3,358
# Sold: 101
STR: 13%
ASP: $27.02

Etsy
# Listed: 212
# Sold: 1
STR: 2%
ASP: $94.87

Poshmark
# Listed: 866
# Sold: 5
STR: 2%
ASP: $30.40

Will listen shortly as we start to ship. Gone for a week to Montana to help my mom, so now we have 80 items to pack up this morning before we go to a Real Estate seminar this afternoon. Changes coming on this side for the next couple of years…

Funny your title of Work. Yep…that is what we are doing!

[T-Satt]

@Jay: Yes, Sales $ are up 66% over the same week last year. $2,866 this year vs $1,738 last year.

This is mostly volume, and some on increased pricing. If you look at the Volume Variance and Price Variance that I put out each week, you can see that.

In this week’s case:

We are up $790 on higher Volume – 96 sales this year vs 66 sales last year @ last years average selling price of $26.34 = $790

We are up $357 on higher Price – $30.06 ASP this year vs $26.34 ASP last year on 96 items sold = $357

That is precisely why I do this each week. I can see if I’m up or down, and the Volume and Price Variance tells me why.

[T-Satt]

@Khakushia: Yeah…not good. The bank won’t know spit except that cash was deposited. All the data relating to the sale would have to come from eBay.

Take last week for example: We had 87 cash transactions into PayPal. Those have to be broken out between Sales, Shipping Revenue, Sales Tax Collected (for Colorado Sales), and take out the fee. Before I got a process to do this with Excel and CSV2QIF, it took too much time to do manually. I already have that problem with Etsy (their cash management process is REALLY bad).

Thanks for the heads up. If you don’t mind, can you see if there is anything you have on the ebay side that details the breakouts of each deposit? They have to have that to reconcile their own books too…

[T-Satt]

Kakushia: Thanks for being on the front lines on this.

Question on the daily deposits. What kind of data are you getting and in what form? Right now, I download the PayPal weekly activity into a CSV and cut and paste into an excel file. This gives me the breakouts for Sales, Shipping Revenue (what the buyer paid for shipping), Sales Tax, and Fees.

1) Is there a similar breakout for each daily deposit?
2) Is there a CSV or some other download that can be done with this? I would want to make sure I can correctly account for each penny that hits the bank account each day.

Thanks!

[T-Satt]

Sigilini: Thank you so much for letting us all know about this!

For any SixBit users, you can quickly find out what items need to be changed. In your Check Listings, you can make sure that Shipping Preset, Wt. Maj, Wt Min, Length, Width, and Depth are showing for your listings. You will then be able to scroll through your listings seeing anything that is above 12x12x12 (if you want, you can use the QBE line and filter for anything >12) and then change your preset to one that has FedEx Ground as the primary. We created a new preset, and already changed a few.

We will keep this as a work project we can do in Montana by connecting remotely to our SixBit computer.

Thanks again Sigilini!!!

[T-Satt]

Week of 08/11-08/17
Total Items in Store: 3,387 (Up 33% YOY)
Number of Items Listed: 141
Number of Items Sold: 96 (Up 45% YOY)
(Includes 0 Etsy, 10 Poshmark, 1 Bonanza, 0 TrueGether)
Weekly STR: 12% (Up 1% YOY)

Total Product Sales: $2,886 (Up 66% YOY)
Sales Volume Variance to Prior Year: Up $790
Sales Price Variance to Prior Year: Up $357
Cost of Items Sold: $528
Cost of Labor: $263
Highest Item Sold: $175 – Tecovas Boots
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 19-15.

Clothing
# Listed: 1,949
# Sold: 61
STR: 13%
ASP: $28.47

Shoes
# Listed: 845
# Sold: 23
STR: 12%
ASP: $37.92

Hard Goods
# Listed: 593
# Sold: 12
STR: 9%
ASP: $23.09

EBay
# Listed: 3,387
# Sold: 86
STR: 11%
ASP: $28.38

Etsy
# Listed: 216
# Sold: 0
STR: 0%
ASP: $0

Poshmark
# Listed: 862
# Sold: 10
STR: 5%
ASP: $44.50

Congrats on the new rental. Always nice when a new little gold mine starts to produce income. One little mine at a time. We are looking to get into the game ourselves very shortly. Stay tuned…

Trying to crank away today and tomorrow. Veronica and I are leaving Wednesday for a 1 week trip to Montana to help out my mom on some projects. After that we have the Junk Jaunt at the end of September, and my hunting trip in late October (that Veronica may hang with me a few days at the beginning, which would be GREAT!), then the hard push through the holidays. Where has the year gone…???

[T-Satt]

@Jay: Right now, individual stocks. Depends on where I see value (I buy stocks like I source for ebay…look for value).

I may use it shortly for Bitcoin, as you can purchase that on Robinhood as well. I just have to get my head on a solid value for Bitcoin. But the best way to care and learn is to have skin in the game…

[T-Satt]

Congrats Winchester!

[T-Satt]

Just checked our return from last night (8/11). Buyer has until 8/19 to return. Not sure why not 8/18, but about 5 business days…

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