How to set up your first month of books

Bookkeeping in resale is mostly inventory tracking. If you know what each unit cost and what it sold for, the statements almost write themselves.

Set the categories once and never change them. Comparability is the whole value.

One account, one card

Every business transaction goes through them. No exceptions in month one.

Inventory purchases, freight, parts, rent, utilities, fuel, wages, insurance, software, fees, interest.

Purchase date, load, landed cost, grade, location. A spreadsheet is fine to start.

Sale date, price, channel, fees. That is COGS and margin in one row.

Fifteen minutes weekly beats four hours at month end.

P&L and an aging report on the same day every month.

A single spreadsheet with a units tab and an expenses tab produces a defensible P&L in the first month.

COMMON MISTAKES

Categorising inventory purchases as an expense instead of tracking them into COGS on sale.
Reconstructing three months of receipts at once.
Renaming categories mid-year.

Not ready for truckloads yet? Keep building.

REGISTIX RESERVEKeep building.