Introduction #
After completing the My Business tab information in the Reseller Toolkit, setting up the Inventory tab should be your next step. The Inventory tab collects all information related to items that are owned by your business that you plan to sell. These may be items that your business purchased or that you have on hand to sell on behalf of other people (so on consignment).
Each inventory item is populated in one horizontal row. If you have more than one of a given item, you must use multiple rows, each with unique titles (yes, it’s fine to append an identifier to the end of a title). Remember that the ID and Status columns are populated automatically, so you shouldn’t make any changes to them manually. If you’re not sure what a column is for, you can click the column heading to read a tooltip with more information, as shown in the screenshot below (screenshots can be clicked to see the image in more detail).
Columns #
ID: This column adds a unique identifier to each inventory item that’s used in the Sales tab to make it easier to make sure you’re tracking sales to the correct inventory item. It’s generated automatically and should not be changed.
Item Title: The name of the item. This must be unique (and you will receive an error if you try to use the same name twice).
Category: The category of the item, based on categories that you defined on the My Business page.
Purchase Date: The date the item was purchased, in the format 12/31/2025. Note that all purchases in the current year are included in reporting, so if you have inventory purchased before January 1, 2025, or you don’t want an item to be reported on in other tabs, enter a date before 2025.
Listing Date: The date that the item was made available for sale.
SKU (optional): If you use SKUs to track your physical inventory in your home or workspace, enter the identifier here that will help you locate it when it sells.
Bin (optional): As with SKU, this field can be used to track physical inventory in whatever storage system you use. If you want to see all items in one of your bins, just use the lined inverted triangle icon in the column heading to sort or filter by bin number.
Cost: The price that you paid for an item, excluding tax. If the item is something you didn’t pay for, such as an item you’re selling on commission for someone else, record the price as $0.
Tax (optional): If you were charged tax for this purchase, enter it in this column. The value entered will help you track tax owing in other worksheets.
Supplier: This identifies where you purchased the item from the list you entered in the My Business tab. This selection is important, as it’s used for reporting and to track commissions in other tabs.
Status: When you first enter items, they are assumed to be in your inventory. When you mark items as sold in the Sales tab, the status column here will be automatically updated to indicate an item as sold. Sold items are excluded from your total assets in the Balance Sheet.