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I am looking for an application that will allow me to track profits from reselling.

The basics are simple, buy something for one price and sell it for a different price.

Profit = Sell Price - Purchase Price - Shipping

But I also have groups of things I've purchased, like a bag of books for $1 and I sell the books individually.

Profit = Sell Price - (Purchase Price / # of Books) - Shipping

I'm unsure if that is a good formula it's just an example.

I am looking to keep track of several things other than just profits. I want to track data like:

  • Date Purchased
  • Place Purchased From
  • Description of Purchased Item
  • Number of Items purchased if in a group or lot
  • Purchased Price
  • Sell Price
  • Profit
  • Place Sold / App Sold On
  • Shipping Cost
  • Date Sold
  • App Paid
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  • Hi. You could probably use software for financial stocks/shares for this purpose, since can track profits that way. You would have to treat your items like "stocks".
    – Z Z
    Mar 23, 2023 at 18:26
  • @ZZ Do you know of any in particular that I can test out?
    – Mike
    Mar 23, 2023 at 18:37
  • You can do any formulas you want in any spreadsheet program (Excel, Google Sheets, OpenOffice Calc, Gnumeric , many others). A quick web search turned up a few reseller-focused pre-made excel spreadsheets out there. Mar 24, 2023 at 11:12
  • @MichaelKohne I have already created a spreadsheet with a bunch of formulas. I'm looking for an application that already does all of it.
    – Mike
    Mar 24, 2023 at 14:34
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    @RohitGupta what standard accounting program?
    – Mike
    Mar 29, 2023 at 20:01

3 Answers 3

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As mentioned in comments above, to summarise:

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It seems to me that you are looking for a standard accounting program. Almost any will probably do what you want. These are the ones I have used recently

waveapps is cloud based and free to use. They make their money on payments to you (if made by credit card). I found it really easy to use. However I decided that I wanted all my data on my desktop, so I switched.

Track your income and expenses, painlessly Tax season doesn't have to suck. Track your income and expenses, easily and for free, with Wave’s accounting software.

Cashbook Complete is not free, but cheap to purchase. Although it is targeted to NZ, it will work for you. It has advanced features for its price, but the UI would be considered outdated by many people.

Is Your Accounting Software Too Complicated to Use? For most small business owners, bookkeeping is a chore.

Does it sound like mumbo-jumbo when you hear terms like “double entry accounting”, “general ledger”, “accounts receivable”, and so on?

Most accounting packages are just too complicated, and unforgiving of errors for the typical small business owner!

Here is a list of from Forbes of more international versions. I have seen good reviews on GnuCash (Linux, Mac and Win versions).

The Best Free Accounting Software of 2023
NCH: Best for Financial Analysis
Zoho Books: Best for Zoho Books
ZipBooks: Best for Invoicing
Sunrise: Best for Profit and Loss Statements
GnuCash: Best for Linux
TrulySmall Invoices: Best for Freelancers
Wave Accounting: Best for Ease of Use

Disclaimer - I am not associated with any of them.

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I do not see anything there that is not in the realm of a quickbooks account.

You could do it easily with an excel/sheets/calc spreadsheet too, but it would require some spreadsheet knowledge.

Assuming all the information has to be entered not imported form some other source, small business accounting sounds like the goal, and there is just about no entry level easier than QB online.

https://quickbooks.intuit.com/online/

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  • Once again, please link to the software you're recommending, also a bit more detail about it could be nice.
    – Destroy666
    Aug 30, 2023 at 22:10
  • I am already tracking everything with Excel, I've got it set quite well I think, but I want something ready-built to make it easier
    – Mike
    Sep 13, 2023 at 20:23

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