Spreadsheets [sale]

[stackerp5]

Good morning forum! Got a question on spreadsheets and "tracking bought/sold items".

I like to keep purchases on a spreadsheet, but I've just made my first sale and I'm not sure how/what should I do to "register/track" it: "who bought it, what item, £ sold for, calculating profit/loss, any notes", etc.

I would like to know how/if any of you have an excel spreadsheet for sales? How does it work? Is it another page within the same document I imagine? I would like to do something like keeping stock and tracking profits (or losses) in a sort of balance sheet on another page with descriptions/notes, but then again how do I reflect that on my initial purchase register (page)?

 

[Pottedbeef]

1 hour ago, stackerp5 said:

Good morning forum! Got a question on spreadsheets and "tracking bought/sold items".

I like to keep purchases on a spreadsheet, but I've just made my first sale and I'm not sure how/what should I do to "register/track" it: "who bought it, what item, £ sold for, calculating profit/loss, any notes", etc.

I would like to know how/if any of you have an excel spreadsheet for sales? How does it work? Is it another page within the same document I imagine? I would like to do something like keeping stock and tracking profits (or losses) in a sort of balance sheet on another page with descriptions/notes, but then again how do I reflect that on my initial purchase register (page)?

 

Morning!

I usually insert a line on the same spreadsheet below the item sold and fill in the same details but put a -ve amount in equal to the cost and weight. This then ensures the total number and value figures for your purchases are correct. After that I use additional columns to the right to put in sale price, profit and any other details of the sale.

It depends how you are set up and what you find easiest to do on an ongoing basis.

My sheet might be a bit messy but it's easy to see the detail of the sale and original coin/cost etc as it's all over the two lines. Also it ensures an up to date running total of weight and value.

[dicker]

Hi - I use double entry book keeping - just because its what I know and this works very well.  

I have a General Ledger (Top level) and a Subledger for metals.

Best 

Dicker

 

 

[Pottedbeef]

9 minutes ago, dicker said:

Hi - I use double entry book keeping - just because its what I know and this works very well.  

I have a General Ledger (Top level) and a Subledger for metals.

Best 

Dicker

 

 

Debit the door, credit the window 🤓

[dicker]

I have always worked for investment banks and while double entry book keeping is absolutely central managing their trading inventory and activity, I am always amazed how few people understand anything about it.

When I draw up T accounts to explain how to control inventory, tax, risk etc etc people look at me like I am talking a different language.

I am not even a trained accountant!

Best

Dicker

[GoldStatue]

Do you all keep copies of your receipts/delivery notes of your PM purchases on top of logging them onto a spreadsheet?

Currently I keep mine but I'm never 100% sure if it's necessary and am sure in 10 years time it's going to be mountain of paper.

[Fivepoundfred]

I use an Excel spreadsheet which i have created to cover most of the items that you have mentioned. You can manipulate the sheet to cover whatever you want in the order that suits you best.

I keep all receipts and invoices for purchases and sales in paper form and when i sell a coin i staple the purchase and sale paperwork together.

[Paul]

here's the spreadsheet i have supplied to dozens of folk on the forum over the years. does the job for "average joe stacker " 

its in .ods format for use with OpenOffice

Stack Spreadsheet.ods

[MLNCoins]

1 hour ago, dicker said:

I have always worked for investment banks and while double entry book keeping is absolutely central managing their trading inventory and activity, I am always amazed how few people understand anything about it.

When I draw up T accounts to explain how to control inventory, tax, risk etc etc people look at me like I am talking a different language.

I am not even a trained accountant!

Best

Dicker

The thing to remember about it though, is that it is pretty much a different language. When you have someone who has no experience in using this type of system, or has any background in it, its an extremely difficult concept at first. Especially when you have to understand that for every debit there is a credit, and then when you have the subsidiary accounts for business's they then go the opposite side to the general ledger! Its overwhelming for a lot of people and it was for me when I started. Like with anything, its practice.

 

[Pottedbeef]

On 05/02/2021 at 13:38, dicker said:

I have always worked for investment banks and while double entry book keeping is absolutely central managing their trading inventory and activity, I am always amazed how few people understand anything about it.

When I draw up T accounts to explain how to control inventory, tax, risk etc etc people look at me like I am talking a different language.

I am not even a trained accountant!

Best

Dicker

Yes but once people get the principle of it you realise how useful it is, specifically from a control point of view. You can't physically lose a transaction

[Pottedbeef]

On 05/02/2021 at 14:17, Paul said:

here's the spreadsheet i have supplied to dozens of folk on the forum over the years. does the job for "average joe stacker " 

its in .ods format for use with OpenOffice

Stack Spreadsheet.ods 33.71 kB · 16 downloads

This is cool 👍

[cliveb13]

I could have done with this advice, this forum, this thread when I started 8 years ago. I bought various bits because I loved, and still do, the idea that I have something rare & unique. All the Rhodium in the world would only 2/3 fill the room I type this from . And I own a couple of pieces. And Pt is not quite the same but it’s not huge. 
so I never envisaged why I would want or need to sell. I didn’t keep receipts especially for things bought on forum , eBay , personal . Now with the Treasury needing money, capital gains tax looks set to increase & expand & very sadly neither of my kids look remotely interested in having a chunk of Pt or a slice of Pd. Overall I have made a profit but really it’s theoretical as I don’t want to liquidate, what has been an interesting hobby. I should have kept track more I guess, but it’s not a business 

thanks for the spreadsheet @Paul  I am gonna start tracking what I have 

good luck 

Clive