How to manage the inventory and sales of personal items

As a fashion reseller, we often find inventory in our personal closets. These are items we purchased for our own personal use, wore a few times or not at all, and are now ready to part with them. Many of us started out selling our personal clothes and even if we didn't purchase them for resale, it is good to keep track of those sales as well.

The workbook allows you to distinguish your sales between resale and personal items. In addition, you can these items into inventory but that’s really up to you.

Sold a personal item?

When entering the sales information for a personal item, go to column ## on the right and change the dropdown from Resale to Personal. What does that do? When you scroll all the way to the bottom of the Summary tab, there is a summary of all of the sales that were marked as Personal for Sales Type. Please keep in mind that the summary with the grand total at the top does include these sales. These sales are also included in the summaries by platform. Therefore, you cannot add all of the summaries for the platforms together plus this ‘Personal’ section to get total sales.

What about inventory ID?

When entering the sale, you can omit an inventory ID and the sale will not have a cost. If you do track the item in the inventory tab, just enter the associated inventory ID#

Should I enter my personal items in inventory? 

This is up to you. My personal choice is to store my personal items together and not enter the items into the inventory tab. If you do enter the items in th inventory tab and put $0 as the cost, the item will not be counted "in inventory" in the statistics at the very top. When entering your personal items, I recommend putting down "Personal" or something similar for the 'Store'. That way in the future, you can separate out that inventory.

Reach out to me if you have any additional questions on this topic!