Are you getting bogged down in paperwork trying to account for inventory?
The number one question from students of my QuickBooks for Amazon Sellers course has to do with how to post RA receipts in the most efficient manner. Tracking inventory Cost of Goods Sold in the accounting software requires a cost to be input. That sounds easy and it is sometimes. The problem arises when we get those long RA receipts from stores in which we source products. Of course, we take advantage of every discount coupon, sale, reward program and percentage off we can get. All that can cause our brains to get garbled when trying to figure our costs.
With so many students struggling with RA receipts, I had to take action.
I’ve created an Excel spreadsheet that is easily used in Google Sheets, as well. It is basically a calculator that helps sort out the RA receipts into easy to understand figures you can post into accounting. There is space to add the item name and another for UPC/store SKU, so it is easy to determine each product without confusing or missing items. I even included a couple of additional calculators to the distribution of sales tax and shipping, should you want to use the spreadsheet to work on OA invoices.
Introducing the Ultimate RA Receipts Calculator Spreadsheet
If you are like most sellers, cost accounting is not your favorite thing to do with your time. Unless you can afford to hire someone else to do it, you’ll end up spending lots of time sorting out all those great buys. You know what I am talking about. Those long Target receipts with 20 different items and RedCard discounts, or those Walmart receipts with lines and lines. It’s not just those receipts, but also those fantastic OA purchases with gift cards, discount codes, shipping, and rewards. Then you have to figure out the cost of a bundle or multipack and get all this into your accounting. Sounds like a ton of work.
Wouldn’t you love a quick calculator spreadsheet you can save for each receipt or just use over and over? This one has saved me lots of time costing my inventory and I wanted to make it available to fellow sellers.
Grab your receipts
Open the spreadsheet
Run down the receipt plugging in the purchase price, discounts, sales taxes, shipping
Each item is totaled individually and tallied to come up with the total receipt amount
Multipacks cost can easily be figured by inputting the total packs or fractions of packs
Bundles also have a calculator for different product prices
Some states collect different amounts of sales tax depending on products purchased, the calculator can average the tax so you don’t need to
Spread shipping across all products for OA orders
Excel file with .xlsx extension (compatible for Excel 2007-2016) called Ra Receipt Calculator etsy.xlsx Please save a copy in a folder on your computer. Then each day you need it, open the template and Save As by adding the date. This will preserve your template while creating a new spreadsheet.
Access the Google Sheets copy with the link on the Word document.
You will need Microsoft Office Excel installed on your computer, as well as a basic understanding of how the program works.
The template was created in Office 365, which has an .xlsx extension.
Because of the nature of this product, a digital download, no refund available. Be sure to view sample images prior to purchase.
A little about Vicki
With more than 30 years of experience in accounting and 5 years in Amazon FBA, it is my desire to share with other sellers how to keep accurate records the easiest way possible.
My courses and spreadsheets result from student questions or problems that they need help to solve. I hope you are able to find something on my site that helps make your life a little easier and more enjoyable.
When I’m not working on my business, I am homeschooling my high school son. You think Amazon accounting is a challenge! Just kidding. My husband and I are blessed to be raising such a wonderful young man. Y’all can still pray for us, though. 🙂
Important: Information in this document does not constitute tax or legal advice and must not be used as such. If you have tax or legal questions, please contact your professional adviser. Any course offered here is simply to demonstrate how to use the accounting software or spreadsheets.
© Southern Mom Flair - All template designs and courses are for your personal business use only and may not be resold or redistributed under any circumstances.