If your stock isn’t tracked, you’re guessing. Stoqit keeps the essentials—what you have, where it lives, what it cost, and what it’s worth—front and center, so you price confidently and free up stuck cash.
Why track at all?
- Price with confidence using true costs and target margins
- Spot dead stock early and act before cash gets stuck
- Stay tax‑ready with accurate COGS and inventory value
Key ideas (plain English)
- SKU: your item code (e.g., SH‑001)
- COGS: cost of goods sold—what you paid
- Status: listed or sold determines accounting
- Location: bin/shelf where it lives for fast picking
- Category: group by type to filter and report
What to capture
Purchase price/date, SKU and location, photos/source link, category/condition/size, and current status. When sold: sale price/date and marketplace.
Do it in Stoqit (the loop)
- Add new purchases in Inventory with cost, date, category, SKU (auto‑generated if enabled), and location
- When you list, set status to Listed and choose a marketplace
- When it sells, add sale price/date and mark Sold—Stoqit moves cost to COGS and applies fees
- Use filters/dynamic tables to spot ageing stock (e.g., listed > 60 days)
Time savers:
- QR codes: print, stick, scan to jump to items
- Category SKU prefixes: tidy numbering without thinking
- Reports: sell‑through, listings/sales, and net profit guide sourcing
→ Start with Inventory: /inventory
Metrics that matter
Watch sell‑through rate, days to sell, average buy vs sale price, gross margin, and net profit.
Pricing clarity (quick check)
Pair cost $30; marketplace ~13% + $0.30; label $6. Gross ≈ 0.87×P − 36.30. Want $20 gross? Solve 0.87×P − 36.30 = 20 → P ≈ $64.71. Price $65–$69 to leave offer room. With Stoqit tracking, this is a glance—not a guess.
When does cost become expense?
Unsold inventory is an asset. It becomes COGS when marked Sold. Returns: reverse the sale, restore to inventory, note condition. Damaged? Adjust value so you don’t overstate inventory.
Keep reality in sync
Monthly 2‑minute bin check: confirm contents, fix mismatches, add a quick note (e.g., moved to B3). Tiny cycle counts prevent big surprises.
Aging and liquidation plan
At 30 days: refresh photos/keywords. At 60: reduce to quick‑sale range. At 90: bundle, cross‑list, or clear to free cash. Decide thresholds ahead of time.
Common pitfalls
Skipping SKUs/locations, not recording cost, mixing personal with inventory, and only tracking sold items—all hide where money goes.
FAQ
Do I need barcodes?
No. Start with SKUs and clear locations. Add barcodes later if volume demands it.
How many categories?
Begin with a handful; split when one grows large.
What if I sell bundles?
Track each item’s cost; when the bundle sells, allocate revenue by proportion or treat as a set in notes.
Next steps
Learn SKUs: /blog/how-to-sku-and-catalog-items
Track expenses: /blog/how-to-track-expenses-as-a-reseller
Understand profit: /blog/gross-vs-net-profit-for-resellers
Quick scenario
You add three pairs at different costs with photos, SKUs, and locations. Two sell; you mark Sold and Stoqit computes gross/net with your fee rules. The third ages past 60 days; your ageing view flags it, you adjust price, and it sells. The loop—capture, list, review, adjust—becomes predictable.
Monthly review
Open reports and answer narrative questions: too much cash in slow categories? Shipping higher than expected? Buy costs drifting up? Act on those answers—what to source next, which listings to refresh, where to cut costs. With clean data, decisions are obvious.