Purchases

The Purchases module helps you track where and how you acquire your inventory.

Overview

Every item in your inventory came from somewhere. Purchases help you track:

• Where you bought inventory
• What you paid
• When you bought it
• Purchase details for tax purposes

Purchase Information

Common Sourcing Methods

Retail Arbitrage

Buying from retail stores at a discount:

• Clearance items
• Sales and promotions
• Coupon deals

Thrift Stores

Finding items at thrift and consignment stores:

• Goodwill
• Salvation Army
• Local thrift shops

Garage/Estate Sales

Buying from individuals:

• Garage sales
• Estate sales
• Moving sales

Online Wholesale

Purchasing from online sources:

• Wholesale suppliers
• Liquidation lots
• Pallet deals

Auctions

Buying at auctions:

• Storage unit auctions
• Estate auctions
• Online auction sites

Recording Purchases

1. Go to Purchases in the sidebar
2. Click Add Purchase
3. Enter the source (create a Contact if needed)
4. Add purchase date and total
5. List items purchased
6. Save

Linking to Inventory

After recording a purchase:

1. Create inventory items for what you bought
2. Reference the purchase for cost tracking
3. Costs flow through to profit calculations

Tracking Sources

Use Contacts to track suppliers:

• Name the source clearly
• Categorize as "Supplier"
• Track multiple purchases from same source
• Analyze which sources are most profitable

Purchase Receipts

Keep records of your purchases:

• Save physical receipts
• Take photos of receipts
• Note reference numbers
• Important for tax purposes

Best Practices

1. Record immediately - Enter purchases as soon as you make them
2. Include all costs - Don't forget tax, shipping, or fees
3. Be specific - Note exactly what was purchased
4. Track sources - Analyze which sources work best
5. Keep receipts - Essential for taxes and returns