Help Sales, customers & money Record an expense
Record an expense
The costs that belong to the business rather than to any one item, and that quietly decide your real profit.
In Insights, add an expense with an amount, a date and a category.
Item costs answer "what did this jacket cost me". Expenses answer "what did running the shop cost me", and the yearly net needs both.
The categories
| Category | Typically |
|---|---|
| Supplies | Boxes, tape, mailing bags, tissue paper, labels. |
| Postage I paid myself | Postage you paid out of your own pocket rather than through Vinted. |
| Sourcing | Travel to a car boot sale, entry fees, a job lot bought as one. |
| Fees | Charges that are not already deducted from a sale. |
| Subscription | Tools you pay for monthly, this one included. |
| Other | Everything else. Use the description; future you will not remember. |
What not to record twice
Vinted's own fee and the postage the buyer paid are already taken out of what reaches you, and Flogit reads them from the order. Entering them again as expenses subtracts them twice and makes your year look worse than it was.
The rule: if the money never touched your account, it is already handled. If it left your bank, it is an expense.
Where it shows up
In the yearly view: Gross revenue minus Cost of goods minus Expenses gives Net profit. That bottom line is the one that matters for tax, not the top one.
Export PDF writes the whole thing as a PDF you can hand to an accountant.
A box of mailing bags in March is four euros you will never reconstruct in January. The whole reason this exists is that reconstructing a year of small costs from memory is impossible, so the figures end up understated and you pay tax on profit you did not make.
Related
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