Read this first:

You finished set up, congrats! Now you just need to stay on top of your numbers. This article will help to provide you insight based on what plan you use and how you account for inventory. Read the instructions that relate to your inventory accounting method. If you don't know the difference between the cash inventory method and the accrual inventory method, read this article: What is the difference between the cash inventory method and the accrual inventory method?

Premium Subscription Users

Premium provides more functionality for its users -- this plan will work for folks using either the cash inventory method or the accrual inventory method.

If you use the accrual inventory method:

Inventory

When you buy new inventory, enter it into My Reseller Genie with the purchase date and purchase price. Some folks like to wait until they've listed it to add it to MRG -- that's ok, but make sure to have everything added that was bought in a given year before filing taxes for that year (this keeps your inventory balances from changing).

You can either add new inventory using the "Add Inventory" button in MRG or you can build uploads of new inventory using a spreadsheet program like Excel or Google Sheets. Be careful about uploading though -- if you upload a piece of inventory that's already entered in MRG, this will create duplicates. You can upload new inventory files by clicking “Add Inventory” > “Bulk Upload” then following the prompts on the screen, uploading your file, and mapping the columns using the dropdowns.

Sales

When you make new sales, enter them into MRG with the "Report Sale" button. On the "Report Sale" form, there are info icons explaining what to put in each field.

Refunds

When a sale is refunded/cancelled/returned, find the sale and record a refund. You can do this using the instructions in this article: How to enter returns/refunds/cancellations.

Expenses

You can track expenses associated with sales by filling out all the fields on the "Report Sale" form. However, any other expenses will need to be tracked separately.

You can either add expenses manually, by upload, or via bank/credit card integration.

• • • To manually add expenses, click the “Add Transaction” button on the left menu and fill out the form.
    • To upload expenses, click “Add Transaction” > “Bulk Upload”. Next, follow the prompts on the screen, upload your file, and map the columns using the dropdowns.
    • To connect your bank account/credit card, follow these instructions: How to connect your bank account/credit card to pull transactions into the expense detail. Once your account is connected, new expenses will come through automatically. A notification will prompt you to review the new transactions, add descriptions, and assign them to general ledger accounts. If you'd like to create a rule to assign a general ledger account and description for expenses with a given "Charge Description", click the checkbox on the far right of the "Categorize Expenses" screen. If a transaction is not an expense, MRG supports a full chart of accounts, so you can create and assign any general ledger account necessary.

If you use the cash inventory method:

Inventory

Your inventory will be entered in the expense detail when you purchase it. During set up, if you select "Cash Inventory Method", MRG will create a general ledger account for you called "Inventory Purchases". You can add attach this account to your inventory purchases.

Sales

When you make new sales, enter them into MRG with the "Report Sale" button or upload them.

On the "Report Sale" form, there are info icons explaining what to put in each field.

If you upload the sales, make sure to only upload new sales. You can upload sales using Report Sale > Bulk Upload > Upload without matching to inventory > select report type. You can upload a Mercari sales report, Poshmark sales report or you can upload another sales report and map the columns to MRG fields.

Refunds

When a sale is refunded/cancelled/returned, find the sale and record a refund. You can do this using the instructions in this article: How to enter returns/refunds.

Expenses

You can track expenses associated with sales by filling out all the fields on the "Report Sale" form. However, any other expenses will need to be tracked separately.

You can either add expenses manually, by upload, or via bank/credit card integration.

• • • To manually add expenses, click the “Add Transaction” button on the left menu and fill out the form.
    • To upload expenses, click “Add Transaction” > “Bulk Upload”. Next, follow the prompts on the screen, upload your file, and map the columns using the dropdowns.
    • To connect your bank account/credit card, follow these instructions: How to connect your bank account/credit card to pull transactions into the expense detail. Once your account is connected, new expenses will come through automatically. A notification will prompt you to review the new transactions, add descriptions, and assign them to general ledger accounts. If you'd like to create a rule to assign a general ledger account and description for expenses with a given "Charge Description", click the checkbox on the far right of the "Categorize Expenses" screen. If a transaction is not an expense, MRG supports a full chart of accounts, so you can create and assign any general ledger account necessary.