Need Advice About Record-Keeping for a New Drop Shipping Business

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New Member
3 0 0

Hi.

I am new to drop shipping and am going through the long process of educating myself about how to set up and run my own website. Two things I can see as being potentially time-consuming jobs are those of keeping a record of the items to be listed on my website, and keeping a record of my sales, expenses, profits, etc. For the latter chore (sales, expenses, and profits), it is pretty obvious that a spreadsheet would be the best way to proceed; however, with the first chore (keeping track of items listed on my website), I am in question as to what the most efficient (least time-consuming and effort-intensive) method would be—a spreadsheet or a database? Thus, I have 6 questions:

  1. What items should I include on the spreadsheet for keeping track of expenses, sales, and profits? (I don't want to miss anything that I might, later, discover should have been included, after spending hours setting up an Excel spreadsheet).

  2. Is there a good spreadsheet that is ready-to-go which I might already use, thus saving me the afore-mentioned hours of time an effort? If so, I would appreciate being sent a link to it.

  3. In your experience, which would be better for keeping track of the products to be listed on my website—a spreadsheet or a database.

  4. In either case (spreadsheet or database), what items/fields should I include? One YouTube video I watched advocated making a spreadsheet which contained a separate sheet for each supplier.

  5. As with question #2, if there is a good, ready-to-go database which I might use, thus saving me hours of set-up time, I would greatly appreciate being sent a link to it.

  6. Finally, if there is a recommenation as to a good book, article, YouTube video, whatever that deals with the record-keeping business of running a drop shipping business, I would appreciate knowing about it, as well.

Thank you for your time and trouble in reading this and any help you might offer.

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Shopify Partner
660 0 121

Typically you would use an accounting software such as Xero or Quickbooks to record your expenses and revenue.

Many store owners also use our app Better Reports to track revenue and segment sales based on time, products, vendors, channels, etc...

There are also several apps to automatically sync your Shopify sales directly into Quickbooks or Xero.

See more here: https://apps.shopify.com/categories/accounting

I hope this helps.

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Shopify Partner
146 0 7

Hi,

As you are in dropshipping Business, give a try to our new dropshipping app dsmatepro which dropships from several websites including chinese supplier sites. You can place unlimited orders and import products easily. Get the app link here https://apps.shopify.com/dsmatepro

Hepe that helps,
dsmatepro

https://apps.shopify.com/dsmatepro
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When you are doing this kind of business, please pay most attention on the delivery service and find the most reliable supplier from. 

(1) You need to find a right supplier.

You can start your search for the right partner on:

Aliexpress, Alibaba, 1688, Walmart, Amazon, eBay,Banggood,Etsy and so on.

(2) List the products on your online store.

 ShopMaster(shopmaster.com) can help you import products from Aliexpress, eBay, Amazon, Walmart, and 17 more sites to your Shopify store in one-click. Now you can get started with Free Statrter Plan. There is no time limit.

(3) Once order received, you need to forward the details to the supplier.

(4) Supplier ships the order directly to the buyer.

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