How to Track Gift Card Resale

[dpk4588]

I've recently gotten into the gift card resale game and I'm trying to figure out how to best track it.

It gets a little tricky because I sometimes buy these gift cards with eBay gift cards that I've purchased at a discount. While I would generally treat them as cash, technically they are inventory so I don't think I can use a program like Quickbooks because I don't think you can purchase inventory with other inventory.

I want to track my cost, rebates (be they Amex offers, cash back, & or eBay Bucks), sales price, buyer, and total profit (preferably by item).

Any ideas on the best way to do it would be greatly appreciated.

TIA.

[lubaby]

Are you tracking each gift card on a 1 by 1 basis?

Anyways, use Excel. It can be custom designed to calculate anything for you. It's only limitations are your mind (or Google searching prowess).

[dpk4588]

Are you tracking each gift card on a 1 by 1 basis?

Anyways, use Excel. It can be custom designed to calculate anything for you. It's only limitations are your mind (or Google searching prowess).

I track it by order so if I order 5 Staples GCs I'd have one order and a quantity of 5 in the order.

I figured excel would be best, but I'm just not sure of the logistics of how exactly I should set it up.

[lubaby]

I track it by order so if I order 5 Staples GCs I'd have one order and a quantity of 5 in the order.

I figured excel would be best, but I'm just not sure of the logistics of how exactly I should set it up.

That's for buying.

Selling would still need to be on a 1 by 1, no?. Either way, it makes no difference. It's Excel.

It'll just have to be set up differently (and more complex).

[dpk4588]

That's for buying.

Selling would still need to be on a 1 by 1, no?. Either way, it makes no difference. It's Excel.

It'll just have to be set up differently (and more complex).

It would go for sales too. If I buy 5 at once I'm selling 5 at once.

[dpk4588]

I guess what I'm most unclear on is what cost to pick up on inventory that I bought with discounted eBay GCs.

Example:
I bought an $100 eBay GC from Staples and got back $25 from the Amex offer, so my eBay GC has a cost of $75. I then buy a $50 Cabela's GC for $40 (in eBay GCs).

At first glance it would seem that you take 75% of the $40 since thats the discount I got the eBay GC at. But I don't get all my eBay GCs at the same discount. Sometimes I save 25% sometimes I only save 5%.

So how do I determine my cost if the discount at which I get the eBay GCs varies? Do I take my total cost of all my eBay GCs versus the total value? If so that means that the cost will change for items I've already sold as time goes on and I buy more eBay GCs at different discounts. Is that the best way to do it or is there another way that I'm missing?