Organizing Small Toy Inventory

[pixietrove]

Hello! I'm new here to the community, but have been selling for a while now. I hope I'm in the right place to ask this question. I'm just getting started selling small toys. So I've been shopping at Goodwill Outlet bins and purchasing all kinds of toys, some of them tiny individual pieces that come in no particular set.  

I'm not sure how to organize and track them. Please, somebody, anybody, share with me what you do after you get your tiny toys home from the bins.

Here's what I've been doing: Because I pay by weight, I determine how many items I have and divide that by the cost to get an idea of how much each item costs.  I then sort through, placing similar items in individual bags and labeling the bags by date and cost of each item (2025-7-5   12 cents ea). Then each bag goes to a labeled bin (animals, cars/trucks, etc.). This process alone takes quite a bit of time.  

What's the best way to track these items in a spreadsheet, or should I track each individual item? There are some items that will be sold individually, but many of them will be sold as lots. I will mix and match items from different bags and from different purchase dates, etc. I'm thinking once I lot items together, then list that lot in my spreadsheet instead of listing items individually. I just don't know. 

I want to be able to keep accurate bookkeeping records for tax time. But I don't know the best or most efficient way to track inventory, because I'm dealing with so many items. 

Can someone please provide tips on how you're doing it?

Thanks!

[redlinear]

12 gallon totes with a number on each tote.  (T-01) (T-02) (T-03) etc.   
When you list your toys, IN each item description enter a location.  "Batman (T-01)" 
Do so until (T-01) is full.
12 gallon totes are just right for fairly small items. Big enough to hold quite a few, Not so big that it takes forever to find the toy.
When you sell the toy, just open the listing, see where the toy is, go get it.

I don't track each item. I use eBay as my inventory.  I can sort through my sales (in my ebay) to get any sales info I need.  If I want to have a written record, I simply do that once a month.  Look up sales and write down totals.

I part out vehicles so single parts sales mean very little.  I do go through my sales (in my eBay) and write down sales off of each vehicle.  That way I "quickly" can look back and tell how much $$ each vehicle has generated.

[pls-consignments]

I try to avoid adding anything to my title other than relevant info for search. For me, I use the "Custom Label" field that is only visible to you, but will also appear with sold items in eBay Shipping. 

Regarding the pre-list handling process, I would try to eliminate any needless handling and time by comping your items first. This will undoubtedly thin things down to a manageable amount. Then you will also get a much more realistic view of your efforts.

[meme6253]

You have a Great system, Your doing everything the right way, I would agree with redlinear & use totes. 

[short_circuit.lineman61 · Accepted solution]

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@pixietrove wrote:

Hello! I'm new here to the community, but have been selling for a while now. I hope I'm in the right place to ask this question. I'm just getting started selling small toys. So I've been shopping at Goodwill Outlet bins and purchasing all kinds of toys, some of them tiny individual pieces that come in no particular set.  

I'm not sure how to organize and track them. Please, somebody, anybody, share with me what you do after you get your tiny toys home from the bins.

Here's what I've been doing: Because I pay by weight, I determine how many items I have and divide that by the cost to get an idea of how much each item costs.  I then sort through, placing similar items in individual bags and labeling the bags by date and cost of each item (2025-7-5   12 cents ea). Then each bag goes to a labeled bin (animals, cars/trucks, etc.). This process alone takes quite a bit of time.  

What's the best way to track these items in a spreadsheet, or should I track each individual item? There are some items that will be sold individually, but many of them will be sold as lots. I will mix and match items from different bags and from different purchase dates, etc. I'm thinking once I lot items together, then list that lot in my spreadsheet instead of listing items individually. I just don't know. 

I want to be able to keep accurate bookkeeping records for tax time. But I don't know the best or most efficient way to track inventory, because I'm dealing with so many items. 

Can someone please provide tips on how you're doing it?

Thanks!

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 I am not a tax professional but my opinion is that tracking every single item is a complete waste of time, totally unnecessary and your time would be much better spent listing than entering details in a spreadsheet.

Just deduct what you gave for the stuff from what you got for the stuff in total for the year.  

No inventory left after 12/31. Repeat the next year. I have been told by a tax professional that as long as you sold more $ than you bought and you initials are not DJT you will be fine.

You think a IRS agent is going to come and inventory your death pile?

Where it pays to be super meticulous is after the item is listed, bag it, tag it with the ebay #, title and where it will be stored, like tote 7, then record that in the custom label. Put the storage location on the item so that  when someone asks a question about it and you get it out you know where to put it back.

[flp]

Yes, this is what I do also. When I first started selling, I would list each item on a spreadsheet with what I paid for it and it became really really burdensome. When I asked my tax person if there was an easier way, he pointed me to what I do now which is what you do. He said it's all legal but I was a little annoyed with him that he didn't tell me sooner 😄

[adamcartwright]

@pixietrove 

I don't think you should keep track of the cost of every little toy. That's going to drive you insane and detract from time you could spend sourcing and listing.

Others here have stated why it's not necessary to keep track of the cost of every sale, but if you want to do so for your own knowledge  (like to bragging to family members that you paid $x and sold it for $XXX),  then just weigh each sale before packing it up.  You know what you pay per pound, so that's the easiest way.

As for organization, maybe consider grouping items by brand also, like Fisher-Price Little People, etc. If people need replacement people or animals for one of those sets, it would be easy to have them all together.

Stay safe out there.

[pixietrove]

Ha Ha, that's funny!

Sounds simple enough. Thank you so much, because I was getting so tired of counting hundreds of tiny things, sorting and labeling all those bags. I've been buying lots of little items, and it's taking so long to organize. And that doesn't include taking photos, creating listings, etc. Whew!! I like the  system you described. This was very helpful. Really appreciate it!!

[pixietrove]

Glad to hear it's all legal. I'm definitely going to start doing it this way myself. Thanks!

[pixietrove]

Thanks! I'm feeling relieved right now, because I've been thinking that if I'm having to spend this much time just keeping track of every tiny toy, then maybe it's not worth dealing with toys. Thanks!

[pixietrove]

Agree. Thanks!

[pixietrove]

Thank you so much. Now I know that I don't need to track every little item, I'm so thrilled! I wasn't quite sure what size totes are best to use, so I'll try the 12 gallon. I currently only have just a few totes and so, so many toys to sort through. I was going to label each tote with the type of toys (animals, vehicles, dolls, etc.), but I like the 1-2-3 method you mentioned better, just to keep it simple. 

I think I've just been over thinking a bit too much. Thanks a bunch!