Resale records for tax season: what to keep
Resellers usually need a clear record of what they bought, what they sold, and what each step cost. FlipKeep helps you keep those records and export them. It is general information, not tax advice. Tax rules depend on where you live and how you sell, so confirm the details with a qualified accountant or tax professional.
Why platform totals are not enough
Marketplaces and payment platforms often send sales summaries, and some send tax forms. Those totals usually show gross sales. They do not subtract what you paid for items, the fees you paid yourself, shipping and packaging, or refunds and returns. Your own records show the profit behind those totals.
Records that are usually useful
For each purchase, keep:
- the date and source of the purchase
- the items and their quantities
- the amount paid, the currency, and any exchange rate you used
- shipping, customs, and other purchase costs
- discounts, and refunds with the date you received them
- receipts or invoices
For each sale, keep:
- the date, the marketplace, and the price
- any shipping the buyer paid
- marketplace fees, payment fees, and other costs
- seller shipping, packaging, and any seller taxes you paid
- refunds and returns, with their dates
For rewards and credits, keep the amount you expected, the amount you received, and when it arrived. For stock, keep a list of the items you still hold and the date you acquired each one.
What FlipKeep keeps
FlipKeep links purchases (Deals), items, sales, refunds and returns, rewards and credits, and the exchange rates you used, so each figure can be traced back to its source. Linked financial history is corrected or reversed rather than silently deleted.
Export what you need
FlipKeep exports records in several formats:
- Summary, Sales, Inventory, and Credit CSV files for working in spreadsheets. Monetary columns stay numeric, so spreadsheet totals work.
- A Report PDF for printing or sharing a readable summary.
- An encrypted backup for keeping a protected copy of your records.
Exports are created on your device. The destination you send them to controls what happens next.
Keep records current
Records are easiest to use when they are updated as things happen:
- Record each purchase when you make it, with its cost and currency.
- Record each sale when it completes, using the money you received or each cost.
- Record refunds and returns when the money moves or the item comes back.
- Add rewards and credits when they arrive.
- Export a backup and a summary at regular intervals.
Review by period
Overview lets you choose a period: This Week, This Month, This Year, or All Time. Reviewing each month as it closes means mistakes surface while the purchase and sale details are still easy to check. At the end of the year, compare the This Year figures with the records you exported, so the summary and the detail agree before you share anything.
Common questions
Does FlipKeep calculate taxes or prepare tax returns?
No. FlipKeep records purchases, sales, costs, refunds, and returns, and it exports them. It does not calculate tax or prepare tax returns.
How long should I keep resale records?
That depends on your local rules. Tax authorities set their own retention periods, and they can differ by country and by record type. A qualified accountant or tax professional can confirm what applies to you.
Can I share my records with an accountant?
Yes. Ask your accountant which format they prefer before you export, because spreadsheets and PDFs serve different needs.
Does FlipKeep connect to my marketplace accounts?
No. You enter purchases and sales yourself, and your records stay on your devices by default.
Track your next flip in FlipKeep
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