Expenses
Track your business expenses in one place. Nifty uses this data alongside your sales to generate Profit & Loss statements.
Where to find it
Go to Expenses (in Analytics).
Recording expenses
You can add expenses manually or import them from a spreadsheet.
Add — Click Add, then enter the date, description, category, and amount for a single expense.
Import — Click Import in the top-right to bring in multiple expenses via a spreadsheet. We'll give you a template that you can use.
We provide standard business categories plus specialized ones for resellers. When recording travel for sourcing (driving to the thrift store, rideshare to an estate sale), always use Sourcing Transportation — this helps us accurately calculate your total cost of goods.
Mileage tracking
For personal vehicles, you can track either:
Actual expenses — Gas, repairs, maintenance
Mileage — Distance traveled (we calculate the deduction using US or Canadian rates)
Once you choose actual expenses for a vehicle, you must use that method for the vehicle's lifetime.
For rental cars and rideshare, enter the actual expense amount.
Inventory costs
How you track inventory costs depends on your accounting method:
Accrual accounting
The cost is recorded when you sell the item.
Enter Cost of goods when creating listings, or after the sale
Your Profit & Loss statement will show a COGS (Orders) line item
Don't add Inventory Purchases as expenses — they'll be ignored
Cash accounting
The cost is recorded when you buy the item.
Add purchases under the Inventory Purchases category
Your Profit & Loss statement will show an Inventory Purchases (Expenses) line item
You can still add Cost of goods to track margins, but it won't affect financial calculations
Limitations
Recurring expenses
No option to set up automatic monthly entries
Credit card integration
Can't import expenses from bank or credit card accounts
Split transactions
Each expense is one category — split manually if needed
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