Part 12: Accounting – auditing you!
A great business needs to have a proper system for auditing. It needs an accountant. TSM Accounting is exactly what it sounds like; it records all your transactions, whether it be purchaes, sales, repairs, vendor trashing. If it involves gold, Accounting knows about it. It looks like this:
The first tab ‘Revenue‘ displays long running tables of all your income. These can be filtered by character, quality, time, group, type, or be straight down searched through.
The sub-tab ‘Other Income‘ will mostly display money transfers between chars, which I find incredibly annoying – so I have turned it off in options. I recommend doing the same, unless you have a good reason not to.
Sub-tab ‘Resale‘ will list all items you have both bought AND sold on auction house, regardless of purpose. You can compare buying with selling prices. Good for auditing flipping activities.
The tab ‘Expenses‘ will show you the same setup, only for your outgoing expenses. Stuff you buy. Under ‘Other Expenses‘ you will find mail and repairs.
‘Failed Auctions‘ is just a list over stuff that didn’t sell. Like you need to see it twice after all that mailboxing. Noone said accounting was fun.
The next tab, ‘Items‘ is one of my favorites. What Vermillion Onyx cuts sells best?
I just locate the group that has all my Vermillion Onyx cuts in them, and now I can see in detail how they have been performing. This is the tool I use to split groups into high and low sellers. This table can also be filtered by time, to show i.e. the sales of the same cuts during the last 7 days. That can be convenient if you were starved for raw mats 14 days ago, which will have skewed the sales.
Next up is the ‘Summary‘-tab. This is genious in so many ways. Let’s take a look.
The first window that greets us is the total summary of everything and everyone. This represents my account as a whole, and as you can see – I’ve been spending some money lately, mostly on battle pets and rigging new banks and alts with expensive bags etc. You can see I have spent almost 900k the last 30 days. On average I’ve been spending 56.000g every day the last week, but only making sales for 44500g. Warren Buffet would not approve of this audit.
This is all well and good and emotional and stuff, but not really of any practical use. This is where your group structure comes into play.
If you have Leatherworking mats and crafts as two sub-groups of the same Leatherworking-parent, you can audit Leatherworking as a whole by choosing the parent group. If that confused you, just look at the picture.
Now THIS tells me something interesting. This image is completely unaffected by me going all Paris Hilton and buying battle pets for half a million. This image only tells me if i’m turning a profit on my leatherworking-side of my business. Last week it has made 3k profit/day.
This can get complicated if you are a heavy shuffler, seeing as ghost iron ore will be a major expense – and it has to be booked somewhere. A workaround on this is placing JC, BS, and Enchanting in the same parent group called ‘Shuffle‘. This way the whole shuffle can be audited as a whole. I have not done this myself, so I can’t show a picture of it – but I have contemplated the idea.
Now this is the audit of the most brain-dead goldmaking scheme I got. It deserves its own post, but I can sum it up shortly. If I got spare time, i.e. waiting for a raid – I do a disenchant search on AH using Avg Sell Price (mostly dump-prices from my janitor) for the enchanting mats. My server is pretty huge, so I get probably 300 hits/day. For one week I have just uncritically bought everything up to 90% of DE value, DEd, and dumped to the janitor for dump-sale.
I am surprised to see these kinds of profits. This is definately something I would be doing as a lone enchanter with only small capital (50k+). I don’t seem to have more than like 5-10.000g bound up in this liquid market at a time, turning almost 100% profit. This scheme gets further boosted by being in a guild with the bountiful bags guild perk.
2300g/day pure profit without any afterthought whatsoever, and this number is steady rising every day, this was my beta week. Perhaps this strategy could be refined further. Will revisit later.
Lastly, a nice little touch. A gold graph of one or all of your characters. Guild bank gold is not counted. The large influx of 1 million gold close to todays date was just me emptying out the million from the gbank.
The last tab holds the options:
I highly recommend removing the check for ‘Display Money Transfers in Income/Expense/Summary’. All it does is create unnescessary clutter. You also got the option to clear out old data, which is a good idea. No reason to drag corpses of data along. 30 days is more than enough.