It's not worth my time and effort to track this, but I do have a couple of rules about it.
The main one is that no money or item the party gets is allowed to be written down in two places. This means that I absolutely prohibit each pc tracking all the loot individually- either one person writes it all down, each haul is noted by a different pc or (the preferred solution) the group keeps a separate sheet for party treasure that they can pass around, but that isn't on a specific character's character sheet. When they split the loot, each pc writes down what he or she has, and it gets marked off the party list.
A corollary to this is that if it's not written down, it's gone. I've seen pcs lose major magic items this way, though not in quite a while.
The other rule is that if you are getting sloppy with tracking your stuff, it's all gone. You're not marking off the money you spend when you spend it? A gentle reminder, followed by a warning, followed by "You're broke" or "You're out of arrows". I am mean and ruthless about this. If a player wants to put the onus on me to keep track of their money and arrows, they absolutely will regret it. If a player is unwilling to track their expendable resources, then they're basically making my job as DM too much work. I don't need that at my table, and haven't had to take the firm, mean, "Nope, you're out" step in a long, long time- partially because my group believes that I'm willing to do it if I feel it's warranted.
I absolutely recognize that this makes me sound like a tyrant, and I'm fine with this. My players must find my DMing to be good enough to put up with a little tyranny, since I haven't had a player walk (with the exception of two guys who hated 4e) since the earliest release days of 3.5, and that was because he was having a lot of personality issues with everyone else in the group anyhow.
