I agree that record keeping can be a pain.
The books also leave out a few little things, like you're given an Appraise skill and mechanics for guessing a worth of an item, but there's no rule or mechanic for then trying to sell the item.
Also, the appraise rules as written apply to guessing anythings worth, including standard, mundane equipment. Heck, you could mis-appraise the value of a gold peice if you rolled poorly.
To cut down on paperwork and bookkeeping, I would almost prefer the appraise skill to have only success or failure. You either know how much something is worth or you don't. If you want to purchase an appraisal from a local expert, it costs 10% of the item you are appraising. Everything is sold for 1/2 it's true worth.
Another thing that bugs me is keeping track of the abilities of magic items (especially weapons and armor) that characters are using but haven't identified. Talk about bookkeeping!