In this article:

What is Cost of Goods?
Editing Cost of Goods for products or variants
Applying your changes in product costs to all orders in the past
Other features to help you manage COGS easier

What is Cost of Goods?

Cost of Goods Sold (COGS) or Product Cost is basically the total amount of money you spend acquiring the products you sell online. It's like your "wholesale" price, not including things like marketing, overhead, or shipping.

For example, if you sell a t-shirt for $20 and it cost you $8 to buy from a supplier, your COGS for that t-shirt is $8.

Tracking COGS accurately helps you calculate your profit margin: Remember, your profit is the difference between your selling price and your COGS. Understanding your COGS helps you set competitive prices and ensure you're actually making money on each sale.

See How TrueProfit import your COGS upon installing.

Setup tutorial video:

Editing Cost of Goods for a product or variant

To update a fixed COGS value, you can edit directly on the table for each product/variant. When done, remember to save your change and recalculate your past orders to apply the new cost.



To see how to set up quantity-break for COGS, please read this article
To learn how to add historical COGS for your products, please read this article

Applying your changes in product costs to all orders in the past

All the edits you made to a product/variant will be saved and applied to future orders only. If you want to apply new costs to orders in the past as well, you will have to recalculate all past orders in TrueProfit.

Recalculate past orders means applying new changes in the Cost of Goods setting to our past orders. You can review the updated costs in the Orders Report page.

How to recalculate past orders for all products in your store

To apply your changes in COGS to all orders in the past, you will need to select all products in your store. Here's how:

Step 1: Select the products or variants that you want to recalculate using the checkboxes at the left of the table
Step 2: When a product or variant is selected, you can see the Re-calculate product past orders button shows up at the top of the table
Step 3: Click Re-calculate product past orders to start applying and recalculate COGS for all orders in the past of the selected products/variants

Other features to help you manage COGS easier

1. COGS Zones

COGS zones let you create different zones to manage your COGS based on the delivery destinations for specific product. Each zone will apply the COGS you set to the selected products only To see how to create a zone and manage your product's COGS by locations, follow this tutorial.

2. Export/Import buttons

The Export/Import buttons are helpful when you need to update your product's COGS or Handling Fees in bulk. This comes in handy when you have hundreds of product and need a way to copy/paste product costs quickly.
For a step-by-step guide on how to Export and Import COGS values for your product, follow this tutorial.

3. Filters for products and COGS values

In the Cost of Good settings, TrueProfit offers a search box and a few filters to help you view and manage just the products you want.
Search box: Search for products by its name. Any product name that match all or a part of your search term will be filtered out.
Product status: This filter includes the product's statuses from Shopify: Active, Draft, and Archived.
COGS source: Filter out COGS values that were edited Manually or synced from your Shopify admin. See how to manage COGS sources in this article.
Product COGS: Filter to display all products in your store or product with COGS value equals 0 only.

Updated on: 25/12/2024