How does Shopify calculate the cost of goods sold?
Asked 3 years ago
Does Shopify automatically calculate the COGS for you, or do you have to input the numbers manually for it to do the calculation?
Marty Wagner
Sunday, December 12, 2021
The COGS metric is visible on the Gross margin box. You can also monitor your COGS annually by going to the 'Finance summary report.' Choose a date range, and you are good to go!
For Shopify to calculate your COGS accurately, you only need to add the per price of your goods manually by following these steps:
- Select 'Products' on Shopify admin.
- Choose the product you want to edit.
- Add the 'Cost per Item' in dollars to the 'Pricing section.'
- Save these changes.
Jax Pearson
Sunday, March 27, 2022
You can find the Shopify cost f goods sold report for your products automatically on Shopify without calculating manually using the Shopify fees calculator for the cost of goods sold.
Go to the Shopify Admin click Analytics and choose finances on the reports page. Choose a time period to get the COGS.
Scottie Gordon
Sunday, May 29, 2022
You can see your COGS figure on Shopify only if you are on a Shopify plan. You don't need to calculate your COGS manually; Shopify automatically does all your calculation at the end of the year.
Follow these simple steps to visualize your Shopify COGS:
- Log in to your Shopify plan or higher.
- Go to your Admin > Analytics > Reports.
- Go to the finances section and click the summary report.
- The gross profit channel shows your data for COGS, other net sales, and profit.
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