Cost of Goods for WooCommerce
WooCommerce Cost of Goods by WooThemes
Profit and Cost of Goods Tracking for your WooCommerce Store
With the help of WooCommerce Cost of Goods plugin you can get access to great reports on revenue and about top-sellers or earners. Profit reporting has been added to make these reports even more valuable for your WooCommerce store! You can also evaluate costs and profit all from within your WooCommerce store. You will get the information quickly and easily so that you can make marketing and sales decisions to optimize your store’s revenue.
Also now you can easily track your total profit and cost of goods by adding a “Cost of Good” field to simple and variable products. The costs will be automatically calculated on checkout so that you can see your profit with simple sales information, and the in-depth reports will provide exactly the details which you will need to improve your bottom line.
How WooCommerce Cost of Goods Improves Your Reporting
- It Gives you vital information about your business – It will add information about store profit and most profitable products so that you know about more then just revenue.
- Add a Cost of Good to each Product to always know total costs of products sold in each order.
- Add a default cost to all categories of the products, if any single variation is needed it can be overridden easily.
- Apply costs to previous orders (placed before installation) when you set product cost.
- It also includes the costs in orders which are exported with Order/Customer CSV Export Suite.
- It is easily compatible with Product CSV Import Suite.
- It can gain insight into your most profitable sellers so that you come to know where to focus your marketing.
- You can see Profit & Cost Reports.
- You can also see a total inventory valuation which is based on retail prices or cost of goods.
- You can quickly view costs which is next to prices in your product manager table display
Add Costs to Products
Now you can quickly add a Cost of Good to each product, which includes the variations in product, which are used to calculate your total order costs so that you can always know what you have really earned on every order and not only how much of your products you have sold. The total costs for each order line item are saved at checkout, so even if your costs increase in the future, your total costs will be always historically accurate.
Adding costs to variable products is also easy as well. You can add a default cost for all categories or manually set the costs for a category.
Focus Your Marketing on Top Products
The Cost of Goods extension will allow you to determine your true top products that which products are most profitable for your WooCommerce store, not only those products that generate the most revenue. You may track pay-per-click or print advertising with the WooCommerce URL Coupons extension. Now you will know which products these coupons should be created as you know which will product will earn the most for your WooCommerce store. With the help of Cost of Goods you will be able to focus your marketing efforts on high-margin goods.
Track your cost of goods with in-depth reporting to give you information you can act on to improve your profits.
The reports include:
- Overview – You can see your total sales, the cost of goods, profit, and average profit per order for all-time, along with a helpful graph for the current month.
- Profit by Day – You can see your total sales, cost of goods, profit, and average profit per order by day for a given date range.
- Profit by Month – You can see your total sales, cost of goods, profit, and average profit per order by month for a given year.
- Product Profit – You can see the total sales, cost of goods, and profit for selected products over the past year, grouped by month.
- Most/Least Profitable Sellers – You can see the top 25 most or least profitable products for a given date range.
- Inventory Valuation – you can see the total value of your entire inventory, calculated using the retail price or the cost of good.
Now you can apply costs to previous orders with the updated Cost of Goods Extension. You can simply add costs for your products, and if any orders are placed before using this extension it can be updated from Settings > Products > Inventory to immediately get insight into most and least profitable sellers without waiting for new sales to roll in.
If you don’t want to include shipping or taxes in your profit reporting, then all you need to do is go into the settings page and exclude them from profit calculations.
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