How to set cost of goods on the product

To set the cost of goods, you have many options. For simple products, you can set the cost easily on the Product Edit page below the price.

Cost of good in simple product
Cost of good in simple product

For variable products, you will be able to add the main cost to all variations or individually cost per each variation.

Cost of goods for variation

Besides the Reports (read more about them here), the cost of your products will be available in the Orders details, both for each single product and for the entire order, just below the Order totals.

Cost of Goods in the order totals

Report

There are two types of report: for sales and for stock.

Reports

The main report allows you manage your products giving you the option to have a clear scenario about how your sales are going and the benefit you are making thanks to your products.

In the Reports you will see the following columns:

  • Product
  • Quantity
  • Average Product Price
  • Revenue
  • Average Product Cost
  • Cost
  • Average Product Margin
  • Margin
  • Tags
  • Percent margin
  • Any custom fields you’ve added (Production year in the following screenshots).

Moreover, you’ll see a recap of the total costs and margin of profits of your shop.

Reports

This report is very flexible. You can filter sales by:

  • date
  • product
  • category

Reports filters

Stock Reports

The stock report fulfills the same function with an advantage, it allows you to have an estimate of the potential benefit of your stock.

Stock reports

Also these reports can be filtered by product or category.

Apply cost of good to previous orders

The first time you install the plugin, you have to set the cost of goods of the products. This lets you see the new sales in your shop, if you want to see the old ones, you have to set and apply the cost to products that don’t have it defined previously.

If you want to modify a previous product cost, you only have to set a new cost and apply the cost overriding. Remind this option overrides all the previous costs.

Apply costs to previuos orders

Add custom columns and tags to report

In the settings of the plugin, you have the option of add as many columns as you want using the custom fields. It takes the custom field value of each product in the reports.

You also have the option of adding a tag column for the product in the report. It allows you to filter the sales and the stock by this.

Add more columns to report
Add custom columns to report

 

Custom columns in report
Custom columns in report
Custom coluns in report
Custom coluns in report

 

Export to CSV

If you need to, you can export the data of your reports into a CSV file and process them in any other software.

Just click on the Export CSV button that you see on the top right of the Reports tab and the file will automatically be downloaded.

CSV Export

Review order status for the Reports

Another important feature of the plugin is the possibility to choose when products have to show up in the Reports of Cost of Goods. Sometimes on-hold orders can be cancelled and distort the profit expectations.

This plugin offers you the possibility to filter the orders. To do this, just go to YITH Plugins > Cost of Goods and scroll down up to Order Status Settings.

Order status

You can choose from the following three options:

  • Completed: select this if you want that only products of Completed orders appear in the Reports.
  • Processing: select this if you want that only products of Completed and Processing orders appear in the Reports.
  • On-hold: select this if you want that products of all orders of your shop appear in the Reports.

Import costs from WooCommerce Cost of Goods

If you are migrating from WooCommerce Cost of Goods, you will be able to import all the costs you’ve previously set up. This way, you don’t have to add the costs again on each of your products and the migration will be as easy as clicking on a button.

In fact, you just have to keep both plugins activated, go to YITH Plugins > Cost of Goods, and click on the button Import Costs.

Import from WooCommerce Cost of Goods