I'm pleased to introduce a great new option for managing Cost of Goods Sold.
ProfitWise offers some great features, including:
We offer a 14-day free trial, so please check it out.
@jacob n master, I've only just seen your response (been busy!). All the best with whichever solution you go for.
@loranshop, looking forward to sharing with you what we've got. As well as COGS, we offer multi-locaction inventory too. We get that many of you don't want to pay extra for these functions...I'm thinking long and hard about pricing...interested in peoples comments.
I'm excited to announce a new option for merchants looking to analyze their cost and profit.
We have recently released a major update to our app Better Reports that makes it possible to create all sort of interesting reports.
-Monthly cost/revenue/profit per product, with subtotal per vendor
-Total Weekly cost/revenue/profit, with monthly subtotal
-Daily cost/revenue/profit per product type
-Average profit per order, broken down by country
-Total inventory cost
These are just examples. I can't emphasize enough the flexibility of the reporting engine. It is possible to segment and filter by any field (vendor, product type, tags, etc...), in pretty much anyway you can think of!
You can also define your own definition of profit (e.g. whether it should include the shipping cost) and cost (e.g. whether it should be static or be a percentage of the product price).
The only required step is that the cost of each product is entered somewhere. You could enter your costs at the product level or variant level (or both), depending on what makes the most sense for your products.
There are a few different ways to enter the cost.
1) Enter the cost in a metafield, with the help of a metafield app (e.g. Custom Fields) or with the powerful free tool Shopify FD (for the more tech savy). This is a clean solution and it is possible to bulk upload your costs from an excel file.
2) Enter the cost in an existing field that you don't use already (e.g. SKU or barcode). This makes it quite seamless, but you need to be cautious of unintended consequences, for example if this field is displayed somewhere on your storefront.
3) Enter the cost with a tag. For example the tag could be cost: 39.23. This can work well only if you don't have a lot of products
Of course the reports are dynamic and will update as soon as you update the cost.
Also, all reports can also be exported to CSV file or Google Drive.
If you're interested, please contact me at firstname.lastname@example.org so that we can get you set up and discuss any custom reports you may need.
I thought I'd upate you that we are about to launch our free beta app that allows you to;
We are launching around end October and are preparing our beta group as we speak.
It's not too late to join our free beta.
We plan to charge just $55pcm after a 30 day free trial, once we're out of beta, so there's plenty of time to use our app for free until then.
You can join our beta by clicking our logo above or email me at email@example.com and I'll add you to our beta group.
Post-black Friday surprise for merchants! Free COGS + Profit tracking - https://apps.shopify.com/order-metrics-profit-analytics
This is a real app with real users :)
I'm happy to confirm that our app is finally live and in the app store under the inventory category.
We offer cost price upload in bulk or via our super helpful RAPID method, profit reporting through our easy to use, yet powerful dashboard, inventory visability across locations, purchase orders, price markdowns.
Feel free to take us for a test drive - we offer a 14 day free trial
Karen and the team
The Prosperous Shop