How can I adjust the cost of an item after it's been posted?

sportboatshirts
New Member
5 0 0

I have entered the price of the majority of my items after the product had already been posted and sold.
However, once those initial orders have been fulfilled and the cost established for the new orders, it does not seem to correct itself.

I have tried duplicating the product, and activated to product with the established cost and did a test purchase.
Still the cost of the item does not subtract from the gross. 
What is the solution?

Replies 3 (3)

sportboatshirts
New Member
5 0 0

I have entered the cost* is suppose to replace the first part of the intro.

Shay
Shopify Staff
2928 455 602

Hey there @sportboatshirts 

 

To clarify, you are wanting to have your cost of products report to update and include orders already completed based on the new product cost data you have entered. 

 

This will affect all future orders, but will not be tracked retroactively. Product costs can change, so you need to be able to adjust those numbers as needed and know your past orders are tracked using the data that was connected to them when they were processed. I recommend making a note on those orders to ensure you are adding those product costs to your totals. You can also create a draft order using the same products and zero out the cost and inventory in the order to have it reported in your analytics still. 

 

I always recommend leaving detailed notes in your orders and draft orders if taking those kind of actions. 

Shay | Social Care @ Shopify 
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BetterReports-K
Shopify Partner
176 6 16

Hi @sportboatshirts,

 

Keanna here from the Better Reports support team. I would recommend exploring our app Better Reports for this!

 

In Shopify, sales reports always use the historical cost to determine cost of goods sold. In Better Reports, we use the current cost to calculate cost of goods sold. This means that your historical sales will update to calculate cost using the new cost that you've entered. We have several built-in reports which show sales and gross margins at various levels (by vendor, product, product type, SKU etc).

 

Better Reports offers more than 80 built-in reports that cover your most common reporting needs including sales, current inventory, refunds, payouts, and more. We can also help create custom reports to automate much of your daily workflows. We'll work with you to create the exact reports that you need. All reports can be scheduled at a set cadence to email or Google Sheets or exported to Google Sheets, HTML, PDF, Excel or CSV.

 

I encourage you to install Better Reports and start your free 14-day trial and I'll be happy to set up any reports that you need.