Hi!
I just had my first sale on shopify and when looking at my finances tab I noticed the gross profit was significantly inflated. It states that my Cost was only $13.49 when in reality it was $27.70. I was wondering if there was a way to correct this because of how way off it is!
Thanks!
Congratulations on your first sale on Shopify! It sounds like there might be an issue with how the cost of goods sold (COGS) is being recorded in your Shopify setup. This is somethings you should double check or need to updated:
Verify and correct the cost in the product settings.
Go to your Shopify admin dashboard.
Navigate to Products > All products.
Select the product in question.
Scroll down to the Pricing section and look for the Cost per item field. Make sure this reflects the correct cost of $27.70. If it doesn’t, update it.
Manually adjust financial records for the current discrepancy.
If the sale has already been recorded with the incorrect COGS, you might need to manually adjust this in your financial records.
Shopify doesn’t allow you to directly edit the financial data for past orders, but you can make a note of the discrepancy and adjust it in your accounting software or manual records.
Ensure future product costs are accurately recorded.
Ensure that all your products have the correct cost information to prevent future discrepancies.
Regularly review your finances tab to catch any inconsistencies early.
Contact to Shopify Support Team if needed
Hope my comment can help you!
