How to record expenses and COGS on a POS system?

Shopify Discussion
1

Hello All,

I am sure this is very common question but looking for positive update. Shopify is great POS but it does not record expenses such as utilities, labor cost, Cost of Goods Sold, etc.

I knew linking to external accounting systems is an option but why Shopify do not create simple fields to record the expenses in order to generate the profit/loss position.

Any one has a solution or tries something work?

2

Hey, Haitham!

I’m Alex, with the Shopify team!

Thanks for reaching out today, appreciate that! Completely understand your frustration. As you’d mentioned, there isn’t currently the option to record this info in Shopify; some merchants have successfully used the compare-at price on their products to record the cost of their goods, though this would require disabling those prices appearing in your theme and would prevent using those prices to display actual sales you might be running.

Currently, your best option is use of an app - here’s a couple that I’d suggest looking into:

These are third-party, paid apps - though each does offer a free trial period to let you check them out and see if they’ll work for your needs!

Having said all this, I totally understand that you’d like to see this as part of Shopify’s core function rather than as an add-on app. I’d be happy to pass this on to our developers as a feature request for you. If you’d like me to reach out on your behalf, just let me know here and I’ll send it up straight away!

Do let me know if there’s anything else that I can help with, and you can always give us a call or start a live chat at any time. We’re open 24/7 for your convenience and always happy to assist!

Cheers,

Alex | Shopify

3

Hi! If you are a seller of handmade goods then Craftybase may be your answer here. We are a bookkeeping and inventory package that calculates your COGS and stock for you automatically. We also integrate with Shopify to bring in your orders on a daily basis and have expense tracking available. If you have any questions for us please feel free to get in touch!

Nicole @ Craftybase
https://craftybase.com/

4

Hi Haitham,

The BeProfit - Profit Tracker app is exactly what you’re looking for.

“Shopify is great POS but it does not record expenses such as utilities, labor cost, Cost of Goods Sold, etc.”

BeProfit does! It gives you a dashboard to track and analyze your store’s profits and expenses including production, shipping, marketing costs, and much more.

“…why Shopify do not create simple fields to record the expenses in order to generate the profit/loss position.”

BeProfit does this for you automatically. Use it to understand your data at a glance and discover what areas need optimizing to maximize your profit.

5

Hello @Haitham_Khaiyat ,

We are OneCommerce - an eCommerce Solution Platform.

Shopify is primarily an eCommerce platform, and while it does provide basic financial reporting features, it is not intended to be a full-fledged accounting system. Fortunately, our OneCommerce platform has TrueProfit in the house.

  1. TrueProfit contains all COGS, labor cost, shipping, etc. and you can manage all of them in one dashboard.
  2. You can add and edit any cost that you need in dashboard
  3. True Profit track you cost and profit in real-time, which mean you don’t have to wait for 3-5 days to calculate all your cost.

If you’re interest to find more about us, click HERE

Have a nice day.

OneCommerce team.