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Full-featured Profit and Cost of Goods Tracking for your WooCommerce Store
WooCommerce gives you access to great reports on revenue and top-sellers or earners. Now we’ve added Profit Reporting to make these reports even more valuable for your store! You can evaluate not only revenue, but costs and profit all from within your WooCommerce store. Quickly and easily get the information you need to make marketing and sales decisions to optimize your store’s revenue.
Easily track total profit and cost of goods by adding a “Cost of Good” field to simple and variable products. Costs are automatically calculated on checkout so that you can see your profit in addition to simple sales information, and the in-depth reports provide exactly the details you need to improve your bottom line.
How “Cost of Goods” Improves Your Reporting
Gives you vital information about your business – adds information about store profit and most profitable products so you know about more than just revenue
Add a Cost of Good to each Product (including variations!) to always know total costs of products sold in each order
Add a default cost to all variations for a product, which can be overridden for any single variation if needed
Apply costs to previous orders (placed before installation) when you set product cost
Gain insight into your most profitable sellers so you know where to focus your marketing
See Profit & Cost Reports by day, month, or product
See a total inventory valuation based on retail prices or cost of goods.
Quickly view costs next to prices in your product manager table display
Add Costs to Products
Quickly add a Cost of Good to each product, including product variations, which are then used to calculate your total order costs so that you can always know what you really earned on every order – not just how much you sold. Total costs for each order line item are saved at checkout, so even if your costs increase in the future, your total costs are always historically accurate.
Adding costs to variable products is easy as well. You can add a default cost for all variations or set costs for a variation manually:
Focus Your Marketing on Top Products
The Cost of Goods extension allows you to determine your true top products by viewing which products are most profitable for your store, not just those that generate the most revenue. Maybe you track pay-per-click or print advertising with the WooCommerce URL Coupons extension? Now you know which products to create these coupons for since you know which will earn the most for your store. Cost of Goods allows you to focus your marketing efforts on high-margin goods.
Tracking your cost of goods is pointless without in-depth reporting to give you actionable information to improve your profitability. Reports include:
Overview – See your total sales, cost of goods, profit, and average profit per order for all-time, along with a helpful graph for the current month.
Profit by Day – See your total sales, cost of goods, profit, and average profit per order by day for a given date range.
Profit by Month – See your total sales, cost of goods, profit, and average profit per order by month for a given year.
Product Profit – See the total sales, cost of goods, and profit for selected products over the past year, grouped by month.
Most/Least Profitable Sellers – See the top 25 most or least profitable products for a given date range.
Inventory Valuation – See the total value of your entire inventory, calculated using the retail price or the cost of good.
Now you can apply costs to previous orders with the updated Cost of Goods Extension. Simply add costs for your products, and any orders placed before using this extension can be updated from Settings > Products > Inventory to immediately get insight into most and least profitable sellers without waiting for new sales to roll in.
Don’t want to include shipping or taxes in your profit reporting (you’re probably already passing these to the customer anyway)? No problem, just go into the settings page and exclude them from profit calculations.