How do I make sure my cost of goods sold ("COGS") are accurately calculated in Vend:
Ordering units through the Stock Order page is the best way of ensuring that the correct COGS is reported.
If you have any products that were created without a supply price, they will show as $0 for COGS. To remedy this, you will need to order units in a stock order with a supply price going forward. If you add these units via CSV or the edit product page they won't generate a COGS even if the supply price is changed.
Additionally, changing the supply price on the edit product page won't change the supply price for units already in stock for that product or units you add to that product via CSV or the edit product page.
COGS may also differ from the current supply price of a product. This is because the recorded cost can be different.
When inventory is received, it either uses the supply price of the product or the cost that is used in the stock order. However, no changes are made to the cost associated with the units that you previously received into stock for that product. This means that if you have any existing stock with a different or incorrect supply price, your COGS will calculate incorrectly.
How to fix incorrect COGS using a stock order:
1. Navigate to Catalog -> Products. Use the filters to locate the product(s) you wish to fix the COGS for and click Export List... then select CSV format.
2. Next, navigate to Inventory-> Inventory Count and click Add Inventory Count. Name the inventory count as "COGS correction" and select an outlet, then click Partial Count.
3. Scroll down to Filter Products, add the products you need to fix the COGS for and click Start Count.
4. Do not count any products, click Review then click Complete. This will revert your inventory to 0 for the selected products. Click Submit.
5. Now, navigate to Inventory -> Stock Control -> Order Stock and create a stock order for all the products that you need to fix the COGS for at the correct inventory levels and supply price.
6. Receive the stock order and the inventory for your products will be added. The COGS will be reset to match the supply price of the product.