Cost of Goods for WooCommerce

 

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Settings

 

Looking to better understand your product costs and profitability within WooCommerce? The Cost of Goods for WooCommerce plugin is the ultimate solution for managing and analyzing your WooCommerce store’s cost of goods sold (COGS) data.

With this plugin, you’ll gain access to a powerful set of tools that allow you to track your expenses, factor-in shipping and tax costs, and ultimately see your profit margins on each product.

Not only will this help you optimize your pricing and boost your bottom line, but it’ll also give you a clear view of which products are most profitable and which may need to be reevaluated.

Calculating Cost of Goods Sold (COGS) for your store helps you in numerous ways, like:

1. Understanding profitability: By tracking your expenses and product costs, you can get a clear view of your profit margins on each product or service you sell. This knowledge can help you optimize pricing, identify opportunities to increase revenue, and make more informed decisions about which products to sell.
2. Identifying trends: By analyzing your COGS data over time, you can identify trends in product sales and adjust your business strategy accordingly. For example, if you notice that certain products are consistently selling well, you might want to invest in more inventory or focus on promoting those products.
3. Optimizing inventory: COGS data can help you optimize your inventory levels and reduce waste. By tracking your inventory levels and setting up alerts when stock is running low, you can ensure that you always have the right amount of product on hand.
4. Simplifying taxes: Accurately calculating your COGS can simplify your tax reporting and help you avoid costly mistakes. By understanding the costs associated with each product, you can calculate your gross profit and easily report your income and expenses to the tax authorities.
5. Tracking expenses: By tracking all of your expenses related to your products, such as materials, labor, shipping, and packaging, you can get a more accurate picture of your true costs and ensure that you’re pricing your products appropriately.

The Cost of Goods for WooCommerce plugin will work as a WooCommerce profit calculator, which comes with a lot of options allowing you to set up different cost types (e.g. shipping costs, taxes, product costs) and assign them to specific products or variations. You can also track your inventory and set up alerts to ensure you never run out of stock.

With intuitive reporting and analysis features, you can dive deep into your sales data to identify trends and opportunities. This plugin integrates seamlessly with WooCommerce, making it easy to get up and running quickly.

Whether you’re a small business owner or an experienced WooCommerce seller, the Cost of Goods for WooCommerce plugin is a must-have tool for optimizing your profitability and making data-driven decisions.

Here is quick overview of what the plugin can offer you.
After enabling the plugin, new “Cost (excl. tax)” input field will be added to the product’s edit page.

For variable products you can either set single cost for all variations:

or set costs for each variation individually:

Cost of Goods Plugin Options

Plugin options are located in “WooCommerce > Settings > Cost of Goods”.

• Products
  • Admin Products List Columns
  • General Products Options
  • Quick and Bulk Edit
• Orders
  • Admin Orders List Columns
  • Admin Order Edit
  • Calculations
  • Extra Costs: All Orders
  • Extra Costs: Per Order
  • Extra Costs: From Meta
  • Extra Costs: Payment Gateways
  • Extra Costs: Shipping Methods
  • Multicurrency
• Tools & Reports
  • Product Bulk Edit Costs Tool
  • Product Import Costs Tool
  • Orders Tools
  • Reports
  • WooCommerce Analytics
• Advanced
  • Force Costs Update
  • Columns Sorting

Products

Admin Products List Columns

This section lets you add custom “Cost of Goods for WooCommerce” plugin columns to WooCommerce admin products list.

Product cost

Displays product cost.

Default: no

Product profit

Displays product profit.

Default: no

General Products Options

Cost field label

This is used in admin single product edit pages. Available placeholders: %currency_symbol%.

Default: Cost (excl. tax) (%currency_symbol%)

Product profit HTML template

This is used in admin single product edit pages, and in admin products list “Profit” column. Profit percent is “profit / cost”. Margin is “profit / price”. Available placeholders: %profit%, %profit_percent%, %profit_margin%.

Default: %profit% (%profit_percent%)

Add stock

Adds “Cost of Goods: Add stock” meta box to the product edit page. This will automatically calculate new average cost of goods for the product, based on new “Stock” and “Cost” values you enter.

Default: no

Quick and Bulk Edit

Quick edit

Adds “Cost” field to product “Quick Edit”.

Default: no

Bulk edit

Adds “Cost” field to product “Bulk Actions > Edit”.

Default: no

Orders

Admin Orders List Columns

This section lets you add custom “Cost of Goods for WooCommerce” plugin columns to WooCommerce admin orders list.

Order cost

Displays pre-calculated order total cost.

Default: no

Order cost: Order statuses

Select order statuses to show cost column. Leave empty to show for all orders.

Default: None

Order profit

Displays pre-calculated order profit.

Default: yes

Order profit percent

Displays pre-calculated order profit percent (i.e. profit / cost).

Default: no

Order profit margin

Displays pre-calculated order profit margin (i.e. profit / price).

Default: no

Order profit: Order statuses

Select order statuses to show profit column. Leave empty to show for all orders.

Default: None

Admin Order Edit

Options for the admin order edit pages.

Item costs

Adds costs inputs for each order item to admin order edit page. Possible values: Enable; Readonly; Disable; Disable but show as standard meta.

Default: Enable

Order meta box

Displays “Cost of Goods” meta box on admin order edit page.

Default: yes

Order meta box: Order profit HTML template

This is used in meta box. Available placeholders: %profit%, %profit_percent%, %profit_margin%. Profit percent is “profit / cost”. Margin is “profit / price”. Please note: to display %profit_percent% and %profit_margin% for orders created before plugin v2.2.0 was installed, you will need to recalculate orders cost and profit.

Default: %profit%

Admin notice

Adds notice to admin order edit page in case if order profit is below zero.

Default: no

Admin notice: Text

“Admin notice” option must be enabled.

Default: You are selling below the cost of goods.

Fill in on add items

Fills in item costs with the default costs when adding new items (i.e. “Add item(s) > Add product(s)”).

Default: yes

Save on item edit

Saves item costs when editing order items (i.e. “Edit item > Save”).

Default: yes

"Recalculate" button

Select what should be done when admin clicks “Recalculate” order button. Possible values: Do nothing; Fill in empty item costs with the default costs; Fill in all item costs with the default costs; Save all item costs.

Default: Do nothing

Calculations

Here you can set some options for order cost and profit calculations. You will need to recalculate order’s cost and profit after you change these settings.

Count empty cost lines

Count empty cost items when calculating order cost and profit. You will need to recalculate order’s cost and profit after you change this option.

Default: no

Order total for percentage fees

Total to calculate all extra costs percentage fees from (“All Orders”, “Payment Gateways”, “Shipping Methods”). Possible values: Order subtotal excl. tax; Order total excl. tax; Order total incl. tax.

Default: Order subtotal excl. tax

Shipping to profit

Adds order shipping cost to the order profit.

Default: no

Fees to profit

Adds order fees to the order profit.

Default: no

Delay calculations

Select order statuses to delay all order profit, cost etc. calculations until. All values will be set to zero until the required order status is set. Leave empty to calculate right away on new order.

Default: None

Extra Costs: All Orders

Here you can add extra costs for your orders, e.g. handling fees. You will need to recalculate order’s cost and profit after you change these settings.

Fixed cost

In your shop currency.

Default: 0

Percent cost

Percent from order total (excl. tax).

Default: 0

Extra Costs: Per Order

Adds “Cost of Goods: Extra costs” meta box to admin order edit page. You may need to recalculate order’s cost and profit after you change these settings.

Handling fee

Default: no

Shipping fee

Default: no

Payment fee

Default: no

Columns

Will add “Extra Cost: Per Order” columns to the WooCommerce admin orders list. One column per fee.

Default: no

Extra Costs: From Meta

Adds extra costs from order meta. E.g.: Stripe – _stripe_fee, PayPal – PayPal Transaction Fee. You will need to recalculate order’s cost and profit after you change these settings.

Meta keys

Ignored if empty. One meta key per line.

Default: None

Extra Costs: Payment Gateways

Here you can add extra costs for your orders based on order’s payment gateway. You will need to recalculate order’s cost and profit after you change these settings.

Enable section

Enables/disables “Extra gateway costs” section.

Default: no

Payment gateway X: Fixed cost

In your shop currency.

Default: 0

Payment gateway X: Percent cost

Percent from order total (excl. tax).

Default: 0

Extra Costs: Shipping Methods

Here you can add extra costs for your orders based on order’s shipping method. You will need to recalculate order’s cost and profit after you change these settings.

Enable section

Enables/disables “Extra shipping costs” section.

Default: no

Use shipping instances

Enable this if you want to use shipping methods instances (with shipping zones) instead of shipping methods. Save changes after enabling this option.

Default: no

Payment gateway X: Fixed cost

In your shop currency.

Default: 0

Payment gateway X: Percent cost

Percent from order total (excl. tax).

Default: 0

Multicurrency

Here you can set currency exchange rates for your orders in non-default shop currency, i.e. order cost and profit will be converted to the default shop currency according to these rates.

Enable section

Enables/disables “Multicurrency” section.

Default: no

Currencies

Choose currencies you want to set exchange rates for, and “Save changes” – new settings fields will be displayed.

Default: None

Currency pair X (e.g. EURUSD)

Default: 0

Multicurrency Advanced Options

"Multi Currency for WooCommerce" plugin

When enabled, the plugin will try to get currency exchange rates from the “Multi Currency for WooCommerce” plugin (by VillaTheme) automatically.

Default: no

WooCommerce Analytics

Orders

Will add “Cost” and “Profit” columns to the “Analytics > Orders” report.

Default: no

Advanced

Force Costs Update

Force costs update on order update

Force empty order items cost update on each order update.

Default: no

Force costs update on order status change

Force empty order items cost update on order status change.

Default: no

Force costs update on new order item

Force empty order items cost update on new order item addition.

Default: no

Columns Sorting

Sortable columns

Makes columns added to admin products and orders lists sortable.

Default: yes

Sortable columns: Exclude empty lines on sorting

Default: yes

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Tools

 

Tools & Reports

Bulk Edit Costs Tool

Bulk edit tool is located in “Tools > Bulk Edit Costs”. Use it if you need to bulk edit costs for all products from a single page.

Search products

Possible values: Search by title; Search all.

Default: Search by title

Edit prices

Enable this if you want to edit product prices in addition to cost of goods.

Default: no

Manage stock

Enable this if you want to manage products stock in addition to cost of goods.

Default: no

Manage stock: Stock update method

Ignored unless “Manage stock” checkbox is enabled above. Possible values: Update product meta; Use product functions.

Default: Update product meta

Product types

Select product type(s) to list in the tool (e.g. simple products, grouped products, external/affiliate products, variable products etc.). Leave empty to display all product types.

Default: None

Import Costs Tool

Import tool is located in “Tools > Import Costs”. Use it if you need to import costs from other meta fields.

Key to import from

Meta key to import costs from.

Default: _wc_cog_cost

Orders Tools

Recalculate orders cost and profit for all orders

Set items costs in all orders (overriding previous costs). Enable the checkbox and save changes to run the tool.

Default: no

Recalculate orders cost and profit for orders with no costs

Set items costs in orders that do not have costs set. Enable the checkbox and save changes to run the tool.

Default: no

PHP memory limit

Will set PHP memory limit (in megabytes) right before tools are run. Ignored if set to zero.

Default: 0

Reports

Orders Report

Orders report: Order status

Select order statuses for the “Orders > Cost of Goods” report. “Refunded” status is added automatically where applicable. If left empty then default value (“Completed”, “Processing”, “On hold”) is used. Possible values: Pending payment; Processing; On hold; Completed.

Default: Completed; Processing; On hold

Orders report: Extra data

To display data gathered before the plugin v2.0.0, you will need to recalculate orders cost and profit. Possible values: Item costs (excluding fees); Fees (all); Shipping method fees (all); Shipping method fees (fixed); Shipping method fees (percent); Gateway fees (all); Gateway fees (fixed); Gateway fees (percent); Order fees (all); Order fees (fixed); Order fees (percent); Per order fees (all); Per order fees: Handling; Per order fees: Shipping; Per order fees: Payment; Meta fees (all).

Default: None

Cost of Goods orders report is available in “Reports > Orders > Cost of Goods”.

Stock Report

Cost of Goods stock report is available in “Reports > Stock > Cost of Goods”.