The WooCommerce Cost of Goods extension is a powerful plugin that allows store owners to track the cost of goods sold for their products.
This information is crucial for improving profitability and optimizing business operations.
The plugin enables users to add a Cost of Good field to simple and variable products. Users can quickly and easily add costs to each product, including variations.
This feature allows users to calculate total order costs accurately, providing a clear understanding of what they earned on every order, not just how much they sold.
Total costs for each order line item are saved at checkout. Even if the cost of goods increases in the future, the total costs are always historically accurate.
The Cost of Goods extension allows users to determine the most and least profitable products for their store, not just those that generate the most revenue.
This information is valuable for focusing marketing efforts on top-performing products and optimizing advertising campaigns.
The plugin includes in-depth reporting features that provide users with actionable insights into their business.
Reports include profit by date, profit by product, most/least profitable sellers, profit by category, and inventory valuation.
Users can view the total profit for any product category or multiple categories for a date range.
The plugin’s powerful configuration features allow users to apply costs to previous orders, providing immediate insight into profitability.
Users can update previous orders from the Settings menu without waiting for new sales to roll in.
Overall, the WooCommerce Cost of Goods extension is a must-have plugin for store owners looking to improve their profitability and optimize their business operations.
It provides valuable insights into the cost of goods sold and helps users make informed decisions that can drive their business forward.