Profit > Cost Manager
In the Profit dashboard, head to the Cost Manager tab at the top.
Open Parents on the left and enter COGS for each Child ASIN:
Enter Net Costs (for EU Marketplaces)
Unit costs should be entered with net prices (= excl. VAT). The VAT amount, which the seller is due at the end of the year, is calculated based on the selling price, not the purchasing price.
If you are paying your supplier a gross amount ( = net amount + VAT), you are able to claim that tax back at the end of the year.
Costs in same Currency as Revenue
The costs need to be entered with the same currency as the respective marketplace's revenue - eg. pounds in the UK marketplace.
Enter Costs for each Marketplace
It is currently not possible to add costs to multiple marketplaces at the same time, but this is being worked on!
Upload at top right of Table
If you have a lot of products, you can also upload your costs.
What errors could be leading to a failed COGS upload?
The excel document is incredibly delicate and ANY changes to the formatting will result in a failed upload. On the first page of the upload document you will see specific instructions.
The most common errors include:
Manually adding asins to the list.
Change in document the structure.
Leaving the VAT field in the cost upload sheet empty, means the profit module will default to the marketplace rate entered.
If you enter a cost, but do not define a currency, an error will occur.
If a cost is left blank, the sheet will assume a 'zero' value.
Want to learn more about the Profit feature? Make sure to check our free University Course!