There are multiple ways to add cost to an item in InventoryLab. When you are first starting out, obviously InventoryLab will not know your costs for an item. You will need to add your price per unit to an MSKU, so that your transactions can calculate net profit, as well as your net profit and COGS overall.
In order to update your cost, the most efficient way is to add your cost to your MSKUs in the active/inactive inventory pages. This allows all corresponding order ID’s that contain the MSKU you are adding cost to, to update with the appropriate buy cost rather than having to enter you cost for each order ID individually. Furthermore, all future sales that contain that MSKU will automatically update with your corresponding cost as well.
- If you keep a spreadsheet of all of your Price Per Unit for each MSKU, please view this section to learn how to import costs.
- Once you have all of your MSKUs updated with a Price Per Unit, all of your legacy transactions should be fully accounted for.
- If you are using InventoryLab to list, you will also be able to stay on top of all of your new MSKUs by adding your price per unit as you list.
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