Overview
Accurately inputting your Cost of Goods Sold (COGs) into Triple Whale is crucial for understanding your true profitability and making informed business decisions. COGs represent the direct costs associated with producing your products, and having this data integrated into Triple Whale provides a comprehensive view of your financial health.
By tracking and analyzing COGs within Triple Whale, you can accurately assess profit margins, optimize pricing strategies, and better manage inventory costs. This integration ensures that your financial reports reflect the real costs of your products, enabling you to maximize profitability and drive sustainable business growth.
Import COGs to Triple Whale
If you have already input your Cost per item in Shopify or BigCommerce, those will be automatically imported into Triple Whale.
Update COGs in Triple Whale
To input your Cost of Goods in Triple Whale, head to Settings > Cost Settings. Here you will find a complete list of your products. Add your COGs in the Product Cost column.
Click on the name of any products with variants, and a dropdown of all the variants will appear. Input the unique cost per variant to ensure that profit tracking will be as accurate as possible.
Bi-Directional COGs
By default, editing Costs in Triple Whale will not change anything in your native store site. However, if you would like to make changes to your COGs in Triple Whale and see those changes reflected in Shopify or BigCommerce, you can do so by enabling the Bi-Directional COGs feature.
Handling Fees
You can also input a custom Handling Fee on a per-product level, or as a fixed cost. To set a fixed cost, click Enable Fixed Handling Fee per Order, input the fixed fee amount, and click Save. Note that it will take up to 24 hours to update all your order data with this change.
Reviewing COGs
You can view the Cost of Goods value breakdown by clicking on the COGs tile on the Summary dashboard. In this breakdown, you will see for the selected date range:
COGS Orders: The COGs for all orders
COGS Refunds: The COGs for all returns & refunds
COGS: The Net COGs after deducting returns & refunds.
When do COGs for Refunds get deducted?
COGs for returned & refunded orders will be reflected on the day of the refunded order, with the COGs amount remaining the same as when the order was placed.
For example: on January 1, a $200 order is placed for 2 products with a total $20 of COGs. On January 2, a $100 refund was issued for 1 product in that order, equaling $10 of COGs.
In Triple Whale, the COGs metric for January 1 will remain $20. The COGs metric for January 2 will be -$10. The COGs metric for January 1-2 will be $10.
Edit Changing COGs
If you would like to adjust the Product Costs or Handling Fees in Triple Whale for historical data in Triple Whale, you can update the costs within Cost Settings.
Locate the relevant product or variant. In the Product Cost column (or Handling Fees, if that's what you'd like to edit), click the Time icon to show the Cost History Timeline.
Now you can Add a Cost and identify the date from when this change took effect. When you're finished, click Save.
Frequently Asked Questions
1. What happens to my previous order COGs if I change them in Shopify?
Triple Whale saves COGs values over time, so that the COGs being used in daily calculations accurately reflect the time-specific costs.
2. Can I bulk upload COGs into Triple Whale?
Triple Whale automatically imports your COGs from Shopify. To bulk edit these values in Shopify > Products, select multiple items and click Bulk edit.
3. If I am using WooCommerce, can I upload COGs?
You can now upload COGs for WooCommerce shop accounts via CSV upload.