When we downloaded inventory report Amazon, there are removal, disposal column…How do we handle them? Those are unit we pay for it. Can we deduct somewhere or count assume Cogs?
When you are talking about SKUs do you mean the SKU that I created for each product, or the SKU that is associated with the vendor that I purchased the product from?8
Yes, this would be called the landed costs. If you are moving the landed costs onto the balance sheet they should also be included in the product costs. If you are expensing those fees right away you would not want to include them in the product costs.
Hmmm, that's strange. I just checked the automation and it seems to be working properly. Try emailing me directly and I'll get it to you. kbirrell@ledgergurus.com
Let us know if you need help with your COGS accounting - ledgergurus.com/services/cogs-accounting/.
Thank you so much for sharing your inventory template. Can this template also be used for a small handmade business like for Etsy or Shopify sellers?
Absolutely. You can adjust it to fit your needs.
When we downloaded inventory report Amazon, there are removal, disposal column…How do we handle them? Those are unit we pay for it. Can we deduct somewhere or count assume Cogs?
When you are talking about SKUs do you mean the SKU that I created for each product, or the SKU that is associated with the vendor that I purchased the product from?8
SKU you created for each product
@@LedgerGurus thank you so much. I figured it out. Thank you for the informative videos too. They are saving my life right now!
@@purelaxer so glad! Feel free to let us know if you have more questions
Thank for the video. So for the cost shipping to Amazon warehouse after supplier ship to me. Can I add that cost to the product cost?
Yes, this would be called the landed costs. If you are moving the landed costs onto the balance sheet they should also be included in the product costs. If you are expensing those fees right away you would not want to include them in the product costs.
How do you calculate COGS if you make all one of a kind items? Do you calculate an average?
Average costs is super ideal for one-of-a-kind item where the costs across items are about the same.
Should I still keep track of my inventory if I have programs that do it for me
You definitely need to be tracking it so you can base decisions off good numbers. Just choose the method that works best for you.
I can't download the template. Keep getting an error message.
Hmmm, that's strange. I just checked the automation and it seems to be working properly. Try emailing me directly and I'll get it to you. kbirrell@ledgergurus.com
Hi, if I do Amazon FBA Wholesale, do I include shipping, placement and Amazon fees into my COGS ? Thanks.
Yes, because all those costs are part of what it costs to sell your products.