Report Cost Of Goods (COGS) and Profit Margin using Google Sheets
To calculate the profit margin, we need to add the cost of the goods in the report. Shopify does not provide the COG data through its API.
So, we need to add the COG data manually in the report to calculate the profit margin.
There are two ways to add the COG in the report:
1) By entering the COG values in metafields
2) By entering the COG values in the custom Google Sheet template.
1) Entering COG values in metafields:
-> Add the chrome extension called " ShopifyFD Dashboard Tool" for adding metafield to the variants - https://chrome.google.com/webstore/detail/shopifyfd-dashboard-tool/lffljkleilfpjlmcdnoaghhcbnemelge?hl=en
-> Edit one of your product variant in Shopify and add metafield details and click "Save"
-> After adding the cost to the variants, we can add these metafield fields to your report. These meta fields can be accessed through Data Export for your reporting.
2) Entering COG Values in the custom Google Sheet template:
We will create the a Google Sheet template with Product Title, SKU and COG columns:
Once we create the Google Sheet template, we will send the link with editable access to you.
You need to enter the cost of goods values for all the products in the COG column.
Once done, you need to send the Google Sheet link back to us. We will then manually add it in the report.
After adding the cost of goods, we will deduct the total sales with the cost of goods values to determine the profit margin.
Profit Margin = Total Sales - Cost Of Goods