YITH Cost of Goods for WooCommerce Premium v2.6.0 GPL

YITH Cost of Goods for WooCommerce Premium Overview

The YITH Cost of Goods for WooCommerce Premium plugin helps e-commerce store owners monitor and analyze the relationship between product costs and revenue. By keeping track of all costs associated with your products—such as shipping, taxes, payment gateways, and more—this plugin ensures that you can accurately calculate your profits and make informed business decisions. This tool is crucial for preventing the hidden costs that could lead to unexpected losses, just like the case of Jonathan, a fictional entrepreneur who underestimated essential costs, leading to his business failure.

Benefits

1. Accurate Profit Tracking:
   • By tracking all costs associated with your products, you can easily determine your actual profit margins and avoid potential financial pitfalls.
2. Informed Business Decisions:
   • With detailed sales and stock reports, you can make better decisions regarding pricing, promotions, and product selection based on actual profit data.
3. Comprehensive Cost Overview:
   • This plugin gives you a 360-degree view of all your product costs, helping you identify which products are profitable and which are not.
4. E-commerce Success:
   • With the ability to calculate potential profits and adjust for hidden costs, you can optimize your store’s performance and prevent the issues that lead to business failure.

Key Features

Cost Tracking and Reporting

• Add Product Costs:
  • Easily add the cost of goods to all products in your store, including variable products. You can set the same cost for all variations or different costs for each variation.
• Detailed Sales Reports:
  • Get a detailed report of your shop’s sales, including the profit made from each product sold. This helps you understand your earnings on a per-product basis.
• Filter Sales Reports:
  • Filter sales reports by different criteria, such as order status, to better understand which sales are contributing to your profits.
• In-Stock Products Report:
  • View a detailed report of in-stock products and calculate the potential gain if those products were sold. This helps you forecast future earnings.
• CSV Export:
  • Export your stock and sales reports into a CSV file for easy analysis and record-keeping.

Cost of Goods Integration

• WooCommerce Cost of Goods Import:
  • Import the cost of your products directly from WooCommerce Cost of Goods, making it easier to manage costs across your store.
• Customizable Reporting:
  • Decide when to show products in the Cost-of-Goods Reports, whether only for completed orders, processing and completed orders, or for all orders.

Currency Support

• Aelia Currency Switcher Compatibility:
  • The plugin is compatible with the Aelia Currency Switcher, ensuring that the cost of goods is updated for every currency in your store.

Use Cases

1. Profit Margin Analysis:
   • Track the cost of goods for each product to calculate accurate profit margins and adjust pricing or promotions accordingly.
2. Forecasting and Stock Management:
   • Use the in-stock products report to forecast potential earnings and optimize stock management based on profitability.
3. Business Planning:
   • Use detailed sales reports to understand which products are most profitable and which ones might need adjustments to improve their profitability.
4. Cost Optimization:
   • Track hidden costs like shipping, taxes, and payment gateway fees to ensure that your pricing covers all expenses and leads to sustainable profits.

Conclusion

The YITH Cost of Goods for WooCommerce Premium plugin is an essential tool for e-commerce store owners who want to gain a clear understanding of their product costs and profit margins. By tracking all the hidden costs and providing detailed sales and stock reports, this plugin helps you make informed decisions to optimize your store’s performance and profitability. Whether you’re managing a large product catalog or just want to track your margins more effectively, this plugin provides the tools needed to succeed in a competitive online market.