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(Resolved 12/18/23) COST OF GOODS REPORT STOPPED WORKING AFTER 12/14/23

The title of this thread has been edited by a Square Moderator from the original: "COST OF GOODS REPORT STOPPED WORKING AFTER 12/14/23"

On square dashboard COGS reports have stopped working as of 12/14/23. 12/15 & 12/16 show profit at 100% and cost of goods a ZERO. Please report to engineers. @_Violet 

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Square Community Moderator

Best Answer

Hi all, I'm back with another update!

Our Engineers have successfully implemented the backfill to restore missing data from these reports. You will now see up-to-date information when generating COGS reports.

Please let me know if you are experiencing any further issues. Thanks for your patience while our team worked this one out 🙏

@MountainHouse @ThreeBarsFeed @squirrelandnut

Violet
Community Moderator, Square
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Hello @Threelittlebird- I see this is your first post in the Seller Community, so I'd like to officially welcome you! 🎉👏

 

Oh no, I am sorry you are having issues with your COG report. To get a better idea of why this happening our team will need to take a look at your account. I recommend contacting our team, so we can take a deeper dive into this. You can reach support at

1-855-700-6000, squ.re/contactsqsupport. I hope this helps! 

 

 

 

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@Westbo,

 

Welcome to the Seller Community!

 

This thread was created back in December when there was a technical issue with the COGS reporting. The issue was resolved and the affected dates were corrected. I have not experienced the problem again, so I just want to make sure that you have a basic understanding of how Square COGS works.

 

Square's COGS is determined based on a First-In First-Out (FIFO) methodology and not what the current Unit Cost is set to on your Item/Variation. The Unit Cost must be set on all inventory receiving transactions (Manage Stock or Purchase Order Receiving) at the time the transaction is processed. The cost should be set based on the current purchasing price from your vendor. When the item is sold, it will use the unit cost specified on the receiving transactions in the order they were processed. For example, if you purchase 5 for $3.00 and then purchase an additional 10 at a later date for $3.25, your first 5 sales will use a COGS of $3.00 and the remaining 10 will use the $3.25 cost. "First-In First-Out". Note: this also applies to Manage Stock transactions that reduce the inventory for damage, theft, etc.

 

The Unit Cost on the Item/Variation should be considered a default value and will be set to the value from the most current receiving transaction, but it does not influence the COGS reporting.

 

CC: @RobynR @GFGuitar 

Patti
Owner
TwinkleToes Dance Store

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@MountainHouse, @_Violet 

 

Just confirming that I have the same issue and it's not something specific to @MountainHouse. The profit margin of 100% is also being incorrectly displayed on the dashboard home screen when selecting one of those dates or a date range that includes those dates.

Screenshot 2023-12-17 091428.gif

I did verify that Square is identifying the correct unit cost for the sales by looking at individual transactions on the Inventory Management History report. For me, the report is used to identify summary financial transaction for QuickBooks that will debit the Cost of Goods Sold and credit the Inventory asset, so it needs to be addressed ASAP. I'm not sure how the data is stored internally, but the fix must be retroactive to allow looking back over different date ranges. If it's just an issue in how the unit cost is being determined for the report and the underlying data is correct then we should be good. If the data for these is maintained separately from where the Inventory Management History report is sourced, then the underlying data must be corrected so we can count on accurate reporting. As an example, there may be customers that don't know there's an issue because they are always using a date range and have no idea that some of the dates are not included in the calculated and aggregate values.

 

Regards,

Patti

 

 

Patti
Owner
TwinkleToes Dance Store
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Thanks for confirming its not just me! 🙂

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Super Seller

Hey @ThreeBarsFeed.  You’re not alone.  Here’s a link to another thread posted yesterday by @MountainHouse (and verified by @TwinkleToes) with that same problem.  It looks like there was a bug introduced on 12/14.  Since an admin was tagged on that other post (@_Violet) I’ll just note that these two threads should be merged so that everyone affected is notified when a fix happens.

 

Good luck.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
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Click here to see a list of third-party apps I use to add functionality to my Square account!

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When we run our Cost of Goods Sold report, none of our costs are coming in so it's reporting that our profit margin is 99%.   We noticed this on Thursday (12/14) thought it was a 1 day glitch but since then every day the reporting is incorrect.  Is anyone else having this issue or does anyone know what may be causing it and how to rectify it?   We've used this report for 2+ years to monitor daily margin and catch errors.   On other threads it says costs aren't entered or tracking isn't on...which is not the case for us - we've been using the report and one day the costs are just gone from the report - but when we look at the individual items they all have costs and tracking is on.

 

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Same issue here! Does admin not work weekends???

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Super Seller

There are one or two admins each weekend day, from what I’ve seen.  But like most help desks, Square’s support team is not a full boat on weekends, especially engineers and other highly paid employees.  I guess they could be fully staffed every day, but trust me we’d be paying a lot more than we do already.  Even colleagues I know who use competitors (Clover, etc) complain about lightly staffed weekend support teams.  You and I both tagged an admin.  I’m sure that someone will get to one of these threads soon enough.

 

I’m tagging what I can and even sending some back-channel messages for the really critical stuff.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

जो है सो है
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Square Community Moderator

Hi all @MountainHouse @TwinkleToes @TheRealChipA @ThreeBarsFeed

Thank you for your patience here. I am personally out of office on Fridays and Saturdays, but my teammates will receive your posts and respond when I am not online.

As for this issue with the CoG Report, I'm sorry to hear that you're having trouble with this. I haven't found any reports outside this thread. We'll need you to connect with our Support Team so they can gather the information required to create a support ticket, as we cannot access your Square account information here in the Seller Community. They will likely need some examples from your reports as well. Then, our engineers can investigate this further.

If you haven't already,
please reach out to Support directly by logging into your Square account and heading here.

Violet
Community Moderator, Square
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Hey everyone, @MountainHouse @squirrelandnut @_Violet @TheRealChipA @ThreeBarsFeed 

 

I haven't received any official communication, but I just took a look and the COGS report is now showing the correct costs again. So looks like they've "fixed the glitch".

 

Have a good one everybody.

 

Regards,

Patti

Patti
Owner
TwinkleToes Dance Store
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Square Community Moderator

Hey there, @TwinkleToes - Thanks for the update! That's definitely some good news 🙏

Our engineers are aware of this issue and have been working on a fix today. I have shared this feedback with them as well.

I will let you all know once they have confirmed that this issue has been resolved cc: @MountainHouse @ThreeBarsFeed @squirrelandnut

Violet
Community Moderator, Square
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Hi all, I'm back with another update!

Our Engineers have successfully implemented the backfill to restore missing data from these reports. You will now see up-to-date information when generating COGS reports.

Please let me know if you are experiencing any further issues. Thanks for your patience while our team worked this one out 🙏

@MountainHouse @ThreeBarsFeed @squirrelandnut

Violet
Community Moderator, Square
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I am still experiencing this issue!

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Square Community Moderator

Since our engineers have reported this as resolved. I will go ahead and advise you to reach out to our support team, so they can get this escalated for you.

JJ
Community Moderator, Square
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I have and it's been no help. They said everything is reporting correctly despite me sending screenshots showing that it is not. So I'm unsure of what to do at this point.

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Did you get this resolved?

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We are still having trouble with certain items not having the COGS reflected in reports.

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Square Community Moderator

Hey there @GFGuitar, Welcome to The Seller Community! We are happy to have you! 😀🎉👋

 

You entered in unit cost for these items, and It's still not reflecting correctly in the COGS report? Since we cannot access your account information here in community I suggest you reach out to support, so our team can investigate this further.

 

 

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Thank you very much! That is the issue we are having. I will reach out to support.

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How do I get this applied to my COGS?

 

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Square Community Moderator

Hey @Westbo,

 

We are glad to have you in the Community.

 

Please also check out this Best Answer from Maya P above.

 

If that doesn't apply, can you provide more details on what you are looking to get applied to your COGS?

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I am having the same issues.

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