Cost of Goods Sold-Retail

[nodrogfarms]

We are having trouble with the Retail cost of goods sold. We downloaded the excel file, and filed in all the blanks and imported it back into square. However, when you go to click on the item the cost of goods box is blank. It's like nothing imported. What are we doing wrong? This was a huge selling feature to us and if we can't use it we will stop using the retail. 

[#2]

Hi @nodrogfarms, apologies for not seeing your post sooner! If I'm understanding correctly, it sounds like you're trying to update the cost of goods for past sales.

For the time being at least, there isn't a way to backdate the Cost of Goods report. It's understandably a popular request and I agree that it would be super beneficial. I shared your post with our Retail team as well so thank you for sharing the experience. 

By combining a couple reports you can find your average cost of goods on items, but I'll preface by saying that it's a pretty manual process, so far from ideal:

1) Export Projected Profit Report

2) Export Item library

3) Copy and paste the Current Quantity column from the Item Library to the Projected profit report

4) Divide the "Total Inv. Value" by "Current Quantity"

Hope that helps in the meantime. If you do need a hand with this, you can contact us directly and we'll get the case to a team member who is versed in supporting Retail features specifically. Thanks again!

[BABS]

I'm having the same problem.

[LeeWanner]

I have all my products for sale by specific names and categories. To account for goods sold, I literally looked through every item sold throughout last year in Square's "Items sold" feature. Took forever, but as a small business owner, you do what you gotta do to keep every dollar you earned.

One tip I can offer is, unless you found a better way, tally up your sales from the "create report" tab... that way Square won't automatcally log you out.

[nodrogfarms]

Can anyone from Square help? It looks like I'm not the only one with this problem. We spent all the time and now money going to retail, and now we can't enter cost of goods for items that were in square register. New purchase orders that we've created through retail has the cost but nothing past. We've done the excel sheet and we can't tell if it's even there. So frustrating! 

[Spenser]

Hi @nodrogfarms, apologies for not seeing your post sooner! If I'm understanding correctly, it sounds like you're trying to update the cost of goods for past sales.

For the time being at least, there isn't a way to backdate the Cost of Goods report. It's understandably a popular request and I agree that it would be super beneficial. I shared your post with our Retail team as well so thank you for sharing the experience. 

By combining a couple reports you can find your average cost of goods on items, but I'll preface by saying that it's a pretty manual process, so far from ideal:

1) Export Projected Profit Report

2) Export Item library

3) Copy and paste the Current Quantity column from the Item Library to the Projected profit report

4) Divide the "Total Inv. Value" by "Current Quantity"

Hope that helps in the meantime. If you do need a hand with this, you can contact us directly and we'll get the case to a team member who is versed in supporting Retail features specifically. Thanks again!

[nodrogfarms]

Spenser I am trying to update the cost of goods in the inventory management. When we were using register, square never asked us for that information. Now that we are using retail, we gave up quickbooks in hopes that this could be an all in one. When we login, there's a green header that says "fill in misisng cost of goods". We click on that, download the excel spreadsheet, fill all the blanks in and then upload it back in retail. When you go to click on the item again there is no cost of goods listed. We aren't even at the report stage yet because we can't even enter in the costs associated with the items. 

[Spenser]

Got it, thanks for clarifying @nodrogfarms. I see where you're coming from here, as this is bit confusing: When you update the cost of goods column, that information is being saved, however it is not reflected in the Dashboard, aside from in the reporting going forward. So while you're not seeing the cost listed, it should still show on your report. If that's not the case, then definitely contact us through the link above so we can look at your account. 

Again, thanks for surfacing the issue here! We'll keep sharing the feedback with the Retail team and will update here if this changes in the future. 

[nodrogfarms]

Can you please have someone contact us to help us with this report? The cost of goods is not saving into the item description. We need this to complete our reports for our shows!

[Spenser]

Hi @nodrogfarms, reach out to our Support team directly and we'll get you pointed in the right direction. Thank you!

[MP1]

Spenser - How long after entering unit cost does it take to be able to view reports? We have inputted all of our unit costs (for retail items excluding service items) and have not yet been able to see any of the Inventory Management Reports populated with data (all three reports show zeros for inventory, unit cost, etc.)

[Chad]

Hey @MP1, you're report should have updated by now. If you're still not seeing anything in the reports section I recommend reaching out directly to our Retail Support Team so they can look into this.