The columns: Purchase price + cost = Cost of goods. The Cost of goods value is the key for any calculation in Cost & Reports. If you only have Cost of goods the plugin will try to calculate backwards then you see that cost = cost of goods and purchase price is empty. If you know purchase price and then add this the cost field will automatically adjust its value. But you can use Cost & Reports without setting purchase price and cost if you like.
So with this in mind, let us play with some examples.
I want to bulk update my products with 50% profit
I have values in Cost of goods so then we enter 150 in the bulk input field for Markup (100 + your profit i.e 50). Select the Set fixed and now you will see the New price (suggested price) has a 50% profit. So compare it with the current price and if OK click the “Save all” button. This changes your current price to equal the New price.
I want to increase each price by 18.5% for freight then double the resulting price to give me a new sell price.
To do this we need to figure out the Markup (for bulk set Markup on every product). So we start by adding 118.5 in Markup (then the suggested new price has added 18.5%). So we want to double (add 100%), then in New price we add 100 (increase by %). Now we see that Markup is 237 so this Markup is the number we now can add (set fixed) as Markup for the rest of our products – then all our prices will have this calculation.
I want to add Fees or Shipping cost to my calculations
To add Shipping cost (or Fees) go too: WooCommerce > Settings > Cost & Reports. Find Shipping cost: name. We want to call it Fees so we enter Fees then we check the checkbox: Show shipping cost + Save
Then go back to Cost & Reports. Now you have a new column labeled Fees and you can add values that will be included in Cost of goods. ( Purchase price + Cost + Fees/Shipping cost = Cost of goods)
