Inventory management & COGS
Track your products, inventory and cost of goods sold (COGS), including InventoryIQ.
By Emily and 2 others3 authors26 articles
Products & COGS methods
Choose a COGS method and manage products and cost per unit.
- How to choose your COGS tracking method in FinaloopCompare the purchase-based, sales-based and InventoryIQ methods for recording cost of goods sold (COGS) in Finaloop and pick the one that fits your inventory, so your P&L and balance sheet…
- What happens when you categorize a purchase as inventory or COGSSee how categorizing a transaction to an inventory category affects your Profit & Loss and Balance Sheet under each cost of goods sold (COGS) tracking method, so you know how…
- How sales-based cost of goods sold works in FinaloopSet up sales-based cost of goods sold (COGS, shown in settings as Sales based), from your opening balance and inventory purchases to cost per unit and merging products, so each…
- How purchase-based cost of goods sold works in FinaloopSee how Finaloop's purchase-based cost of goods sold (COGS, shown in settings as Purchase based) records inventory purchases as COGS when they're received and adjusts your inventory at year end,…
- Reporting inventory restocksLearn how to report or update products restocked in your warehouse if you use our sales based COGS tracking method
- Merging multiple products
- Managing Dropshipping (Sales-Based COGS)Learn how to setup and manage dropshipping if you are using our sales-based COGS method
- Updating inventory based on physical countsLearn how to update your Finaloop inventory to match your actual stock after a physical inventory count.
- How to calculate your landed cost per unitThis articles explains landed costs for both sales based COGS and InventoryIQ
- How to expense small supplies like bubble wrap directly to COGS (incidentals)Record small supplies (incidentals) like bubble wrap and tape straight to cost of goods sold (COGS) instead of inventory in Finaloop, if you use sales-based COGS or InventoryIQ.
- How to: Find your inventory balance on your tax return
- Confirming inventory balance at year-end
- How Margins calculates your COGSMargins calculates cost of goods sold by multiplying units sold by your average cost per unit, so your product margins and channel comparisons reflect what each sale really cost you.
- Adding your cost per unit in MarginsSync your costs from Shopify or add them yourself for one product, many at once, or by CSV, so Margins can calculate accurate product margins.
- Calculating your average cost per unit in MarginsWork out your landed cost per unit, including product, freight, duties and fees, so the margins you see in Margins reflect what each unit really cost.
- Why are my products missing cost per unit in Margins?Find out why Margins shows products missing a cost per unit, what it does to your margins, and how to clear the banner.
InventoryIQ
Purchase orders, warehouses, shipments and inventory accuracy in InventoryIQ.
- Managing recipes & assemblies
- Managing your Supply Chain
- Managing your POs in FinaloopCreate, update and track purchase orders (POs) in InventoryIQ so every unit gets an accurate landed cost and your vendor balances stay up to date.
- Importing purchase orders from a CSV or Excel fileCreate many InventoryIQ purchase orders at once by uploading a CSV or Excel file, then review and save them in one pass.
- Managing your Shipments & Receipts
- Automatically Syncing Shipments, Receipts, & Transfers
- Fixing Negative Vendor BalancesFind out why an InventoryIQ vendor shows a negative rolling balance and fix the missing PO, payment or historical payment behind it.
- Why do I have units with missing costs in InventoryIQ?Find and fix units with missing costs in InventoryIQ so your cost of goods sold (COGS) and inventory value stay complete and accurate.
- Managing Dropshipping (InventoryIQ)Set up dropshipping in InventoryIQ and learn the two ways Finaloop records dropshipping COGS: from vendor payments and bills, or from automatic dropshipping purchase orders.
- InventoryIQ: Adding adjustments based on a physical count