Inventory and COGS for Shopify | How to Do It Right!

Inventory and cost of goods sold (COGS) accounting for Shopify sellers is not straightforward. But getting it right is critical to having accurate profit margins to help you make better business decisions for your ecommerce business. In this video, we'll show you: 👉 The rookie mistakes we see Shopify sellers make all the time 👉 How to do it right We also go over how COGS hits your financial statements when it's done correctly. ◾◾◾◾◾◾◾ 🔥 If you need help with your Shopify accounting, contact us here: https://ledgergurus.com/ecommerce-accounting-services/shopify-accounting-services/?utm_source=youtube&utm_medium=referral&utm_campaign=shopify-cogs ◾◾◾◾◾◾ ⬇️ MORE STUFF YOU SHOULD CHECK OUT ⬇️ ** INVENTORY & COGS PLAYLIST: ** https://www.youtube.com/playlist?list=PL8z_d3aPaZE-n25ANPG09V08UwrpiDB8E ** The Difference between Cost of Sales & Cost of Goods Sold (COGS) in eCommerce ** https://youtu.be/B809m7WKPsE ** BLOG: How to Record a Cost of Goods Sold Journal Entry ** https://ledgergurus.com/cost-of-goods-sold-journal-entry/?utm_source=youtube&utm_medium=referral&utm_campaign=shopify-cogs ** COGS Explained for eCommerce Sellers ** https://youtu.be/DXV4q9vqRMg ** BLOG: Your Road Map for Good Inventory Management ** https://ledgergurus.com/a-road-map-for-good-inventory-management/?utm_source=youtube&utm_medium=referral&utm_campaign=shopify-cogs ** If you're interested in our ecommerce accounting services, click here to contact us: ** https://ledgergurus.com/ecommerce-accounting-services/?utm_source=youtube&utm_medium=referral&utm_campaign=shopify-cogs ◾◾◾◾◾◾◾ 🧑‍💻 EMPLOYMENT OPPORTUNITIES: We are always looking for awesome CPAs, accountants, and bookkeepers to join our team. If you're interested in working for LedgerGurus, check out our careers page: https://ledgergurus.breezy.hr/?utm_source=youtube&utm_medium=referral&utm_campaign=shopify-cogs ◾◾◾◾◾◾ 👋 SAY HI ON SOCIAL: Website: https://www.ledgergurus.com/?utm_source=youtube&utm_medium=referral&utm_campaign=shopify-cogs Facebook: https://www.facebook.com/LedgerGurus Twitter: https://twitter.com/LedgerGurus LinkedIn: https://www.linkedin.com/company/ledgergurus/ Instagram: https://www.instagram.com/ledgergurus/ https://youtu.be/ZLsIOlm75RA #shopifyaccounting #ecommerceaccounting #ledgergurus