Profits: How to Add or Update Cost of Goods Sold (COGS)

Tracking your Cost of Goods Sold (COGS) is essential to understanding your business's true profitability. COGS represents the direct costs associated with selling your products, including manufacturing, shipping, and applicable tariffs.

The Profits tool automatically pulls sales data from supported marketplaces, but it does not automatically capture these cost details. To ensure profit calculations remain accurate and reliable, COGS must be entered and maintained manually.

COGS can be managed in Profits for Amazon, Walmart, and TikTok. The process for adding and updating COGS is consistent across these marketplaces unless noted otherwise.

Ways to Add or Update COGS

You can add or update COGS in Profits using either of the following methods:

1. Bulk update using a COGS file – Recommended when updating costs for multiple products at once.
2. Individual product update – Useful when adjusting costs for a single product or reviewing historical changes. 

Updating COGS in Bulk Using a File

Bulk updates allow you to add or update COGS for multiple products at once using a CSV file. This method is recommended when you need to manage costs for a large number of products or apply cost changes efficiently.

Bulk COGS updates follow the same workflow across supported marketplaces (Amazon, Walmart, and TikTok).

Accessing the Import COGS Option

To begin a bulk update:

1. Open the Profits tool.
2. Navigate to the COGS page.
3. Select Import COGS to open the import dialog.

Note: The Import COGS option may also be accessible from the Inventory Levels page for accounts on Free and Starter plans. For all other plans, use the COGS page for bulk imports. 

Downloading the Import Template

The import template provides the required file structure for bulk COGS updates.

To download the template:

• Click Download Template in the Import COGS dialog.
• Save the file to your device.

 Note: Export Template vs. Export COGS

There are two export options available in Profits:

• Export (Download)Template - Downloads a file structure you can use to format a bulk import file.
  • On Amazon and Walmart, the template may include active products.
  • On TikTok, the template is intentionally empty and includes headers only.
• Export COGS - Downloads your existing COGS data.

If you want to review or modify existing COGS values, use Export COGS. If you are preparing a new import file, use Export Template.

Editing the Template File

Open the downloaded template and enter or update your COGS values according to the import guidelines shown in the Import COGS dialog.

The template includes columns that represent:

• The product being updated (such as SKU and seller information)
• Cost values (Product Cost, Shipping Cost, Tariff)
• The period when the cost applies (Start Date and End Date)

Always rely on the downloaded template for the correct column headers and formatting.

Import Guidelines

When preparing the file, follow these rules: 
• Required fields & values

• Product Cost is required and must be a non-negative number.

• Optional fields

• Shipping Cost and Tariff are optional (leave blank or set to 0).
• Start Date and End Date are optional. 
  • The supported date formats are YYYY/MM/DD or YYYY-MM-DD. The earliest allowed Start Date is 2017-01-01.
  • If left blank, the cost is treated as persistent. If provided, it must be on or after the Start Date.

• Import rules

• Rows with unrecognized SKUs are ignored.
• All rows must match the same seller–marketplace context selected before downloading the template.
• The import file only supports the CSV format.

• Template integrity

• Do not edit, remove, rename, or reorder template headers/columns—this can cause the upload to fail. 

Saving and Uploading the File

Once you’ve finished editing the file:

1. Review all entries for accuracy.
2. Save the updated file.
3. Return to the Import COGS dialog.
4. Upload the file to apply your changes.

Once the upload is complete, the updated COGS values will be applied across all Profits reports. Please note that system recalculations may take some time to process, so the changes may not appear immediately.

Formatting Considerations

When editing the file in spreadsheet software, be mindful of formatting changes that can affect SKUs:

• Long numeric SKUs may be converted to scientific notation.
• Leading zeros may be removed.

To avoid issues, set the SKU column format to Text before entering or editing values.

For detailed guidance, see Microsoft’s documentation on keeping leading zeros and large numbers in Excel.

Manually Updating COGS for Individual Products

Manual updates allow you to add or edit COGS for individual products directly within the Profits tool. This method is best suited for one-off changes, reviewing historical cost entries, or making targeted updates without using a file to import.

The workflow for manually updating COGS is consistent across supported marketplaces (Amazon, Walmart, and TikTok).

Accessing Individual COGS Updates

COGS can be edited manually from the following locations in Profits:

• COGS page (primary location)
• Product Details → Product Information tab

Both access points use the same COGS editor and follow the same rules for persistent and time-based costs.

Editing COGS from the COGS Page

Once again, the COGS page is the main location for managing Cost of Goods Sold across your products. From this page, you can view existing COGS entries and open individual products for editing.

Updating Existing COGS Values

For products that already have COGS configured:

1. Open the product from the COGS page or Product Details.
2. Select Edit to view current and historical COGS entries.
3. Update the relevant cost values or date ranges as needed.

From this view, you can review existing entries and adjust without re-entering all values. 

Adding COGS for Products Without Existing Values

If a product does not yet have COGS configured, it will not appear in the COGS list.

To add COGS for a new product:

1. Open the COGS page.
2. Select Add COGS.
3. Choose the product you want to update.
4. Enter the required cost details.

Note: Choosing the COGS Type

When adding or editing COGS, choose how the cost should be applied:

• Persistent 
    A single cost that applies indefinitely until changed.
• By Period 
    Costs that apply only within specific date ranges.

Use By Period when product costs change over time, such as after supplier price updates or shipping cost changes.

Entering Cost Details

When configuring COGS, you can enter:

• Product Cost (required)
• Shipping Cost (optional)
• Tariff (optional)
• Start Date (required)
• End Date (optional)

If no End Date is provided, the cost is treated as persistent.

Adding Additional Date Ranges

For products with changing costs, you can add multiple date ranges under By Period to track cost changes over time.

Each date range represents a separate cost period and is applied automatically when viewing Profits reports for the corresponding timeframe.

Saving and Reviewing Changes

After entering or updating COGS values:

1. Review the information for accuracy.
2. Save the changes.

Updated COGS values will be applied across all Profits reports, including Product Performance and Profit & Loss (P&L) views. Please allow time for the system to complete recalculations, as updates may not be reflected immediately.

Editing COGS from Product Details from other pages in the Profits tool

COGS can also be viewed and edited directly from a product’s details page in Profits such as in Inventory Levels and Product Performance page.

To access COGS from Product Details:

1. Open Profits and navigate to a product list (like in Inventory Levels or Product Performance).
2. Click the product title to open the product details view.
3. Select the Product Information tab.
4. Scroll to the Cost of Goods Sold section and select Edit.

Pro-Training Video on Adding COGS (Optional)

If you prefer a walkthrough, you can watch the training video from any Profits page:

1. In Profits, click Learn (upper-right corner).
2. Scroll and select “Profits – How to Add Your Cost of Goods (COGS).”

Verifying Your COGS in Profits

After adding or updating COGS—either in bulk or for individual products—it’s important to confirm that the changes are applied correctly.

To verify your COGS values:

• Navigate to the Profits dashboard.
• Review product-level performance or open the Profit & Loss (P&L) view.
• Adjust the date range to ensure the correct COGS values are applied for the selected period.

If you’ve configured time-based COGS, Profits automatically applies the appropriate cost for each date range. For persistent COGS, the same cost is used until it is updated.

Updated COGS values are reflected across Profits reports, including:

• Product performance
• Profit & Loss (P&L)
• Account-level summaries

Keeping your COGS accurate and up to date ensures that profit calculations and insights reflect the true cost of selling your products.

IMPORTANT NOTICE:

1. The COGS value displayed in the Inventory Levels page is calculated based on current inventory quantity, not on units sold. Specifically, the calculation uses: 

COGS per Unit × Available Units

2. Starter and Free plans provide basic access to the Profits and Inventory Management tools using standard (legacy) reporting. While these plans do not include the latest enhancements, the tool remains fully accessible and continues to provide data using the existing logic and reporting experience. 

Frequently Asked Questions (FAQs)

Do I need to enter COGS manually?

Yes. While Profits automatically pulls in sales data from supported marketplaces, COGS must be entered manually to ensure accurate profit calculations.

Can I update COGS for multiple products at once?

Yes. You can update COGS in bulk by importing a CSV  file, or update COGS individually for specific products using the Profits interface.

What’s the difference between Export Template and Export COGS?

• Export Template downloads a file structure you can use to prepare a bulk import file.
• Export COGS downloads your existing COGS data.

On TikTok, the export template is intentionally empty (headers only). On Amazon and Walmart, the template may include active products.

What happens if I leave the End Date blank when entering COGS?

If no End Date is provided, the cost is treated as persistent and continues to apply until it is changed.

Can I track cost changes over time?

Yes. By using time-based (By Period) COGS, you can apply different costs to different date ranges. Profits automatically uses the correct cost when viewing reports for a selected period.

Are Shipping Costs and Tariffs required?

No, shipping Costs and Tariffs are optional. Only Product Cost and Start Date are required.

What happens if my import file includes an unrecognized SKU?

Rows with unrecognized SKUs are ignored during the import process.

Can I manage COGS for Amazon, Walmart, and TikTok?

Yes. COGS can be managed for all supported marketplaces. The workflow is consistent across platforms unless noted otherwise.

Where can I check if my COGS updates were applied correctly?

You can review updated COGS values in the Product Performance and Profit & Loss (P&L) pages within Profits. Adjust the date range as needed to confirm that the correct costs have been applied.

Please note that the system requires time to recalculate and process updated COGS values, so changes may not be reflected immediately.

Why isn't my product showing on the COGS page list?

1. No COGS has been added yet. Only products with COGS already added will appear in the list. However, you can manually add the COGS value for that product by clicking the ‘Add COGS’ button in the COGS page.
2. If there is already COGS added, you filtered to the incorrect marketplace, or the product is currently inactive.

Why is COGS showing zero in the P&L calculation?

1. No COGS has been added yet.
2. For By-Period type: The date period in the P&L calculation is before the start date of the COGS configured. Orders placed before the start date will not reflect COGS in net profit calculations, as the system does not retroactively apply COGS to historical data.
3. No sales occur. If there are no orders within a specific period, there are no associated costs of goods sold to calculate, which is why COGS does not appear for that timeframe.

Why don’t I see the COGS page in my Profits tool?

You are likely under the Starter plan or on a Free plan. The Starter and Free plans operate on the legacy version of the Profits tool, which uses the prior data logic and reporting framework. Access to the tool and its data remains unchanged, but enhanced features are not included with these plans.