| Product/Service | SKU | Type | Category | Income account | Price | On hand | Avg cost | Inventory value | Reorder / preferred vendor | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Postcard Set of 10 | — | Inventory | — | $18.00 |
455
305 free
|
$4.50 | $2,047.50 |
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Options
Each value of each option becomes a variant with its own price, SKU and stock.
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Products & ServicesWhat you sell and what it costs. An inventory item carries quantity and weighted-average cost and posts COGS when it sells; a service item does neither, and that difference is the whole of the setup. Import brings a spreadsheet in, or reads a connected Shopify, Etsy or Amazon store — there you choose which products come in, where each one goes, and what comes over with it.
Create a product of type Assembly above, then define its components here.
| Product | SKU | On hand | Unit cost | Cost value | Unit price | Retail value | Potential profit | Margin |
|---|---|---|---|---|---|---|---|---|
| Fine Art Print, 12x18 | 301 | $14.00 | $4,214.00 | $48.00 | $14,448.00 | $10,234.00 | 70.8% | |
| Postcard Set of 10 | 455 | $4.50 | $2,047.50 | $18.00 | $8,190.00 | $6,142.50 | 75.0% | |
| Framed Print, 16x20 | 63 | $52.00 | $3,276.00 | $145.00 | $9,135.00 | $5,859.00 | 64.1% | |
| Total | $9,537.50 | $31,773.00 | $22,235.50 | 70.0% | ||||
Cost value is what the stock is carried at in your books. Retail value is that same stock at your current sales prices, so potential profit is what it would earn if it all sold at those prices, before any discount or selling cost. Margin is on the selling price. Cost value ties to Inventory on the Balance Sheet.