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Enter product costs monthly
Enter product costs monthly

How the monthly product costs feature works

Daniel Little avatar
Written by Daniel Little
Updated over a week ago

Why do I need to enter product costs?

You only need to enter product costs if you're using our Cost Of Goods Sold tracking feature or for our Amazon Month End Inventory reports.

How do I enter products costs?

There are two ways to enter product costs in Link My Books.

  1. Enter product costs as an average and update them regularly as required

  2. Enter product costs monthly

Entering product costs as an average is covered in this help article.

In this help article we will focus on the monthly product costs option.

Why use the monthly product cost entering option?

If your product costs fluctuate month to month and you want to ensure that your settlements are only posted to your bookkeeping system once the correct costs have been entered then this option might be a good fit for you.

How does the monthly product costs feature work?

When you opt to enter your product costs monthly we will only mark a settlement as ready to send once its costs have been entered for that month.

For example, if you have entered costs for January, February and March but not April, then only settlements from January, February and March would be able to be posted to your bookkeeping platform - settlements from April would show as missing product costs.

This means that you can turn on our AutoPost feature and rest assured that settlements will only be posted to your bookkeeping platform once the costs for their month have been entered.

How to turn on the monthly product costs feature

Tick the Enter product costs monthly option on the Settings > Settlement Settings page under the Cost of Goods Sold tab:

On the Inventory > Product Costs page you will now be able to use the bulk upload option to select a specific month:

Months shown in green have had costs entered, those in red have not:

Download your product file, enter your costs for the month in question, save it as a CSV file and upload it again.

Your new costs will be assigned to settlements dated for the month you chose and will be marked as ready to send.

If you have our AutoPost feature enabled then no further action is required once you upload your costs. Your settlements will be refreshed automatically and posted over to your bookkeeping platform.

If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].

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