If you're using Link My Books' Product Groups feature and need to track your Cost of Goods Sold (COGS) to different accounts for each group, this guide will show you how. This allows for more granular financial reporting in your accounting software.
How to Assign Different COGS Accounts
Follow these steps to set specific COGS accounts for your product groups:
Go to Product Groups:
Navigate to Inventory > Product Groups, and then click on the 'Product Groups' tab.
Select a Product Group:
For the specific product group you wish to assign a unique COGS account to, click the 'Action' dropdown menu next to its name.
Choose 'Set COGS Account':
From the options that appear, select 'Set COGS Account'.
Select Your Chosen Accounts:
A dialog box will appear, allowing you to select your preferred COGS accounts for that specific product group.
For Amazon Accounts: You will see three different Fulfilment types:
FBA (Fulfilled by Amazon): For products stored and shipped by Amazon.
FBM (Fulfilled by Merchant): For products you store and ship yourself.
MCF (Multi-Channel Fulfilment): For products Amazon ships on your behalf, but from sales made on other channels (not Amazon).
For Other Sales Channels: You will typically see just one Fulfilment type, as other channels usually don't have Amazon's complex fulfilment distinctions.
Choose the appropriate COGS account(s) for the fulfilment type(s) displayed for your chosen product group.
Save Your Changes: Click 'Save' to apply the new COGS account settings to that product group.
Important Note on Account Overrides
The COGS accounts you set for individual product groups using these steps will override the general COGS accounts that you have set on your main Settlement Settings page. This allows product group-specific tracking to take precedence for more detailed accounting.
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