Integrating Nineyard with ConnectBooks ensures seamless and accurate tracking of your costs of goods sold (COGS). Here’s a detailed guide on how this integration works and how to maximize its benefits.
What data Does ConnectBooks Pull from Nineyard?
Since ConnectBooks connects directly with your marketplace, it pulls all transaction data from the marketplace. The only missing piece is the cost of goods, which Nineyard provides. Nineyard calculates an average cost per item per day, accounting for constant price fluctuations. This is the cost that ConnectBooks retrieves.
How to View the Cost of Your Items.
Once connected to Nineyard, item costs will appear in the P&L reports in the cost column, if you want to see it per order, read below.
Resolving Orders with Missing Costs.
When ConnectBooks connects to Nineyard, it requests a cost for every item. Sometimes, Nineyard might not have the cost for an item due to various reasons, such as a bill not being entered, which will show the cost as missing.
As an accounting software, ConnectBooks reconciles every transaction to determine its cost. If a cost is missing for a transaction, ConnectBooks will display the SKU to highlight this issue before exporting to QuickBooks.
To resolve missing costs:
Navigate to the Accounting Export page and select a store.
In the Settlement Export Status column, where it says “item missing cost,” click Resolve.
Here, you'll see all items missing a cost, and input the cost of the item.
Viewing the Cost Per Item.
In the profit and loss reports, you can view the cost per item. Since the price of items can fluctuate a lot, you can view the cost per item per day:
Navigate to the Products page and select a store.
Go to the Product Cost tab.
Here you will see all items and the cost per day
By following these steps, you can ensure accurate and seamless tracking of your costs of goods with ConnectBooks and Nineyard.