Accounting of online store price involves recording all the financial transactions that occur in your ecommerce business. This information is used to create financial reports, models and forecasts that help you understand the current state of your finances and make smarter business decisions for the future. The key to accurate ecommerce accounting is systemization, so you can quickly access the information you need when needed.
When you sell a product, your revenue is recorded in two accounts: cost of goods sold and net sales. The former includes the selling price of your product minus the costs associated with that sale, such as raw materials and labor. The latter includes overhead costs such as rent, utilities, marketing expenses and website maintenance fees. You can calculate the COGS for a single product or for a group of products using WooCommerce’s COGS calculator.
Ecommerce accounting also requires a clear distinction between direct and indirect costs. Direct costs are those that are directly related to the production of a good or service, such as the manufacturing costs of a candlemaker’s 8-oz. jarred creations. Indirect costs are broader in scope and include overhead costs such as website maintenance, marketing expenses and payroll. Ecommerce accounting is also complicated by variables such as shipping, taxes and returns.
In an era where many consumers use smartphones to check online prices while in a physical store, retail executives have been wary of setting different prices online and in stores, fearing that customers may be put off by this practice (e.g., if they find a lower price for a product online). However, this strategy has been successful in other sectors, such as airlines (prices differ if you book a flight online versus over the phone) and gas stations (self-serve vs full serve). Счетоводство на онлайн магазин цена