Shopify Cost per item is a feature that allows you to track the cost of the goods you are selling in Shopify. In this article, we will walk you through how you can sync the QuickBooks Commerce price list to Shopify Cost Per Item or import Shopify Cost Per Item to QuickBooks Commerce during install steps.
Shopify Cost per item is entirely optional, and isn't a required field when you're creating your products - so you needn't worry about filling it out if you'd rather not. However, if you do choose to make use of it, once you've filled that in with the price of your product your profit margin will be calculated for you, like so:
In this guide
- Understand how Cost per item in Shopify works
- How to enable Product Price sync from QuickBooks Commerce to Shopify Cost per item
Understand how Cost per item in Shopify works
Cost per item - refers to How much it costs you for the product or variant. For example, if you resell a product, then you can enter the price that you paid the manufacturer, excluding taxes, shipping, or other costs. If you create the product yourself, then you can enter a value that is based on your labor and material costs.
For each product that has a product cost entered, the margin (calculated as ([price - cost] / price) * 100) is shown on the product details page. For example, if your price is $50 and your cost is $30, then the margin (calculated as ([50 - 30] / 50) * 100) is 40%.
How to enable Product price sync from QuickBooks Commerce to Shopify Cost per item
1. Sync price item from QuickBooks Commerce to Shopify Cost per item for existing accounts.
If you already enter price information for your products in QuickBooks Commerce, you can now sync them directly to Shopify Cost per item.
- Log into your QuickBooks Commerce as the account owner.
- Go to My App > Shopify -> Settings -> Price List
- Map the product price from QuickBooks Commerce to Shopify Cost per item
- Click the Save Changes to enable the settings
QuickBooks Commerce will sync the product price data to Shopify Cost per item immediately.
2. Sync price item from QuickBooks Commerce to Shopify Cost per item for new account.
If you are setting up Shopify connection for QuickBooks Commerce for the first time and already have Cost Per Item data in your Shopify store, you can choose to import these prices to QuickBooks Commerce product price.
QuickBooks Commerce will do a one-time Cost per item import from Shopify to the respective price field and Initial Cost Price for each new product imported in QuickBooks Commerce. Subsequently, QuickBooks Commerce will sync the price list to Shopify based on this initial mapping.
For existing products that already have price list & Initial Cost Price setup in QuickBooks Commerce prior to the integration install, they won't have Cost per item imported from Shopify to QuickBooks Commerce