In Finmark, we automatically calculate your Cost of Goods Sold (COGS) based on your payroll and non-payroll expenses mapped to departments mapped to COGS sold.
When getting started with Finmark the departments that are automatically mapped to COGS are defined as the Operations and Technical Support Departments.
If you would like to customize the COGS Departments, go to the Settings Section and Click the Pencil Icon to the right of the title Departments. This will allow you to customize the departments you define as COGS.
The Formula for COGS is the following:
Non-Payroll Related Expenses (Mapped to COGS) + Payroll Related Expenses (Mapped to COGS)
Example of Cost of Goods Sold (COGS) in Employees:
Example of Cost of Goods Sold (COGS) in Expenses:
To see the your total COGS, you can head over to the Expenses Chart in Departments or the P&L Summary:
Expense Chart (Including Payroll)
Profit & Loss Summary:
