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Understanding the difference between cost of goods sold (COGS) and cost of sales on your profit and loss (income) statement can be tricky. Explore the intricacies of e-commerce cost of sales with Stephen from LedgerGurus. Cost of sales includes not only your COGS, but also other expenditures such as: 👉 Packaging 👉 Shipping 👉 Marketing 👉 Payment processor fees Calculating Cost of Sales accurately enables you to optimize pricing strategies and enhance profitability. ◾◾◾◾◾◾◾ 🔥 eCommerce accounting can be quite challenging. If you're ready to outsource it to an expert, let us know. eCommerce accounting services are our specialty! https://ledgergurus.com/ecommerce-acc... ◾◾◾◾◾◾ ⬇️ MORE STUFF YOU SHOULD CHECK OUT ⬇️ ** FINANCIAL STATEMENTS EXPLAINED PLAYLIST: ** We have a whole playlist dedicated to helping you understand your financials statements - what they contain and how to use them to get valuable insights into your business. • Financial Statements Explained ** An Intro to Financial Statements | For eCommerce Businesses ** • Financial Statements Explained ** How to Read and Analyze Your eCommerce Income Statement ** • How to Read and Analyze Your eCommerce Inc... ** Quick Guide to Gross v Net Revenue | for eCommerce Sellers ** • Quick Guide to Gross v Net Revenue | for e... ** COGS Explained for eCommerce Sellers ** • COGS Explained for eCommerce Sellers ** How to Read and Analyze Your eCommerce Balance Sheet ** • How to Read and Analyze Your Ecommerce Bal... ** How to Understand Your eCommerce Cash Flow Statement ** • How to Understand Your eCommerce Cash Flow... ◾◾◾◾◾◾◾ 🧑💻 EMPLOYMENT OPPORTUNITIES: We are always looking for awesome CPAs, accountants, and bookkeepers to join our team. If you're interested in working for LedgerGurus, check out our careers page: https://ledgergurus.breezy.hr/?utm_so... ◾◾◾◾◾◾ 👋 SAY HI ON SOCIAL: Website: https://ledgergurus.com/?utm_source=y... Facebook: / ledgergurus Twitter: / ledgergurus LinkedIn: / ledgergurus Instagram: / ledgergurus • The Difference between Cost of Sales & Cos... #ledgergurus #ecommerceaccounting #costofgoodssold