Recording your Profits and Losses accurately is crucial to keeping your business in the black. How can you do this in QuickBooks effectively?

Keep Current COGs

It may seem rudimentary to say this about your Costs of Goods, but it's easy to add a product to QuickBooks without adding COGs and think that you'll handle it later. But it's so important to obtain that information as soon as you can. 

Accurate Product Pricing on Bundles

Each wine industry eCommerce system handles the concept of bundles or kits differently, however the rule for accurately pricing your product is a constant. Ensuring that the individual prices of your items sold within a bundle are priced correctly can be a time consuming task - at least, it was before WGits. 

When you use the WGits Bundle Mapper, your profits will be more accurate than ever. Say for example, you have 6 bottles each, priced at $50 within a holiday bundle. The collective total is valued at $300, but perhaps you're selling your bundle at $280 during the holidays. Your individual bottles would normally be priced at $46.66, but the total would only be $279.96. WGits has been programmed to be smart enough to add that extra 4 cents to just one of the 6 bottles, allowing it to still perfectly equal $280! This keeps your records accurate and prevents you from having to do a journal entry for rounding issues.

No More QB Groups

Using the above mentioned Bundle Mapper, we've eliminated the need for managing products in time-consuming Groups or Inventory Assemblies. This also simplifies your experience and tracking of products sold.

This is just one helpful example, however whether you use Bundles or not, the individual prices of your items must be correct to ensure you have accurate COGS. 

Testimonial: 

"We scheduled a set-up appointment, and we were up and running in less than an hour. We now spend 1/3 as much time importing data from our POS to Quick Books. More importantly, now the data migration “just happens”. The entire process is no longer a source of constant frustration and requires minimal time to manage. WGits has a lot of great functionality, but the stand-out feature (in my opinion) is the customer service that Wine Glass Marketing provides. I’m a fairly tech-savvy person and can figure most issues out on my own, but when I do have a problem, the ability to get a live person on the phone who knows the WGits tool “inside & out” is priceless."

~Bill Maier

Chief Financial Officer

Bowers Harbor Vineyards