Ecommerce COGS vs. Expenses Explained: Key Differences

In this video, Stephen from LedgerGurus breaks down the essential differences between e-commerce COGS vs expenses, focusing on the crucial distinctions between Cost of Goods Sold (COGS) and overhead costs on your ecommerce Profit and Loss Statement. Discover how COGS relates to the production and warehousing of your products, and why it's distinct from other expenses like packaging, shipping, advertising, and merchant service fees. Stephen also delves into overhead expenses, which encompass vital aspects like payroll, rent, software, and any non-sales-related costs. Learn how these expenses fit into your income statement and how understanding their order can help you optimize your e-commerce business for greater profitability. ◾◾◾◾◾◾◾ 🔥 If you're ready to get help with your ecommerce accounting, let LedgerGurus help. eCommerce accounting is our specialty. ledgergurus.com/ecommerce-accounting-services/?utm… ◾◾◾◾◾◾ ⬇️ MORE STUFF YOU SHOULD CHECK OUT ⬇️ ** FINANCIAL STATEMENTS EXPLAINED PLAYLIST: **    • Financial Statements Explained   ** Quick Guide to Gross v Net Revenue | for eCommerce Sellers **    • Quick Guide to Gross v Net Revenue | ...   ** COGS Explained for eCommerce Sellers **    • COGS Explained for eCommerce Sellers   ** The Difference between Cost of Sales & Cost of Goods Sold (COGS) in eCommerce **    • The Difference between Cost of Sales ...   ** Inventory Landed Costs Explained | What's Included and How to Calculate It **    • Inventory Landed Costs Explained | Wh...   ** If you're interested in our ecommerce accounting services, click here to contact us: ** ledgergurus.com/ecommerce-accounting-services/?utm… ◾◾◾◾◾◾◾ 🧑‍💻 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: ledgergurus.breezy.hr/?utm_source=youtube&utm_medi… ◾◾◾◾◾◾ 👋 SAY HI ON SOCIAL: Website: www.ledgergurus.com/?utm_source=youtube&utm_medium=referral&utm_campaign=cogs-v-expenses Facebook: www.facebook.com/LedgerGurus Twitter: twitter.com/LedgerGurus LinkedIn: www.linkedin.com/company/ledgergurus/ Instagram: www.instagram.com/ledgergurus/    • Ecommerce COGS vs. Expenses Explained...   #ecommerceaccounting #ledgergurus #cogs

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