How to Track Retailer Specific Sales, COGS, and Payouts
Pocket helps emerging eCommerce and omni-channel brands manage finance easily - by providing a one-stop solution for founders to auto-generate accrual based financial books and key analytics, and collaborate with advisors and CFOs on key decision making. Over 100 users at modern consumer brands use Pocket to manage their books, file taxes, and prepare financials for financing and fund raising.
❓Why you need to create retailer specific chart of account?
Today's brands, even at small scale, sell across multiple online and offline channels. It is important you track your sales, cost of goods sold, and other direct cost, such as selling cost by channel. In this way founders and owners would have clarity on your channel contribution margin, i.e. profitability, before looking at the back office cost, which is typically to be allocated across channels.