In this guide, we will walk through how to configure the new Stock asset value reports and where you can see the total value of your stock within Genie. Having the ability to access this number from multiple different places in Genie allows you to keep a pulse on performance and value and can help with future decision-making and where best to allot your assets.

Genie makes it easy to keep an eye on your stock's value by allowing you to access it from your reports, inventory table, and dashboard. But before we can jump into that, there is one pesky task we have to take care of—adding unit costs to all of your products. This is the first step to getting the full picture of how much your inventory is worth and if neglected, you won't be looking at the correct number.

Now, before we get into these numbers and reports, you first need to make sure that your Shopify Unit costs are updated. Luckily Shopify has a guide that can help you get those unit costs set up. This is an important first step because if you don't have all of your unit costs updated Genie can't link them to products in your Inventory table, and any resulting calculations would be inaccurate.

To make the process of hunting down what products need unit costs less painful, we have added a new filter and column to the inventory table to help.

The filters you will use are "On hand, more than 0" and "Shopify unit cost, Empty." This will show you any products that are in stock and have no associated Shopify unit costs. Additionally, you can add the column labeled Shopify unit costs so that you can see any costs that you add.

The first place is through the new reports.

We have built out a new report called the Stock Asset Value Report. What this report is, is a list of all of your products that have stock and have Shopify unit costs associated with them. They are designed to help you see what your total inventory value is and help when it comes to reporting that number at the end of the month.

The first report in this list is the stock asset value report for active products. So, any active products with stock on hand will be displayed along with their related costs. While the other report shows all products regardless of whether they are active. Both reports serve to inform you of what your inventory value is looking like.

You can configure them just like the other reports. By selecting them and clicking the pencil icon you can change the status, frequency, schedule, and whether you get an email about them.

When you generate a new report it will display all active products and their unit costs. This table can then be shared with anyone on your team so long as they have access to Genie. Exporting, coming soon.

You can also view and share the total cost value from your inventory table. If you need to share your total asset value with an external team member you can export the products from your Inventory table. The process for this is very simple.

Step 1: Add the Shopify Unit Cost column to the table. This will ensure you have the essential information included in the export.

Step 2: Filter for "On hand, more than 0." This will show you all in-stock products. The reason you only want products with stock is that your inventory value only pertains to products you hold in your warehouse. You can also take it one step further and remove the active filter so that you are also seeing inactive products, but that depends on your needs.

Step 3: With the products filtered and the necessary information displayed you can select all of your products, then click "Export selected" in the top right corner. This will download a CSV containing all of your products and the information you chose to show on the table.

Make sure that before you export you check the bottom left corner to make sure you are showing as many products as possible. If your catalog exceeds the 1,000 maximum you may need to do a few exports to get everything.

From here, you are free to do what you need with that information.

Finally, the last place you can assess your total inventory value is within your dashboard. Your dashboard contains breakdowns of your inventory statuses, stockout risks, and inventory value. In that inventory value section, you can see a card displaying the Total cost value of your inventory. But what is that?

The total cost value is the cumulative cost of all items currently in your inventory. This is your on-hand multiplied by those Shopify unit costs. This is why it is important to get the unit costs updated in Shopify. All of these metrics are dependent on it. This card updates daily and shows any fluctuations you may have in your cost value in the last 7 days. Not only is this helpful for tracking performance but when referenced against the total retail value of your inventory it can help you determine what your margins are. Assisting in long-term decision-making and asset management.

And there you have it, an overview of the new reports and how to check the total value of your stock. Hopefully, this will help you appease your accounting team and provide some insight into cost breakdowns across products.

If you have any other questions feel free to reach out or visit our help center for more guides on navigating and configuring Genie.