Square Online Material Cost Calculator
Understanding the cost of making an item is crucial when deciding on a selling price. The Material Cost Calculator can help you keep track of what you spend so you can set a fair price that accounts for your expenses.
You can use the Material Cost Calculator with existing items or when adding a new item. Scroll down to Additional Information while editing an item and click the Track Cost link.
Note: Customers can’t see any of the information you add to the Material Cost Calculator.
Add all of the materials you use to make your item here. As an example, let’s say you’re selling bags made with two different fabrics and a zip.
The following fields need to be filled in for each material component. Remember – these are the materials you need to make just one item:
Material: Name or title of the item, like ‘Corduroy fabric’.
Quantity: The amount of this material that you use in your finished item.
Purchase Unit: The way you measure and buy the material (for example, by yard or by ounce). If the material is sold individually, like a zip, you can enter ‘Each’.
Unit Cost: The amount you pay per Purchase Unit, regardless of how much you use in your finished item. So if you pay $12.99 a yard for corduroy and need 2 yards to finish a bag, you would enter $12.99 here.
You can also add a purchase link for each material, but that’s optional.
Click Add Material to enter information for another material, or click the ‘. . .’ link to duplicate or delete one you’ve already added. You’ll see the total material cost update to reflect your changes. Once you’ve finished, click Save Item Cost to return to the edit item screen, then click Save once again when you’re finished editing your item.
If you’re using the Pricing Wizard to set a price for your item, you can enter the total material cost to get the most accurate suggestion.