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Inventory Lab Review 2020 - How To Use Inventory Lab For Amazon FBA 

Path to Billions
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Inventory Lab is an essential tool for every Amazon FBA seller, combining inventory management with accounting and analytics.
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When you are running your own Amazon FBA business you will need a way to manage inventory, keep track of expenses, run reports on your profits and losses, and to supply your tax accountant with reports of your business. There's no better software for Amazon sellers than Inventory Lab with it's wide range of analytics and information it provides on your business.
The inventory sections gives you detailed information on every products you have in stock. From where and when you bought it to how many you have on hand. It also keeps track of the entire history of individual products. So, if you've been buying the same product for a year you can see what you were paying for it a year ago.
There's also the FBA Sales section which gives you an in-depth breakdown of your sales history. You can see how much an item sold for, how much you paid, your net profit, and ROI. This page also gives you information like your average order price and your average profit per sale.
The profit and loss statement can give you a big picture view of your business. Breaking down your gross sales, your cost of goods sold, your Amazon fees, and a lot more information. You can change the date range for this report so you can see a monthly break down, a quarterly break down, or the entire year.
There's a lot more hidden within Inventory Lab and it is all covered in this video. If you are looking for a specific feature check the timestamps below.
0:00 Introduction
0:48 Dashboard
2:16 Scout
5:40 List and Prep
6:37 Inventory
8:14 Product Page
10:27 FBA Sales
12:28 Refunds
13:09 Reimbursements
13:58 Other Income
14:48 Inbound Shipping
15:01 Mileage
15:44 Other Expenses
16:23 Supplier Profitability
18:06 Category Profitability
18:40 SKU Profitability
19:27 ASIN Profitability
19:46 Inventory Valuation
20:24 Removal and Disposal
20:54 Profit and Loss
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The software, subscriptions, and services I use:
BQOOL: bit.ly/2FAm3IE
Payability: bit.ly/32AzcfS
Tactical Arbitrage: bit.ly/TactArb (Use code PathToBillions for a free 10-day trial)
Inventory Lab: bit.ly/InvenLab
Thanks for making it to the end. Don't click this: bit.ly/2FkWnkH
*Some links are affiliate links and I will earn a small commission if a product or service is purchased through the links.

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30 июл 2024

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Комментарии : 52   
@pathtobillions8070
@pathtobillions8070 4 года назад
Don't forget to check the description for timestamps if you are looking to learn more about a specific part of Inventory Lab.
@jevonhowell2112
@jevonhowell2112 3 года назад
I have to admit that was one of the best tutorials i've ever seen broken down very well. You earned a like and a subscribe.
@pathtobillions8070
@pathtobillions8070 3 года назад
Thank you! Glad it was helpful!
@heatherearl2847
@heatherearl2847 Год назад
This was extremely helpful. Thank you so much for taking the time to make this video ✌️
@pathtobillions8070
@pathtobillions8070 Год назад
Glad it helped!
@RPIBiomechProj1
@RPIBiomechProj1 3 года назад
HUGE HELP! THANKS!!!
@pathtobillions8070
@pathtobillions8070 3 года назад
You're welcome!
@camdencelley6953
@camdencelley6953 3 года назад
Very helpful, thanks a ton!
@pathtobillions8070
@pathtobillions8070 3 года назад
You're welcome, glad it helped!
@alexisunderwood2873
@alexisunderwood2873 4 года назад
Wow! Nice piece
@pathtobillions8070
@pathtobillions8070 4 года назад
Thanks for watching!
@camerondavis786
@camerondavis786 2 года назад
I'm not sure why the total profit & Profit graph is like that, but I do like it. Because from your example it tells me that your sales were better at the end of the month, compared to the beginning of the month.
@pathtobillions8070
@pathtobillions8070 2 года назад
Thanks for the comment! It can give you a good snapshot so you know how your sales are doing.
@guerdalouisxvilouis-gene1318
@guerdalouisxvilouis-gene1318 4 года назад
You are inspiring the world like a little superhero I will make sure you reach atleast 500 subscribers!!!
@pathtobillions8070
@pathtobillions8070 4 года назад
Thank you for the support!
@tashashaback
@tashashaback 4 года назад
so helpful dear and unique content
@pathtobillions8070
@pathtobillions8070 4 года назад
Thank you for watching!
@Frile.R
@Frile.R 2 года назад
Hello Tom! Very helpful content. Curious on how cost of goods sold is being calculated, watching your video it seems IL uses FIFO however COGS on our report seems to be constantly changing even for past month. I assumed it uses moving average in computing the COGS. Is the setting on IL editable? Thanks!
@pathtobillions8070
@pathtobillions8070 2 года назад
Hey, I know it uses FIFO to determine profit margins when looking under "FBA Sales". I'm not sure how to adjust to calculate differently.
@ichiulucero4396
@ichiulucero4396 4 года назад
Thank you very muhc. So you are able to use the info in the inventory lab for tax no problem right? I just started and have quickbook. I wonder if I can just use inventory lab.
@pathtobillions8070
@pathtobillions8070 4 года назад
Yeah, I just print out any reports my accountant needs to handle my taxes.
@kmurphy1022
@kmurphy1022 Год назад
Great video! Is there a way to enter the buy cost for items that you have sold before purchasing the inventory lab software?
@pathtobillions8070
@pathtobillions8070 Год назад
I don't believe there is an easy to track cost of goods in Seller Central.
@i-chiulucero9647
@i-chiulucero9647 3 года назад
I have trouble tracking expiration date. Someone said can do it in IL,. Could you show us how to do it here?
@pathtobillions8070
@pathtobillions8070 3 года назад
I don't use Inventory Lab to track expiration dates, but if you can track it it'd be under inventory and under the specific items MSKU. Just not sure if it has this feature.
@mkt92z
@mkt92z 3 года назад
Just subbed. I appreciate the content. I noticed that you didn't have Inventory Labs listed in your expenses. The only recurring software expenses I noticed was Bqool and Tactical Arbitrage. Are these the only software tools that you use?
@pathtobillions8070
@pathtobillions8070 3 года назад
Damn that's a good catch! I had assumed IL would automatically put itself in the expenses. Didn't realize I hadn't been keeping track of it all this time. I have a video about the softwares I use for Amazon. Another paid one is Keepa. Thanks for the sub!
@mkt92z
@mkt92z 3 года назад
@@pathtobillions8070 Thanks for the reply. I am sure I will run into that video eventually because I am going through all your archives lol. Great info. I so appreciate you. Got notifications turned on, so I'll be on the look out.
@pathtobillions8070
@pathtobillions8070 3 года назад
Not a problem, always good to hear that my videos are helping out! Appreciate the support.
@iammichaelhughes
@iammichaelhughes 3 года назад
Do you only sell on Amazon? Trying to figure out how to incorporate IL with sales I make on eBay or FB Marketplace or if it is even possible.
@pathtobillions8070
@pathtobillions8070 3 года назад
I believe you would have to do that manually. There is sections for "other expenses" and "other income" that you can add all that information in. I only sell returns on eBay so I don't track it as thoroughly as Amazon sales.
@ceobabyzllc1315
@ceobabyzllc1315 3 года назад
you did not show what it looks like before you open the extension
@pathtobillions8070
@pathtobillions8070 3 года назад
Hey, sorry I didn't include that part in my video!
@ichiulucero4396
@ichiulucero4396 4 года назад
Thank you very muhc. Why my listing doesn't show the picture of the item?
@pathtobillions8070
@pathtobillions8070 4 года назад
You're welcome. If the Amazon listing doesn't show a picture you would want to update it before you sell on it.
@ichiulucero4396
@ichiulucero4396 4 года назад
Path to Billions I meant that your inventory lab listing has pictures on it but my listing doesn’t show pictures even amazon has pictures. Is there a picture setting in inventory lab
@hasangumus7711
@hasangumus7711 2 года назад
Hi, great content. When you buy a product from walmart, target etc they providing receipt not invoice. İs that risky to sell these products on amazon? If amazon wants invoice from us what are we to show?
@pathtobillions8070
@pathtobillions8070 2 года назад
Yes, there is a risk to selling through retail arbitrage. If Amazon wants an invoice due to an IP claim you won't have anything to send them.
@hasangumus7711
@hasangumus7711 2 года назад
@@pathtobillions8070 some retailers provide invoice. So we can use these invoice.
@pathtobillions8070
@pathtobillions8070 2 года назад
@@hasangumus7711 Usually Amazon is looking for invoices from authorized wholesalers, so even an invoice from a retailer probably wouldn't work.
@hasangumus7711
@hasangumus7711 2 года назад
Thanks for responding great infos.
@meinbitcoinkanal7427
@meinbitcoinkanal7427 4 года назад
👍🏼👌🏽
@pathtobillions8070
@pathtobillions8070 4 года назад
Thanks for watching!
@dorianbranch4462
@dorianbranch4462 2 года назад
Can yo use Inventory Lab if you don't buy or list your own products?
@pathtobillions8070
@pathtobillions8070 2 года назад
I'm not sure what you mean, what are you selling?
@dorianbranch4462
@dorianbranch4462 2 года назад
I have an Amazon account through Wealth Acceleraters
@dorianbranch4462
@dorianbranch4462 2 года назад
They get, list, ship the products, all I do is make sure the funding is there for the purchase products my store.
@pathtobillions8070
@pathtobillions8070 2 года назад
They should provide you with tax documents and you wouldn't have to track anything yourself.
@joeb8725
@joeb8725 4 года назад
I have it but don’t use it. Still have yet to find value in it
@pathtobillions8070
@pathtobillions8070 4 года назад
It definitely makes accounting a lot easier than if you did it manually and everything can be easily printed out for tax time.
@user-sz4en2nc6o
@user-sz4en2nc6o 3 года назад
lmfao i know the guy who invented iventory lab
@pathtobillions8070
@pathtobillions8070 3 года назад
That's cool!
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