How does the table calculations work?
- Purchase price: This is your purchase price and do no calculations but could be important to find cost of goods
- Other cost: Typically this is handling, shipping and other costs you may have after purchase on a product. It is the difference between purchase price and cost of goods. If you have set cost of goods and purchase price the extension set the difference in this field.
- Shipping: If you want to separate shipping cost this field can be added in settings and will be calculated together with other cost to make the sum of cost of goods. (add this field in Cost & Reports settings – default not visible)
- Cost of goods: This is purchase price + other cost (+ shipping cost) per product. This field does no calculations but is essential for further calculations of the price.
- Markup: This is the percentage markup on your product. Cost of goods + markup = new price (sales price). If you want 20% markup on your product you need to enter 120 in the markup field. If you know what the new price will be and set it direct, the markup will adjust according to your new price.
- Price: This is the current sale price on you product and is mostly there to show you what your current price on the product is. The dropdown will show you price ex and inc. VAT. Cost & Reports is “based” on that your prices is ex. VAT, so when you select inc. VAT the price field will be editable, now you can set a price like $19.90 and it will automatically calculate the price ex. VAT for you in the new price field (this is used for saving).
- New price: This is the sum of cost of goods + markup. If this field has a yellow background it is different than the current price. If you want to use it as the current price, make sure the row is checked and save. If you change this price it will calculate back i.e set price inc. VAT (it that is visible) and calculate a correct markup.
- Stock: This field show current stock on the product and is used for calculation of value at cost, retail value and profit.
- Value at cost: Is the sum of cost of goods * stock.
- Retail value: Is the sum of current price * stock.
- Profit: Is the sum of retail value – value at cost. If negative profit the numbers are shown in red.
- Table footer fields with values: Show the totals of the current column, updates if you do updates in the table or search in rows.
Exclude price on save: If you check this you save all values in the table except the price (from new price column). This could be handy if you want to keep you current price and not use the suggested price (in the new price column).