Item Profitablilty By Invoice Sales Report

“Quicklet” - A Podcast for QuickBooks Pro, Premier, Enterprise Solutions, Point of Sale and Peachtree users featuring helpful information, tips, tricks and suggestions for bookkeepers, business owners, and consultants.

Got a QuickBooks Mess? Call The QuickBooks Gal!

Hi, I'm Jayne Miller, The QuickBooks Gal. Welcome to another in my series of “Quicklets” – informational podcasts about QuickBooks, Peachtree and related bookkeeping topics.

Item Profitability By Invoice

We recently had a request from a client to produce a report from his QuickBooks file that would show him the profitability of a particular item over the course of time on a per invoice basis.
Since his cost and his sales price have varied over time this would be a very useful report : What margin were we making in the first quarter vs. the second? Do we need to raise our price to maintain our margin?

The problem, as he quickly discovered is that QuickBooks has no such report - nor way to modify a report to get invoice level detail. The "Item Profitability Report" is a great tool to see the big picture, but not detail.

Unless, you double click on the "Actual cost" to bring up a bill-level detail of costs, export that report to Excel and then go back to your "Item Profitability" and double click the actual revenue figure to bring up an invoice level report of revenue and export that to Excel.

Now, with a little bit of copying and pasting from each report, you can easily create a new spreadsheet that contains both bill and invoice detail (be sure to line up the correct bill with the correct invoice).

And finally create two new columns: one for the dollar profit (subtract the actual cost from the actual revenue) and a second column for the percentage of profit (divide your dollar profit by actual cost).

This produces a nice, concise report that lets a business owner, purchasing manager, or sales manager see at a glance item profitability on a per invoice basis.

Well, that’s it for now. Please tune in again for another in our Quicklet© series.
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