Ability for profit calculation and reports on sales!
1. Each Product will have a cost entry.
2. Each Order will have a shipping cost entry.
3. Total Profit on Order will be displayed in order details.
4. When the cost of the product changes the previous sales will not change. They will stay the same according to how much the cost was when it was sold.
5. Reporting for the Profits
Pay attention to "Simple Profit" add-on, made by Alt-team.
It gives you the ability to see profit calculation for every product or order in reports.
This would generate a lot of data entry to make usable for tax purposes but I do agree that at least having the ability to log the true cost of the order completely as one number when the order is processed would be nice. We do this already when we process an order but it goes in admin notes and isn't used until we export sales for the book keeping.
In summary I think a revision of this request might get implemented if it were simple.
Add a nominal cost of product field to be imported with the product and make it visible in admin so when someone asks if they can get a discount so you a least can see what the product cost is and add a field for order processing that allows you to add the true cost of the order (not individual items) so the system can track profits.
An easier version might get implemented.
Any progress on this feature?
The Tool commented
Idea submitted: Mar 16, 2010
Planned: Oct 16, 2013
Adminimac (Admin, CS-Cart) commented
Description from merged idea: https://cscart.uservoice.com/admin/forums/134344-cs-cart/suggestions/3429646-cost-price
In my country when filling out the tax report, we have to report the value of all the products we have in stock by the end of each year. This would be a lot easyer if CS Cart had a field for Cost Price. I recently came to CS Cart from Interspire shopping cart, and they always had a field for Cost Price.
You could then export all the products to a cvs-file and you would have Cost Price and Number of products in stock and you could calculate the value of your entire stock in minutes instead of counting everything up manually.
Cost Price is also great for calculating the profit you make for each individual product.
Guessing i have to count my entire warehouse be hand this year, but hopefully some of you vote for this so it is integrated in CS Cart by tax return next year.
This needs to be released already.
When is this being released?
Yeah this needs to happen already. Ridiculous this feature is not included. What kind of store can run without being able input the cost of the item vs what it sold for? That's a basic necessity needed to be successful after all.
Ivan Yeoh commented
Hi Jim, can you share which 3rd party addon that you tried, and what is not working properly? Thanks.
We tried one 3rd add on that was supposed to something similar to this but sadly it did not work properly. LOVE the idea and can see where this would be beneficial for a quick look at each individual order.
A simple solution is not the answer! To correctly calculate profit the unit landed cost needs to be calculated and updated for each product order from the supplier. On a supplier invoice there could be transport costs, import costs, global discounts which all need to be calculated. Products might be sourced from different suppliers and prices change. How will it calculate products already in stock at one price when a new order arrives at a different price!! I think this should handled by a proper inventory program such as Inflow and a data sharing addon would be a better solution.
A buy price is also usefull it should be hard to do and at least I can see how much I can discount items without opening up programs
And it would be great to generate a Yearly sales report of all sold items. For the tax I need to be able to generate this list with the cost price of all products. I am running a store now that can do this. Before I make the decision to transfer to CS-cart I would like to see this option build in.
Nikolai Tsekov commented
Part of that was available in earlier versions but then it also needs rights management - no need my employees to see my profits...
always seeking for such option
totally agree ;-)
ATTENTION moderators, this is the same suggestion as, http://cscart.uservoice.com/forums/40782-professional/suggestions/561057-ability-for-profit-calculation-and-reports-on-sale?ref=title
please merge the topic and add the votes together.
This will help a lot to me.
ATTENTION moderators, this is the same as suggestion> http://cscart.uservoice.com/forums/40782-professional/suggestions/1561173-admin-product-price
Please merge the suggestions and votes so this could be sooner an upgrade.
This is a great aide, will help me too.
this will help me too
Even just item #1 (a product cost field) would be a huge improvement. Right now, the QuickBooks export assumes COGS=0 on every product fr lack of any cost field, which will mess up your accounting for sure. Time to work with real data.