Step 1 : Access the product profitability report
In the reports module, select the product profitability report under the finance card. Note that you may have to scroll the card to find it.
Step 2: Profitability report
Paragon’s dynamic, live costing feature calculates a per unit inventory cost each time you ship out goods. So, if you’re using FIFO or LIFO, all the costs associated with receiving and shipping your stock is accounted for in the inventory cost calculation. With this feature, you can calculate an accurate shipment and product profitability. The product profitability report makes this information easier to find:
Quantity, unit price, and line discounts are all attributes that can be found on the lines of your shipments.
Header discounts and other charges can also be found on your shipments in their respective attributes.
Unit price - line discounts - header discounts + header other charges - per unit inventory cost = absolute profit. So in the example of shipment 000218 above:
$45.00 - $0.00 - $11.57 + $7.86 - $15.00 = $26.29
Unit price - line discounts - header discounts + header other charges = price per unit on that shipment
$45.00 - $0.00 - $11.57 + $7.86 = $41.29
price per unit on that shipment - inventory value / unit price from the item - Profit %
$41.29 - $15.00 / $45.00 = 63.67%
Per unit inventory cost
is calculated based on each shipment line. The full calculations can be found in the inventory history
Absolute profit and %profit are calculated for this report.
Right-click on the headers to expand or collapse the column by hitting expand all or collapse all.
Step 3: Filtering the report
To view the filters for this report, hit the expand bar on the left-hand side of the report.
The current filters available for this report are listed on the left-hand side. You can click on them to filter by category. You can also choose the start and end date to filter by both category and time.
If at any point you want to restart your filtering process, just click the reset button on the top left-hand corner of the page. You can click the arrows on either side of that reset button to undo or redo your last filter.
Now that you can run this report to get accurate profit calculations on each and every item you ship out your doors, you can make decisions about how to adjust your pricing or where to purchase or make your goods to increase profitability. Find other Paragon reports to help you streamline your business.