Product profitability report WIGO

Product profitability report WIGO

Introduction

Paragon performs costing automatically. It takes your costing method (FIFO or LIFO) into account when calculating a unit inventory value every time items are shipped out and received. The product profitability WIGO report allows you to analyze this information dynamically.

The following article will explain how to access and filter the product profitability report WIGO report. You can also find more information about how to access and use the reporting module in Paragon.

Access the product profitability report

To get started, navigate to the reports module from the more button.



In the reports module, select the product profitability report.



Column descriptions

  1. Quantity and unit price are both attributes that can be found on the lines of your shipments.
  2. Line and header discounts and other charges can also be found on your shipments in their respective attributes in the tool panel.





Calculations

Absolute Profit:
Unit price - line discounts - header discounts + header other charges - per unit inventory cost. This figure multiplied by the quantity gives you your absolute profit. So in the example above:
$55.00 - $0.00 - $0.00 +0.00 - $26.61 = $28.39 
$28.39 x Quantity (10) = $283.90

% Profit:
Your profit percentage is your absolute profit amount divided by the calculated profit from unit price (unit price x quantity)
Unit price x quantity = $550
Absolute profit 283.90 / 550 = 0.51618 - 51.62%

Company, item, source, and shipment details

 You can add to, filter, and group the report by attributes on the shipments, company, item, or source transaction and take your analysis one step further.



  1. Item Fields: Displays attributes from the product itself such as purchase cost, sales cost, SKU, etc.
  2. Company fields: Displays attributes from the company used in the shipment, such as addresses. 

Source attributes

These source attributes display header and more tab attributes from the transaction used to create the shipment (in our example), these can be from either an invoice, order, or pack list. For more information about creating shipments, check out our guide on Creating a shipment.





Shipment attributes

This displays header and more tab attributes of the shipment.





What's next?

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.  For more information on WIGO and our other reports, you can check out the handy articles below!




    • Related Articles

    • Product profitability report

      Introduction The following wiki will explain how to access and filter the product profitability report. You can also find more information about how to access and use the reporting module in Paragon. Step 1 : Access the product profitability report ...
    • WIGO - business intelligence reporting

      Introduction When using any software as intricate as ERP, easy-to-use reporting tools are key for making information available and ready to use at any time.  Paragon has several features that allow you to extract important information from your ...
    • Commission Analysis (WIGO) report

      Introduction In Paragon, salesreps can be added in the person module. These references can be paired with the attribute Salesrep (Verified) which can be added to your transactions, allowing you to track which sales reps are responsible for each ...
    • Bought and sold WIGO report

      Introduction When it comes to monitoring your inventory and costs incurred for this inventory, there are a number of reports in WIGO to help you out. The bought and sold report gives you all of the information you need for inbound and outbound items, ...
    • Inventory reports WIGO

      Introduction Although you are able to check your inventory directly from the inventory module in Paragon, we have made it easy to navigate through your WIGO reports to break down the detailed information on your individual products and their ...