In this article:
About
Go to Reports > Sales > Profit Report to find out what your profit is based on your product sales against your product costs.
The Profit Report also includes the profit from your product variants.
See also: Cost of Goods Report
How to set up your products for a profit report
Set a product's cost and price
Go to the Product Details of your product
Fill in the Cost (what you pay to suppliers) and the Price (what your customers pay)
Save
Bulk import product costs (advanced Excel users only)
Go to your Products list (Products > Products)
Go to Export > Export (CSV)
In the spreadsheet that downloads, enter all the costs in the Product Cost field.
Save as a CSV file.
Go to POS Settings > Bulk Import. Under "Import", select Product.
Click Select CSV/XLSX File, find your product CSV file then Import it
All your procut costs will update instantly.
Set product variants
Product variants will only have costs if they are attached to their own products which have costs.
Go to Products > Product Variants and click the pencil button next to the Product Variant Group that you want to edit
In the Variant Value table, ensure that you have a Product assigned for every Product Variant Value
Save.
How to interpret your Profit Report
Your Profit Report will show you a breakdown of all the products you had sold in the selected timeframe.
At the end of each row you will see the product's COGS % (Cost of Goods Sold). This is the percentage of the cost over the price (e.g. If you have a $10 salad that costs $1 to make, the COGS will be 10%).
Below the table, you will also see:
Total Quantity: This is the total number of products sold. If you have toggled on the setting List variants as separate product, it will also count the product variants of the sold products.
Total Net Sales = sales - tax
Total Net Profit = sales - tax - costs
When should I list variants as separate products?
If you...
Have product variants with their own independent prices and costs added on to the product | If you...
Have product variants, but those product variants do not have an additional price or cost |
Then...
You should toggle on List variants as separate products | Then...
You should not toggle on List variants as separate products |
Why?
Your profit and COGs will be determined by the individual product variant costs | Why?
Your profit and COGs will be determined by the products |
For example
You have a pizza product, where each topping is a product variant and it is also a product with a cost and price.
Your profit will depend on the cost of your individual toppings, not just the pizza. | For example
You have a $10 combo product which has a drink product variant and a burger product variant.
Your profit will depend on the cost of the $10 combo, regardless the drinks and burgers ordered in that combo. |
If you list variants as separate products without having the appropriate setup, your profit will display as a negative amount and your COGs will appear as 0%.