I am trying to get the summation of,
sales - cost of goods - salary - other expenses = ??
Any help appreciated. thanks
If I were you, I would create account transaction types for Inventory Purchases, debit a simple range of Expense accounts.
Then do a report
(Payment Transaction Debit + Customer Payments Debit) - Expense Account Debit
Thanks @Posflow for your response.
Yes, I can create account transaction type for “purchase”, like I did for “salary” and “other expenses”. But a couple of issues,
- 'cost of goods" is auto generated from purchases as entered in the “warehouse” screen
- How is “cost of goods” generated, if I abandon ‘warehouse’ and create/use ‘purchase account’ only for my purchases. Because, i like the autogenerated inventory in the “warehouse” screen.
I know I am combining ‘account transaction details’ and ‘cost details’ in one report. I guess that’s the reason I am facing difficulty in getting the summation of two different details. Is there way that a summation could be done as my report stands (as is). Thanks for the help and your time.
I see what you mean, for summary a guess a general sum of revenue vs expense should be OK using account transactions.
If you want specific metrics for cost of goods. This would be a good place to start looking
Custom Report Tag engine should allow you to sum and group it as a separate line in your report.
Something to keep in mind is that you would need a very detailed recipes for Cost of Goods to be very accurate, otherwise should always be considered “Estimated Average”.
For calculating net profit you need to go on your invoices paid during the reporting period. I think what you are asking for is not net profit but a gross net margin on each recipe.
You don’t pay the same for inventory items all the time. Inflation etc can affect this so cost in our inventory system is an average.
True net profit must be calculated from your paid invoices and your income minus expenses for the reporting period. This will also get you a food cost for that reporting period. But the inventory system is a bit different it is built to provide an estimated average of costs of each recipe.
Thanks @Posflow and Jesse. I know I am taking up your valuable time. Your effort and help is really appreciated.
I have setup the GM in $ value and % terms. I am fine with that. Thanks both. Additionally, all reports are running okay including inventory, expenses, COGs, sales, etc. and analysis of all these transactions. Recipe is running fine for food and drinks with their mix/additives.
My issues is again (apology for bothering you on this) on ‘Accounts’. I don’t seem to get it right in the summation of different transaction details.
I have put all my expenses in the “Accounts > Transaction Types” separately and all my expenses are set as “Payment Accounts” in ‘Source Account Type (Debit)’. “Sales Transaction” is on “Sales Account” in ‘Source Account Type (Debit)’. This is basically as it came with SambaPOS. I have not done any changes to it. I don’t know why sales is getting deducted
See the snapshot image below for summary of sales and expenses. I know in the real world of accounting, these items should not be summed up together. But, the summary will help me to see in one shot the performance of the business and do the required business tweaking on a weekly basis.
My problem is in the expression of the summation “>TOTAL EXPENDITURE||{ACCOUNT TOTAL:Payment Accounts}”. This expression seems to deduct “expenses from sales”. But how do I get the summation of expenses only.
I know it’s a lengthy post. Thanks for your time though.
This is strange. I have been notified by the system, I can only tag one user at a time. Anyway, thanks @Jesse. The above message is for you as well. Thanks again.
