Mark Up and Margin

 

Overview

Surf Accounts has introduced Mark Up functionality to measure profitability on the purchase price of each item. You can measure markup from two areas of Surf Accounts. Firstly, from the product browse and secondly, while raising Invoice against products with the updated price.

We have enhanced three reports: Price History Report, Invoice Details Report and Product Price Report to accommodate markup of each product sale.

Product Browse Details

To view markup from the product list, click on the settings icon from the title bar, go to Product & Stock» Products. The following screen will appear. Mark up percentage appears at the right of the page for each product.

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Markup appears for those products which have purchase price and sales price defined within Surf Accounts business. Mark up percentage changes as the sales price or purchase price of any product changes. In the Product Browse the following information is displayed.

Code

The product code is displayed in this column.

Description

The product description is displayed in the description column.

Category

The product category is displayed in the category column.

Sales Price

The sales price of the product is displayed in the sales price column.

Purchase Price

The purchase price of the product is displayed in the purchase price column.

Mark up

The difference percentage of the sales price and the purchase price is displayed in the ‘Mark up’ column. For e.g. if the sales price is X and purchase price is Y then mark up will be (X-Y)/Y*100

Add a new Product. In the New Product page, mark up appears. As you add the sales price and purchase price of the product, the value in markup is automatically posted. The figure appearing in markup is rounded to the nearest integer and in percentage.

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Product Category

Select the product category by using the product look up. Select the magnifying glass to open the product category pop up. If the product is not there select the new button to create the product category on the fly. 

Product code

Enter the product code here.

Product Description

Enter the product description.

Sales Price

Enter the Sales Price of the product.

Sales nominal code

Select the sales nominal code here by using the look up button. By selecting the look up button the list of nominal code will be displayed. Select the nominal code here.

Sales VAT Rate

Select the Sales VAT Rate from the drop down.

Purchase Price

Enter the Purchase Price of the product here.

Purchase Nominal Code

Select the Purchase nominal code here by using the look up button. By selecting the look up button the list of nominal code will be displayed. Select the nominal code here.

Purchase VAT Rate

Select the Purchase VAT Rate from the drop down.

Mark up

Mark up will be automatically calculated. Mark up is the percentage value of the difference of the sales price and purchase price. For e.g. if the purchase price is X   and sales price is Y then the markup percentage is (Y-X)/X*100.

Product Image

To insert the product image select “Choose File” and select “Upload”. Please note the image should be on the local computer. The maximum size of the image is 256 px* 128 px.   The image format can be jpeg, gif or png.

Open Product to Edit Mark-Up

To open a product from the product list select the product line and select open. The product will open in a new browser. Change the details from the update product browse.
To edit markup from the product list select the product line and select open. The product will open in a new browser. Change the details from the update product browse. Edit the sales price or the purchase price; the markup will change accordingly.

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Delete Product

To delete a product from the product list simply select the product from the product browse and select delete button. The product will be deleted from the product list. Please note system will not allow deleting a product if the transactions are already posted against that product.

Settings to Display Mark-Up on the fly in Detailed Invoice, Quotes, and Orders

You can measure mark-up and view it while generating invoices for your customers. To view markup in invoice edit page, click on the Settings Button. Go to General Settings >> Financial Settings. The following popup appears. Select the check box, ‘Show Mark up in Invoice edit’.

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Add a new Detailed Invoice. To add a new Sales Invoice, simply press the Add Invoice Button and the following screen will appear.

Detailed Invoice page appears. The product details page displays markup .

To know the details of Sales Invoice page click here.

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Product: Enter the Product Code or press the magnifying glass to search for the Product; The product details appear on the product line of the invoice. Mark up remains zero initially. Add quantity of the product. Mark up will be automatically calculated and displayed on the product line.
See below:
The products Knee Capslarge, RugbyBall shows Markup percentage 38% and 34% respectively. GOLFCAP does not show Mark up percentage as quantity field is zero. In invoice edit you can edit the original sales price of the product with a new price and Mark up percentage of the sale will be calculated accordingly.

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Markup appearing within Price History

While creating new Invoice, you may wish to see the price history of the product s and the markup percentage of the products in the previous invoices. Select a product in the product line and click on the History button. Price History Popup opens up displaying mark up of the previous Sale, see below:

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Markup on Reports

Surf Accounts has improved the following three reports to include Mark-up.  These reports are Stock Levels Report.
  • Invoice Details Report
  • Price History Report
  • Product Price Report

To generate the reports select the Reports tab the following screen will appear.

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Invoice Details Report

To generate Invoice Details Report select Reports» Customers » Invoice Details Report, the following screen will appear. You can now generate the report by selecting Mark-up % and absolute Mark-up value of for each product sale.
Customisation of Invoice Details Report
To include Mark-up percentage and Mark-up value in the report output, select the Advance option. By selecting the Advance option a new pop up will be generated to include and exclude columns in the report. Select Mark-up% and Markup in the Include Column.

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Price History Report

To generate the Price History Report select Reports» Customers » Price History Report, the following screen will appear.

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Select the Advanced Button to Include or Exclude Mark Up % of each product.
Price History Report displays  Margin and Mark Up % of each product Sale against respective Customers.

Product Price Report

To generate the Product Price Report select Reports» Customers » Product Price Report the following screen will appear.

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Product Price Report shows absolute markup and Mark-up percentage of each product defined in the business.

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