Hello everybody
How can I know the profit on one invoice only or
group invoices.
Thanks.
Samir saab.
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Search the forum, you can’t.
I don’t think you can know the profit on only one invoice but you can only check your profit margin in report tab to know your daily business profit
You can use custom reports to get the cost and sales price of your sold products and then group them by invoice number. Then you can take that report to Excel and subtract the cost from sales to get the profit.
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That’s not the profit - that’s the Gross Margin
Profit calculations take selling, administrative and other fixed costs into account
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Gross profit = Gross margin. Net profit is as @Joe91 explains, see for further clarificationhttps://www.accountingcoach.com/blog/gross-profit-margin
We have witnessed hundreds of small business investment proposals where sometimes proposers present Revenue as profit and Gross margin as profit. Some that got invested in after three years were still not able to get to a net-profit status and these were bankrupt shortly thereafter. So it is best advised to always start with net profit targets and monitor the P&L closely. One other issue is cash-flow which can cause havoc also but that is outside the scope of this topic.
It is clear that one should not look at invoices, receipts, etc for profit but ideally run a proper Profit and Loss report and take note of the net profit. You can also in the Chart of Account create a Gross margin/Gross profit total using “New total” and place these below the revenue and cost of goods.
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Through projects… By linking the invoice to a specific project, your cost, income, and profit will be determined
You can do it by excel you can creat report using power query