For each of my inventory items I’ve added the cost and selling price. But my nett profit value does not deduct the cost of the items I’ve invoiced for?
I am not using supplier invoicing etc. if that helps.
@mark.duplessis, Does your P_L statement reflect Direct Expenses?
P_L Statement?
Income Statement
Sorry I am really not with you…I don’t use an income statement, I don’t even see anything about an income statement in Manager. All I want is for the program to deduct the cost of the goods I enter from the selling price to give me an accurate net profit.
If you are not using Supplier Invoicing how are you getting your inventory to have quantities,
If your inventory has zero quantity, then possibly it can’t transfer a cost because it can’t reduce the inventory - from zero to negative stock.
If you can see your Nett Profit then you are looking at the P_L Statement (Profit & Loss) which can also be referred to as an Income Statement
This is because for costing purposes, Manager doesn’t care what you have entered into “Sale price” or “Purchase price” fields. These fields are for auto-complete purposes only.
Cost of inventory is calculated from actual prices you have paid for inventory items. Go to Inventory Items, there is a column Total cost, click on the amount in this column which will give you ledger for that inventory item. You can show the screenshot of this ledger which will explain why cost is not added to Profit & Loss Statement.