Every year I do my annual budget using the Manager Profit and Loss Budget Report.
As my clients work on annual contracts, its easy for me to calculate the expected income for Backup, IT Support, Broadband Service etc. However, one area that has taken me about 2 days to complete is calculating income and expenses for future inventory sales and inventory costs.
Every year in January, I contact my clients to discuss their IT Budget for the next financial year beginning April. So I meetup with them, provide quotes and receive acceptance of the quotes and book those sales for the new financial year.
What I am having to do is open up each quote add all the items being sold to an excel spreadsheet for that client recording the income. I then have to go through the inventory for each item to see what my cost is and record that for each client and then excel calculates the net profit. I have to do that for each quote (as clients will have several quotes covering different things) and repeat this for process for every client.
Basically I would like to use Custom Reports to select quotes 1-5 for client A and the report will show the cost (purchase price), income (sale price) and net profit for each inventory item listed in those selected quotes. This will in minutes enable me to calculate the total cost, income and net profit for anticipated future inventory sales and purchases allowing me to put these figures into the profit and loss budget quite quickly.
If this report could be implemented this would be a major timesaver as this particular job has taken me about 2 days to complete and I need to do this annually!