Hmmm...I wish I could turn 86% profit on this, but I have 3 kits assembled for a customer. I sell them and do a report for Todays Sales and I see the kits are not included in the cost of good sold at all....but they ARE included in my sales. Thus my margin shot through the roof for the day erroneously.
Kits not being calculated/included in cost/sales analysis
Nov 22, 2005
3 Replies
Hi Jesse, There could be a couple of reasons: Are you on a cash or accrual bases? Are the items in your Kit inventory, non-inventory, or service items.?
How it happened:
Sale was run through for 3 kits (2 were the same). All somehow wound up cost=$0. Voided transaction...void occurred with cost != 0. Costs were both automatically calculated...both "$0" and the one at return. So...I on the day I have a report showing $0 profit and a pretty good "loss" on the day for that department due to a non-existant loss against my inventory value.
If any> Hi Jesse,
"In most cases kits will not show in COGS unless the item is in stock, or the service was paid for that day or in-advance. Run some of your reports on a different bases. See what you get."
So you mean that if I put something on account (ie. Net30) it is normal for it to show a cost of "zero" in my sales report?
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