Cost and profit reporting
Why do my profits in the reports seem much higher than they should be?When you create an invoice, Street Invoice records the cost for each individual invoice line based on the current cost of the item in the item list. So if, for example, when you created the invoice, the item cost was 0, since you hadn't set the cost for that item, the cost will be recorded as 0 in the invoice.
This will skew your profit numbers, since profit is based on the sale price, while deducting the cost of the item in the invoice itself.
How do I fix this?Changing the cost for an item in the item list will not change it in past invoices. (Since cost can change, Street Invoices records the cost as it was at the time of the sale.)
You can correct your cost and profit numbers by checking each individual item in your past invoices, and entering the correct cost.
Requires Enterprise subscription