17 Nov Gross Profit by Item
Sales by Item Summary
The Sales by Item Summary provides the sales price, cost, and gross margin information by inventory item. From this report, it is readily apparent how the sales are distributed amongst the items, as well as which items have the highest gross margins. It is also easy to see if something looks odd. This type of information is only available on this report for inventory items because of the matching that occurs when the invoice is created. For service or non-inventory parts, for example, the information is not available because the cost is expensed as the item it purchased and the income is recorded as the item is sold. To obtain the same information for the other item types will require use of the inventory valuation detail report and manual calculations.
QBRA-2003: Reports > Sales > Sales by Item Summary (remove average cost of goods sold column)
With the Premier: Accountant Edition or Premier: Manufacturing & Wholesaling Edition there is an industry specific report called “Profitability by Product” which will provide a gross margin for any type of item.