The Profit Report will be retired after March 1st, 2021. You should use Product Profitability instead.
The Profit Report shows a comparison of your sales alongside the wholesale cost, organized by day and by each individual SKU. This report can help you:
- Identify products that make the most profit.
- Identify products that may be underperforming.
- Make decisions on what products to stock in the future.
- Determine how best to price products.
Why does the report show sales by SKU?
The Profit Report analyzes sales and costs for each SKU (and not by Product). This is because you'll have multiple SKUs associated with a single Product, and the wholesale cost may not be the same for every SKU.
For instance, let's say you have a Blue Dream bulk flower that cost you $6.00 per gram for last month and $5.50 per gram when you reorder it. If you keep the retail price the same, the Profit Report will still give you accurate profit information, since it is based on individual SKUs.
Run a Profit Report
- In the Back Office, go to Insights > Profit Report - Export.
- Set a Start Date and and End Date.
- Select Run Report.
- When the report is ready, a Download button will appear. Select it to save the file to your computer. You can also download the report later from the Tasks page.
Here's the information you'll find in your Profit Report
Each row in the Profit Report is a single item sold, with this information:
- Date: Date the item was sold.
- Receipt ID: A unique identifier for the transaction where the item was sold. This can also be referenced on the Activity screen in the register app or in Back Office.
- Transaction Type: Sale, Return, or Void.
- Greenbits Product ID: An internal unique product ID used by Greenbits.
- Product Name: Product name as entered on the Products page in Back Office.
- Product Category: Marijuana or Paraphernalia, based on the "Is Marijuana" setting on the assigned Product Type.
- Product Type: Product Type that this item is assigned to in Greenbits.
- Product Tags: Tags associated with the product in the Product Details, if applicable.
- Product Is Marijuana: Yes or no, depending on the "Is Marijuana" setting on the assigned Product Type.
- Product Vendor: The name of the product's vendor - previously referred to as "Supplier".
- Product Weight: For unit-based items, this column will show the weight per unit for this item. This field will be blank for any items sold by weight, such as bulk flower.
- Product Weight Unit: For unit-based items, this column identifies the unit of measure - grams, ounces, pounds, etc. This field will be blank for any items sold by weight, such as bulk flower.
- Inventory SKU: The unique identifier for this item, as entered in the SKU field on the manifest or on the Product Inventory tab.
- Quantity Sold: For unit-based items, this will be 1; for weight-based items, this will be the actual weight entered at the point of sale.
- Total Retail Price: The retail price of the item, before any discounts, including all taxes.
- Base Price: The retail price of the item, before any discounts, and before tax is applied.
- Discounts: The total dollar amount of any discounts applied to the item, if applicable.
- Discounted Base Price: Base Price minus Discounts. This is the pre-tax amount that the customer actually paid, and represents your total revenue from the sale of this item.
- Taxes: The amount of tax applied/included for this item. This does not factor into the calculation of cost or profit.
- Cost: The Wholesale Cost of the item(s) sold. For weight-based items, this represents the Cost Per Unit, multiplied by Quantity Sold.
- Profit: Total profit from this item, or Discounted Base Price (column R) minus Cost (column T).
- Gross Margin: Profit (column U) divided by Discounted Base Price (column R), expressed as a percentage.
Get the info you need out of the report
- To view total sales by SKU, create a pivot table.
- To view a total Cost Of Goods Sold (COGS), use SUM in your spreadsheet program to total the Cost column.
For more details, see tips and tricks for working with spreadsheets.