The Product Profitability Insight shows a comparison of your sales alongside the wholesale cost, organized by day and by each individual SKU. This gives you insight into data across all of your locations, so you can analyze the profits of your entire business.
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.
Note: 0 quantity items are not included in this report.
- Go to Insights > Product Profitability.
- Pick a Date range that fits your needs.
- If you want to see sales data from yesterday, select Previous day.
- Historical Sales includes data from the past 90 days, not including today.
- You can change the Location Name, Product Type, and Product Vendor controls to further filter the results you see.
- Select one of the other tabs to see profit broken down by Brand, Strain, Vendor, and Product, as well as the Gross Margin by Product Type and Profit (Excise Tax Included).
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.
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:
- 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.
- Product Name: Product name as entered on the Products page in Back Office.
- Product Type: Product Type that this item is assigned to in Greenbits.
- Vendor: The name of the product's vendor.
- Cost: This is the Wholesale Cost of the item(s) sold. For weight-based items, this represents the Cost Per Unit, multiplied by Quantity Sold.
- Base Price: The retail price of the item, before any discounts, and before tax is applied.
- Example: You have an item that has a retail price of $175, which includes a 20% tax. Regardless of any discounts that are applied, the Base Price will always show in the Profit report as $145.84. This figure is calculated by dividing 175 by 1.2.
- Discount Plan(s): The discount name.
- Discount %: The discount price divided by the base price.
- 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.
- Total Taxes: The amount of tax applied/included for this item. This does not factor into the calculation of cost or profit.
- Total Price incl Taxes: The total retail cost.
- Profit: Discounted Base Price minus Cost.
- Gross Margin: Subtract from one the Cost divided by Discounted Base Price.
- Employee: Budtender name.
- SKU/GB Serial Number
- Package/Lot Number
- Shift ID
- Product Tags: Tags associated with the product in the Product Details, if applicable.
- 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.
- 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.
- Greenbits Product ID: An internal unique product ID used by Greenbits.
- Date: Date the item was sold.
- Customer/Patient Email
- Customer/Patient Phone Number
- Payment Type
Calculate COGS and total sales by SKU
- 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.