Actionable Insights is a beta feature. If you would like to try Actionable Insights, email firstname.lastname@example.org.
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 Average of Calculated Wholesale Cost Gross Margin by Product Type.
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:
- Date: Date the item was sold.
- SKU/GB Serial Number
- Lot Number
- 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 Vendor: The name of the product's vendor.
- 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 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.
- 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.
- 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.
- Discounts: The total dollar amount of any discounts applied to the item, if applicable.
- Taxes: The amount of tax applied/included for this item. This does not factor into the calculation of cost or profit.
- Manifest Wholesale Cost: The Wholesale Cost of the item(s) sold. For weight-based items, this represents the Cost Per Unit, multiplied by Quantity Sold.
- 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.
- Manifest Wholesale Cost Profit: Total profit from this item.
- Excise Tax on Wholesale Cost: Tax per unit cost from the manifest.
- Calculated Wholesale Cost (Minus Excise Tax): Manifest Wholesale cost minus Excise Tax on Wholesale Cost.
- Calculated Wholesale Cost Profit: Discounted Base Price minus Calculated Wholesale Cost.
- Calculated Wholesale Cost Gross Margin: Calculated Wholesale Cost Profit divided by Discounted Base Price.
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.