Gross profit

becht_robert · March 11, 2013, 2:49am

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.

rgds robert

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system · March 11, 2013, 3:09am

Hi Robert

Thanks for pointing it out. You are right. We will change to code to include pos sales invoices.

Thanks,

Anand.

Sent from my phone

On 11-Mar-2013, at 8:19 AM, robert <be...@gmail.com> wrote:

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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system · March 22, 2013, 9:04am

Hi Robert,

We have added POS Sales Invoices in Gross Profit report.

-Anand.

On 11-Mar-2013, at 8:39 AM, Anand Doshi <an...@iwebnotes.com> wrote:

Hi Robert

Thanks for pointing it out. You are right. We will change to code to include pos sales invoices.

Thanks,
Anand.

Sent from my phone

On 11-Mar-2013, at 8:19 AM, robert <be...@gmail.com> wrote:

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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becht_robert · March 27, 2013, 3:07pm

Hi , great that this feature exits now, but it seems there is still a need for polishing and explanations.

1. Remove the time column and replace with buying rate.

2. How is buying rate calculated. Our most sold item bought at Euro 10.50 /no delivery or other cost has a buying rate of 11.35. No clue how this is calculated. Please explain basis of item valorisation.

3. Many items have a zero value, probably because i have negative stock ( i have not yet checked this assumption)

4. Valorisation of items seems to be tricky, depending on many things such as buying rate, depreciation, variation of purchase cost landing cost, storage cost etc… Instead of trying to have Erpnext do the costing taking (all) these factors into account it may be it is an idea that the user can indicate how simple or complex the valorisation should be: user overwrite (the user defines the buying cost), simple purchase cost to more elaborate estimates of the purchase cost/rate.

For me, I would be satisfied as just the last purchase price for bought articles, or the production cost for produced items, where used. Keep it simple.

rgds robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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system · March 29, 2013, 6:54am

Hi Robert,

We have added Avg. Buying Rate column
Buying Rate is Landed Cost which includes Purchase Rate and Charges included in Valuation for that unit of item which is being delivered. The landed cost for that unit of item is selected based on FIFO or Moving Average as defined in Item Master or Global Defaults.

In case of Moving Average, Buying Amount is calculated as:
Buying Amount = Moving Avg. Rate * Qty

But for FIFO, it is the sum of rate of each unit of item. Buying Rate in case of FIFO can be different for each item.
For negative stock, stock value is set as 0. Hence, you are getting the valuation as 0. It is later adjusted when the stock goes positive.
I think explanation of point 2 makes this question irrelevant, since buying rate cannot be taken to be as simple as last purchase price.

Thanks,

Anand.

On 27-Mar-2013, at 8:37 PM, robert <be...@gmail.com> wrote:

Hi , great that this feature exits now, but it seems there is still a need for polishing and explanations.

1. Remove the time column and replace with buying rate.
2. How is buying rate calculated. Our most sold item bought at Euro 10.50 /no delivery or other cost has a buying rate of 11.35. No clue how this is calculated. Please explain basis of item valorisation.
3. Many items have a zero value, probably because i have negative stock ( i have not yet checked this assumption)
4. Valorisation of items seems to be tricky, depending on many things such as buying rate, depreciation, variation of purchase cost landing cost, storage cost etc.... Instead of trying to have Erpnext do the costing taking (all) these factors into account it may be it is an idea that the user can indicate how simple or complex the valorisation should be: user overwrite (the user defines the buying cost), simple purchase cost to more elaborate estimates of the purchase cost/rate.

For me, I would be satisfied as just the last purchase price for bought articles, or the production cost for produced items, where used. Keep it simple.

rgds robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:
It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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becht_robert · March 29, 2013, 7:58pm

Hi Anand,

Average buying rate thus not (yet) show up.

Thanks explanations. I see that for many users (not me) the more complex item valuation is the correct one.

However, I do not understand why VAT is included in the valuation.Well, you know am not an accountant, but my understanding is that all costings (profit, losses etc) are done ex-VAT. The profit is not correctly calculated because selling is exclusive of VAT and buying is inclusive of VAT!!!

Further is it possible to calculate the profit also when stock is negative. If the user opts to select allow negative stock in setup, than, if technical possible functionality should be minimal resticted.

My complements for the the nice table, up to modern standards with easy filters and sort. Add the option to select/deselect columns and it is perfect.

regards Robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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nabin · March 30, 2013, 10:55am

Hi Robert,

Do you select "Consider Tax or Charge for" value as "Valuation and Total", while entering VAT in Purchase Receipt. Then it will be added in valuation rate, and will be considered in buying rate in gross profit report.

Regards,

Nabin Hait

www.erpnext.com

On 30-Mar-2013, at 1:28 AM, robert wrote:

Hi Anand,

Average buying rate thus not (yet) show up.

Thanks explanations. I see that for many users (not me) the more complex item valuation is the correct one.

However, I do not understand why VAT is included in the valuation.Well, you know am not an accountant, but my understanding is that all costings (profit, losses etc) are done ex-VAT. The profit is not correctly calculated because selling is exclusive of VAT and buying is inclusive of VAT!!!

Further is it possible to calculate the profit also when stock is negative. If the user opts to select allow negative stock in setup, than, if technical possible functionality should be minimal resticted.

My complements for the the nice table, up to modern standards with easy filters and sort. Add the option to select/deselect columns and it is perfect.

regards Robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:
It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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becht_robert · March 31, 2013, 3:24pm

Hi Nabin, I just checked, and yes i have “Valuation and Total” standard in the tax template.

rgds robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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nabin · April 1, 2013, 4:32am

In case of VAT, it should be "Total", then VAT amount will not be included in item valuation.

On 31 Mar 2013 20:54, "robert" <be...@gmail.com> wrote:

Hi Nabin, I just checked, and yes i have "Valuation and Total" standard in the tax template.

rgds robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:
It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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becht_robert · April 1, 2013, 7:26am

Hi Nabin

Thanks. For the critical issues in ERPNEXT the more information should be given in manual.

The columns in this table are similar to the Sales Taxes and Charges Master with the

difference as follows:

Consider Tax or Charge for: In this section you can specify if the tax / charge is only

for valuation (not a part of total) or only for total (does not add value to the item) or for

both.

Tip: If you find it too confusing to setup taxes right now. Skip this and come back

again when you start making your Quotations / Sales Orders or Invoices.

I do see the logic now, but honestly I never understood the meaning of these “total” and “valuation” in the VAT/charges lines of charges.This important issues should be propoerly addressed.

rgds robert

On Monday, March 11, 2013 3:49:03 AM UTC+1, robert wrote:

It would be nice if the new Gross Profit Report would also work for those who use the POS and thus do not have delivery notes.
rgds robert

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