Inventory - Use a margin from the Cost price to calculate Sale Price
It would be good to be able to set a mark up margin for loaded products and services. This way when our cost goes up we could just alter the cost price and it would automatically adjust the sale price rather than us having to work it out for every item and load it manually.
Terry Bottle
shared this idea
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Heidi Bresler
commented
Ability to apply a markup to a fixed labour cost and also a different markup for materials. Put these into a sales invoicing template to avoid manual calculations outside of Xero.
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Stephanie Halcro
commented
Products and Services - Ability to set mark up rules that will automatically calculate and either fill in or offer a suggestion for the sale price. We frequently have to update the cost for products, which will be used on multiple invoices or projects. It is very time consuming, with a high probability of human error, to manually calculate the sale price for each update. The ability to have multiple rules is needed. We have two rules based on the cost (less than $100 and equal to or greater than $100), and have discussed adding additional rules.
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Tasha Longmire
commented
Even being able to use the multiply feature in the product info would be helpful.
Its annoying that I can use * or / in invoices and bills to pay, however when it comes time to update a products price or create a new product file, I have to use an external calculator because the function is not allowed for some reason.
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Christopher Manning
commented
+1 I have to use a calculator every time I add an item. Then I need to track this separately to know the original cost and markup percentage.
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Liz Hamilton
commented
Why can there not be a "% markup" option in the Sell section?
It's standard for us to put the same % markup on all our products, but each time I add a new one, I have to work it out manually.
FYI - I usually about up to 10 a week! -
Bryn Parrott
commented
I am surprised not to find it here, but it would be useful to have the feature to update sell price on inventory items based on the formula of Buy price x specified margin.
Today, its necessary to download the whole inventory list as CSV, update the pricing on a spreadsheet and then upload it once again. Pretty tedious. -
Neville Gardner
commented
It's a QuickBooks feature!
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Neville Gardner
commented
Products and materials
Other packages provide a means to set a default value to mark up items from their cost value then automatically set the sales value accordingly.
The user would then preset a markup value to be applied across the whole list of items in Products and Services.
Also, a universal feature to adjust for price increases from a pulldown list of the inventory.