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Hi team, appreciate your interest of this idea. While we don't have direct development for this planned right now we wanted to share a workaround that may help you here.
When adding the billable expenses to an invoice, you can override the unit price. Using Xero's inbuilt calculator, you include margin/mark-up by multiplying the unit price by the percentage you wish to mark up.
We understand this doesn't cover all situations of needs expressed. We will continue to monitor this idea and share if there's any progress.
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Denise Bofill
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You have a great system of assigning item numbers to a customer - a feature that was one of the core reasons we chose Xero as we thought it would improve our profit margins by ensuring every part we ordered was assigned to a customer.
Yet when you ASSIGN TO A CUSTOMER - VIA BILLABLE EXPENSES -and add that item to an INVOICE - YOU DEFAULT TO COST PRICE ON AN INVOICE!
WHAT BUSINESS BUYS AN ITEM AND SELLS IT FOR THE SAME PRICE! Makes no logical sense. Why require a sale price on an item if your system isn't using it. If you have thousands of items of inventory as we do, you set the Cost price loading to reach the SALE price when you create the item number. The majority of the items should therefore default on the Invoice to the SALE PRICE - the exception should be that you need to go back and find the cost price, as it would be infrequent when you have high volumes of inventory to adjust the price, and you can reduce the sale price by putting in a discount code on the invoice that the client can see and which the client appreciates.
It makes no sense to use cost price as the default on invoices.
Lets say you have 5 items, Item Number XXYY you want to assign to Customer B. You set the cost price as $10 Sale price $25 when you set up ITEM XXYY. When the bill comes in you 'assign to customer 5 items of XXYY to Customer B'.
You go to an invoice for Customer B - and add billable expenses and terrific, you can see that 5 items XXYY have to be added to the invoice. You add them as separate items.
What actually appears on the Invoice is 5 items with description only NO ITEM NUMBER XXYY APPEARS IT IS MISSING - and IT SHOWS THE COST PRICE at $10.
XERO PUT IN A HUMAN ERROR RISK! As a business I now have to ensure that someone knows that the price is the cost price, and AN EXTRA PROCESS NEEDS TO OCCUR to get the sale price up.
To get the ITEM XXYY sale price to come up, we have to go back through the system to find the original invoice and locate the item number. Go back to the INvoice we were working on, then key in the ITEM XXYY - Sale Price comes up
BUT THE NUMBER OF ITEMS - IN THIS CASE 5 = defaults back to 1 item.
NOW THERE ARE TWO HUMAN ERRORS AND TWO EXTRA ADMIN PROCESSES! - Instead of all being automated through the system, to load the SALE price with the correct number of items as the default.
You then go to run the 'Billable Expenses Report' to double check, thinking well it will show that there are still 4 items to be added since now you've keyed in the ITem number it defaulted back to only 1 number.
WRONG - it now shows via billable expenses that all 5 items of XXYY are allocated to that invoice, even though on the actual number on of XXYY on the invoice is 1.
SAFETY NET REPORT HAS A FLAW - So your billable expense report only tracks whether an ITEM XXYY is listed on the invoice, it does not track how many items are on the invoice. The report should show - if ITEM XXYY has 5 assigned to the customer and 1 item is on the invoice then it should show ITEM XXYY 4 are unassigned.
Xero created this great feature but somehow just illogically didn't understand how businesses run and what they are trying to do.
Even if you say others run a COST PRICE LOADING - inventory sale process so they want to see the cost price and load it. THEN WHY IS THERE NOT A PERCENTAGE LOADING TO THE COST PRICE ON THE INVOICE! If you add a margin percentage on the invoice to the cost price - the risk here is that you need to be aware if you added in the cost price incl or excl GST.
The most frustrating process is that there is NO BUSINESS LOGIC in why this potentially great feature that could protect the profit margin of the business - now requires additional administration expense, and additional risk to profit margin because every item has to be checked to get the sale price on the invoice.
Added to this I have raised this multiple times with your team, This is the first time I am aware that I have to raise it on this forum.