Starting December 3rd, 2016 - Noosh users will have the ability to include margins, instead of markups, within a quote calculation. This allows Noosh customers the flexibility to create and display quote(s) based on markups or margins depending on the accounting practices of that client or workgroup.
This is guarded by a workgroup preference called “Enable Margins”. By default, if this preference is NOT enabled, everything within a quote is markup based. When enabled, everything, including displays and related calculations, are margins based.
As with markups, users can specify a default margin percentage that will be applied to all spec items within a quote for each client. For a specific “Product Type”, users can override the default margin percentage with a specific margin percentage for that particular product type. In the sample below, for the client “Best Client”, a 10% margin will be applied to all quoted items with the exception of specs items that have “promotional products” as its product type. Those specs will have a margin of 20% applied to them.
The relationship between cost, margins and sell price is as follows. The margin % cannot be equal to or greater than 100%. Users can enter a value for the margin between 0% - 99.99%.
Based on the sample setup above, when creating a quote with two spec items – (1) Christmas Store Sales T-shirts; and (2) Printed Product (Booklet), corresponding margins of 20% and 10% are applied to items 1 and 2 respectively.
Please note that any quote(s) created before the “Enabled Margin” is turned on will keep the markup setup. Only quotes created after the workgroup preference is turned on will use margins within its quote calculations.