Tracking Estimated Gross Profit at the transaction level helps provide sales managers and reps with key data for negotiating pricing with customers, for establishing pricing policy, and for establishing and tracking commission plans. With this feature set up, sales reps and managers will see the Estimated Gross Profit on Opportunities on up to Invoices.
With the same feature enabled, NetSuite also allows managers in purchasing, operations and pricing to display the Projected Value on Assembly Build records, which includes Estimated Cost of labor and services for sale, thus providing additional insight that Item Inventory Valuation reports cannot provide â€“ critical data for establishing product pricing policy, improving manufacturing process, and managing more profitable vendor relationships.
– Setup/Company/Enable Features/Transactions tab: “Gross Profit”
– Set Up Items: Select a Cost Estimate Type. This is different than the costing method, which drives true COGS. Cost Estimate Type is used by NetSuite only to determine the method by which you will define an Estimated Cost for establishing Estimated Gross Profit.
– Transaction Forms: Enable and layout Transaction form fields and set Role permissions
– Assembly Build Forms: Enable the Body field Total (Projected Amount).
Reporting: Add the suite of fields available with this feature to Forecasts, Sales Reports, and Saved Searches.