Product Batch Cost Basis
This section discusses the importance of cost basis for tax purposes as it calculates the amount of total profit, cost/ purchase price, and revenue to understand capital gain or loss.
Product Batch Cost Basis
View Cost Basis for all Product Batches
Click the Products module which will open the Product List. From here, go to any Product and click the small gray graph icon marked as View Report that will redirect to the Product Batch Cost Basis page for all Batches created of the selected Per Unit Product. The cost basis report will show total profit, total revenue, total cost, total vat, and total discount of that Per Unit Product within different time frame ranges.
A short description of the Product Batch will show below the cost basis summary. Pick a Cost Basis range from the dropdown menu to see results on Daily, Monthly, Hourly, Weekly, Half Yearly, or Yearly basis. Also, detailed Product Batch Cost Basis Summary for all Batches of a Per Unit Product will show in a long list of entries.
Image 1: Cost Basis Report for all Batches of a Per Unit Product can be viewed by from View Report button.
Image 2: Product Batch Cost Basis shows Per Unit Product info and detailed summary of all Product Batches.
View Cost Basis for a Specific Product Batch
Product Batch Cost Basis Report for a specific Batch of the selected Per Unit Product can be viewed by clicking the Manage Batches button on the Product List page. This will redirect to the Product Batch List page where clicking on the View button will show which Serial Numbers for a specific Batch of the Per Unit Product were sold. In Product Batch List page, click the gray graph icon to open Cost Basis for a specific Batch of the Per Unit Product.
Image 3: View Cost Basis Report for a specific Batch of a Per Unit Product from the Manage Batches button.
Image 4: Click the View button to see which Serial Numbers of a specific Per Unit Product Batch was sold.
Image 5: Check all the sold Serial Numbers or Units for a specific Per Unit Product Batch marked in blue.
Image 6: Click the gray graph icon to open Cost Basis for a specific Product Batch of the Per Unit Product.
Cost Basis Summary Section
Clicking the small gray graph icon from Product List will redirect to Product Cost Basis page. On the top is Product cost basis summary showing total profit, total revenue, total cost, total vat, total tax, and total discount and below it is the detailed description of the Product Batch. For Product Batch Cost Basis, the Pick a Range or range filtering option will show the Product’s Cost Basis on Daily, Monthly, Hourly, Weekly, Half Yearly, or Yearly basis. Below is a long list of Product Batch entries showing calculations of profit, cost, revenue, vat, tax, and discount separately.
Image 7: Product Batch Cost Basis shows Cost Basis summary, Product Batch info and detailed breakdown.
Cost Basis Search and Range Selection
The Product Batch Cost Basis page have a Search button with a dropdown menu for four options - Order, Customer, Product, and Product Batch on the top right. Clicking each of these options will bring cost basis results of Order, Customer, Product, and Product Batch whichever is selected by redirecting to those pages.
For example, to search and find a Product Batch’s Cost Basis result, select Product Batch from the dropdown and type a target Product Batch’s name in the Search box which will bring in the selected Product Batch’s Cost Basis result. From the Pick a Range box, select - Daily, Monthly, Hourly, Weekly, Half Yearly, and Yearly to view results of chosen cost basis summary. In this way, the Shop Owner can search for any Product’s Cost Basis result.
Image 8: Range Filtering option is enabled for Product Batch, select an option to view their Cost Basis.
Image 9: Select Product Batch from dropdown and type Batch's name in Search Box to view their Cost Basis.
Image 10: Pick Range from Daily, Monthly, Hourly, Weekly, Half Yearly, or Yearly to view their Cost Basis.