Why Stock Items Get Sold for 100% GP in MYOB Exo and How to Fix it
Don’t we wish we could sell an item for a 100% gross profit (GP)? Don’t get me wrong, there are a few rare circumstances where you can sell an item for 100% but the reality is everything a business sells is going to have a cost to then later sell it. So why when you look at the MYOB Exo Stock Sales report at the end of the month do you see an item being sold for 100% GP when you know this isn’t the case?
Integrity and trusting the information within MYOB Exo is crucial to the success of the system and if you see information like a 100% GP this is potentially going to make you question other areas in the system. Therefore, it is crucial we get it right.
In this video, we are going to explore:
- Why items are sold for 100% Gross Profit and what MYOB Exo is “thinking” for this to occur;
- How to ensure MYOB Exo places the correct costing information against every item which is sold in MYOB Exo; and
- What adjustments need to be made to the financials when items are sold for 100% GP.