When we talk about COGS, Gross Profit also gets a mention. The cost price does NOT include labour costs or other overhead expenses. If you are buying pre-made goods, then this is simply the price you paid for them.If you are preparing products in-house then this will include all the ingredients that go into your recipe.
Lightspeed allows you to track your COGS using a few different methods, depending on how much time you're willing to invest in managing costs and inventory. It's important to track how much cost you're incurring for a given amount of sales, obviously spending more than you earn is bad business. Your COGS (Cost of goods sold -we always love a good acronym) is the total amount you've spent on products (stock) in the course of selling. Reporting on sales revenue, cost price & gross profit % Lightspeed provides you with real-time data to help you grow your business and reduce costs. No matter how you track your inventory, Lightspeed works seamlessly with purchasing, tracking wastage, regular stocktakes or recipes for each product. With the proper insight into your cost of goods, you can take real action to reduce your expenses, increase your profitability and, potentially save your business thousands and not become just another hospitality statistic.
#Lightspeed onsite create suppplier how to#
Supplier information is essential to making stock orders easier to create.įor more information on ordering stock, refer to our How to Order Stock (Purchase Order) guide.Your cost of goods is one of the biggest expenses in your business - right after labour cost. This allows you to capture supplier codes and supplier prices for all the suppliers that you source a product from, and quickly use this information when processing a stock order.įor more information on multiple suppliers, refer to our Multiple suppliers for products in Retail POS (X-Series) guide. Multiple suppliers can be recorded on a product. This is a great way to streamline your ordering process and better track data for those items. If you uncheck this box, you can enter different information for the Postal address fields. Postal address same as physical address: Check this box to use the information entered into the Physical address fields for the Postal address fields. They do not have to be filled out, but are useful for records. Street, Suburb, City, Postcode, State, Country: These fields are used to track the location of the supplier for orders and records. Contact infoįirst name, Last name, Company, Phone, Mobile, Fax, Website, Twitter: These are standard fields for your supplier's official contact name, primary phone number, fax number, etc.Įmail: This field will automatically add the supplier’s email address to any orders emailed from Retail POS. This field is great for adding info on additional contacts, secondary phone or emails, or any other info needed. This does NOT apply to existing products or products created via CSV import.ĭescription: This field is used for any additional information needed about the supplier that isn’t covered elsewhere. Supplier name: This is the name of the supplier that will be displayed in your supplier list, and on any invoices addressed to this supplier.ĭefault markup: When you assign this supplier to a product you're creating, this markup will automatically be applied. To add a supplier, navigate to Catalog > Suppliers and click Add supplier. Suppliers are a feature that can help streamline your ordering process and make tracking products in a group simpler and easier.Īlso, suppliers can be used to add a standard markup to any products bought from them to speed up pricing and product entry.
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