Sales and finance – Margin and markup
Margin is the difference between the selling price and the cost of goods sold. E.g. If a product sells for $100 and costs $70 to manufacture, its margin is $30 (30% margin). Margin gives you an instant understanding of how much profit you will make when selling a product or service.
Markup allows you to easily adjust the selling price while compiling a sales document. Markup is the amount by which the cost of a product is increased in order to derive the selling price. E.g. A markup of $30 from the $70 cost results in the $100 price (42.9% markup).
You can set a buying price for the product. Scoro will display that in the margin field when you are making a quote or an invoice, so you'll see in advance how much profit you're going to make.
Go to Settings > Sales and finance > Margin and markup to activate the features.
Note! Margin and markup are available in Scoro Sales Hub and Business Hub plans.
To set the buying price for a product open the product card in the product database.
The margin field is automatically displayed when you are making a quote or an invoice, so you can already see how much profit you're going to make.
A detailed overview of the margin is available in the margin report accessible in the reports module.
Markup can easily be adjusted while compiling the sales document by just clicking on the markup field and changing the number.
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