How to track product-wise profitability?
Here's a step-by-step video guide on how to track product-wise profitability of your inventory items:
With our new product-wise P&L reports, you can do that exactly with ease!
Just navigate to Accounting Reports > Other Reports > Product-wise reports to start tracking product-wise profitability!**
To get the most out of this report, we recommend that you keep your inventory items updated with details such as buying price, purchase quantity, etc. ( See how to do that here >)
If you want Refrens to automatically update your P&L every time you purchase/sell any item (I.e create an invoice OR expense on Refrens), you can do that as well! Here's how -
Step 1: Turn on "Manage Inventory"
Firstly, go to Business Settings > Accounting & Inventory > Inventory > Turn the "Manage Inventory" toggle on as shown below:
Once enabled, every time you create an Invoice OR record an expense, the system will automatically update the total quantity sold/purchased along with the selling/purchase price.
Step 2: Ensure the "Manage Stock" toggle is on
\
Once "Manage Inventory" is enabled, go to your inventory dashboard and ensure that the "Manage Stock" toggle is turned on for all the items for which you want the auto-update feature enabled.
That's it! you can now start tracking product-wise profitability with ease!
With our new product-wise P&L reports, you can do that exactly with ease!
Just navigate to Accounting Reports > Other Reports > Product-wise reports to start tracking product-wise profitability!**
To get the most out of this report, we recommend that you keep your inventory items updated with details such as buying price, purchase quantity, etc. ( See how to do that here >)
If you want Refrens to automatically update your P&L every time you purchase/sell any item (I.e create an invoice OR expense on Refrens), you can do that as well! Here's how -
Step 1: Turn on "Manage Inventory"
Firstly, go to Business Settings > Accounting & Inventory > Inventory > Turn the "Manage Inventory" toggle on as shown below:
Once enabled, every time you create an Invoice OR record an expense, the system will automatically update the total quantity sold/purchased along with the selling/purchase price.
Step 2: Ensure the "Manage Stock" toggle is on
\
Once "Manage Inventory" is enabled, go to your inventory dashboard and ensure that the "Manage Stock" toggle is turned on for all the items for which you want the auto-update feature enabled.
That's it! you can now start tracking product-wise profitability with ease!
Updated on: 03/06/2025
Thank you!