A Markup is the difference between the selling price of a good or service, and its cost, and is usually expressed as a percentage. For example: The price of a couch might be $100, but your firm intends to make a profit on the item, and therefore sets a Markup percentage of 20%. The cost incurred for the item is $100, but the price you sell it to your customer would be $120. Markup Reports can help give firms a comprehensive summary of their project's item figures.
In these Best Practices, and Short Video, we are going to show you how to create a Markup Report in Designer Link 2.0. The bottom of this page also includes related articles and frequently asked questions.
VIDEO TUTORIAL
BEST PRACTICES
BEST PRACTICES
MARKUP GLOSSARY
Markup Fields:
There are no "markup fields" in the item pricing tab of the item modal, but in product reports the "markup fields" will isolate the total markup amount. This is the difference between what the cost of the item is and what the item is sold for.
Markup (Percentage):
The markup percentage in the item pricing tab of the item modal refers to the function of the % item COST will be added to the selling side/what the client pays, which will be the profit when sold.
Other Cost Markup (Percentage):
The markup which is the difference of what was paid for the item and the amount the item was sold for (per above as a function of % of cost) but specifically the "other cost" field of the item (cutting fee, measuring fee, air freight, other, etc;).
Shipping Markup (Percentage):
The markup which is the difference of what was paid for the item and the amount the item was sold for (per above as a function of % of cost), but specifically the "shipping" field of the item.
Product Markup:
The markup which is the difference of what was paid for the item and the amount the item was sold for (per above as a function of % of cost), but specifically the difference between the "product subtotal" and "net cost" fields.
Total Markup (Excludes Shipping):
The markup which is the difference of what was paid for the item and the amount the item was sold for (per above as a function of % of cost), but specifically, less the shipping amounts, so just the product net cost and other cost
Markup Taxable:
This is just the isolated markup amount UNDER THE CONDITION OF if it is taxable (difference between cost and selling side)! It will be a binary, it either is or it isn't, so it's either the full markup amount or zero.
Other Cost Markup Taxable:
This is just the isolated markup amount UNDER THE CONDITION OF if it is taxable! It will be a binary, it either is or it isn't, so it's either the full markup amount or zero, but specifically for the "other cost" field
Shipping Markup Taxable:
This is just the isolated markup amount UNDER THE CONDITION OF if it is taxable! It will be a binary it either is or it isn't so it's either the full markup amount or zero but specifically for the "shipping" field
FREQUENTLY ASKED QUESTIONS
FREQUENTLY ASKED QUESTIONS
Why is my Default Markup for my project not populating correctly?
Your Default Vendor Markup % will always supersede your Default Project Markup.
Can I bulk update a Markup for my items?
Yes! Select all of the items you would like to markup, click the blue Actions dropdown, and hit Update Markup, to bulk update the items.
Can I bulk update a Markup for my vendors?
No you cannot bulk update a markup for your vendors. While in the vendor tab you will be able to view Markup %'s at large, but will need to update each individually.
And that is how you create a Markup Report. For further information please make sure to reach out to our help desk via the chat icon in the bottom right corner of your Designer Link 2.0 browser, or you can always email us directly at [email protected].