How to generate the Financial Summary in Kit order?

Financial Summary in Kit orders shows the bottom-line earnings of an item. Kit orders from Apptivo help you to combine estimates, Purchase Orders, Supplier Invoices, and invoices into a single page for calculating the margins for the sales happened with a particular supplier.

To generate the complete Kit Order summary to have to perform the following steps.

1. Create an Estimate with Item
2. Convert Estimates into Kit Order
3. Convert the Kit Order into an Invoice
4. Convert PO into Supplier Invoice
5. View Financial Summary

Create an Estimate with Item

• Login and access the Estimates App from the universal menu.
• Click on the Create New Estimates.
• In the Create Estimate page, add the mandatory details.

• Scroll down to view the Products/Item Sold.
• Add the Item and Quantity. Click on the + icon to add the supplier details.

• Add the Supplier details.

• Once the item and supplier details are added, then click on the create button.

• The Estimates will get created.

Convert Estimates into Kit Order

• In the Estimates Overview page, you can view the Convert button.
• Click on the Convert button and select the To Kit Orders.

• You will be directly redirected to the Create Kit Order page with the auto-populated details from the Estimates.

• Then, click on the create button at the bottom right corner of the page.

• The Kit Order will get created.

Convert the Kit Order into an Invoice

• Once the Kit order is created, you can view the Convert button on the Kit order overview page.
• Click on the Convert button and select the To Invoice.

• You will be redirected to the Create invoice page.
• The details of the Kit orders will get auto-populated to the Invoice fields.

• Click on the Email Invoice button.

• The Compose email side window will get open.
• Click on the Send button.

• Now, the invoice will get created and sent to the customer for approval.

Note: The PO will get created automatically once the Kit order is created. Click Here to enable the toggle to auto-create the PO.

Convert PO into Supplier Invoice

• Now, go to the Kit Orders app and select the created kit order from the list.
• Once the Kit order is created the PO will get created automatically.
• Click on the 360-degree tab, to view the associated PO.

• Click on the More Details to view the PO details.

• You will be redirected to the PO Overview page.
• In the PO Overview page, you can view the Convert button.
• Click on the Convert button and select the To Supplier Invoice.

• By clicking on the Convert button, you will directly be redirected to the Create supplier invoice page.
• You can view the details of the PO will get auto-populated in the create supplier invoice.

• Here, add the created invoice number.

• Then, click on the Create button at the bottom of the page.

• The PO will get converted to the Supplier invoices.

View Financial Summary

Note: Click Here to know how to customize the Financial summary to view in Kit Orders Overview page.

• Now, go to the Kit Orders app and select the created Kit order from the list.
• In the Kit Order Overview page, you can view the complete financial summary.
• The Gross Profit is Calculated by the formula is Profit = Inv - Supplier inv.
• The Gross Profit Percentage is Calculated by the formula Profit % = Profit * 100 / Inv.