Cost Sheet

Created by Level 1 Support Team, Modified on Wed, 19 Mar at 5:38 PM by Level 1 Support Team

What is a cost sheet?

A cost sheet is a detailed document that outlines all the costs associated with selling a product or providing a service. It is essential for determining the total cost of a product, setting prices, and ensuring profitability.

How to create a cost sheet?

Select Sales => Cost sheet. Click on Create New button.
The form can be divided into 3 parts:

1. Cost sheet details:

If you have already add a cost sheet and you need to modify it but keep both versions, then you can select copy cost sheet from the dropdown list and the version will be the number of this new copy.
As the cost sheet is the next step in order to estimate the total cost for the client, then it can be linked with a customer enquiry. To do so, select the transaction type, and transaction reference (customer enquiry number), and all the details for the customer and items will be filled automatically.
In addition, there is also the status of the form – open / closed - , date of creation, and approval status.

2. Customer details:

The details for the customer, job, and also financial center – if needed- should be filled in this part.

3. Cost sheet item details:

When adding the details of items, it is possible also to specify the supplier details, and moreover, if you are dealing with him in different currencies you can select the currency in the supplier details.
In the supplier cost columns, the cost per unit should be filled and then total cost will be specified depending on the total quantities. Converted cost then will be unit/total cost in the local currency.
When adding selling price, you can either directly specify unit cost, or add a markup percentage/amount to determine selling price (unit cost + markup percentage/amount = selling price for unit).

Net Selling price then will be net after discount deduction.
Tax details: you can select different tax group per item separately, or you can select tax group above the table to be applied for all items. Then, total in SAR this is the total in local currency after applying the tax.