Sku Grid Profit Formulas Settings: How to Calculate Estimated Profit in Sku Grid
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In this video, we will show you how to configure your Profit Formulas Settings.
Once you are logged in to Sku Grid, click on Settings.
Click on Profit Formulas.
Please pay attention to the notice in Red. A lot of people confuse the Profit Formula with the repricing of their items. This notice in red, states that Profit Formulas are for reference only, and that if you need to calculate the selling prices for your items, that must be done in your marketplace settings.
In fact, changing anything on this page does not affect the prices of your items at all. The Profit Formula is used to calculate Estimated Profit as displayed on your grid.
Since people use Compare Item URLs for different things (which are optional, but necessary if you want to see Estimated Profit on the grid), Sku Grid also allows you to customize how profit is calculated.
Most people that do choose to use Compare Item URLs are using their own eBay or Amazon links for reference there. Then the Estimated Profit is determined by this Profit Formula -- and by default it is set up in a way to calculate your selling price - supplier price - approximate fees. 1.15 is used here as that is the amount of Amazon fees (15%), while eBay & PayPal Fees usually total around 13%...so having 15 here is enough to account for both scenarios. You can choose to leave the default profit formula the way it is, or you can customize it so that Estimated Profit is a little more accurate for you.
We've customized it to what we feel is a formula that is easier to understand and work with and it will be shown in the description of this video as well as on screen.
You can simply copy & paste this formula into the Profit Formula field if you'd like.
(compare_price+compare_shipping)-((compare_price+compare_shipping)*0.15)-(vendor_price+vendor_shipping)
In most cases, you can ignore the additional formulas portion as it typically isn't necessary when calculating estimated profit.
If you ever have a question, please feel free to reach out to support.
Once you are done with your Profit Formulas settings, scroll down and Save Settings.
Please Note: The display of estimated profit on the grid is optional. If you are choosing not to use Compare Item URLs also be midful that your Estimated Profit will always display as a Negative Number since Compare Price is not being read. It's like setting the profit formula to 0 selling price - supplier price - approximate fees...and anything subtracted from 0 is a negative number. So don't be alarmed if your Estimated Profit shows up as 0. It just means that you're not using compare item urls and not necessarily that you are not making a profit.
Your actual current selling price can be seen on the My Items Tab grid, under the Reprice Item Column. You will see Last Call under your item and it will show a price. That is your last calculated selling price.
We hope that this video has been helpful. See you in the next video.
• Sku Grid Profit Formulas Settings: Ho...
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