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If inventory is used during a job or service, part of the price
charged the client is the inventory + markup. By charging for
inventory used, this will offset the purchase of the inventory and
profit will be the amount of markup applied. Each inventory item is
broken down to a per use or unit basis, determined by the user, and
a markup applied.
Paint that costs $27.00 a gallon was used to paint the ½ bath, and a
markup applied of 20%. 20% of $27.00 equals $5.40. By charging the
client $32.40, you cover the cost and have a profit of $5.40 or 20%.
If an outside service is used during a job or service, part of the
price charged the client is the outside service + markup. By
charging for the outside service cost, this will offset the invoice
from the outside service, and profit will be the amount of markup
applied. Each outside service invoice can be input and a markup
applied. To repair a light switch this painting company hired D& S
Electrical. The invoice was for $45.00 and a markup applied of 20%.
20% of $45.00 equals $9.00. By charging the client $54.00, you cover
the cost and have a profit of $9.00 or 20%.
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