Cost of Goods Sold for Products

Cost of goods sold (COGS) is the direct costs attributable to acquiring and providing a product or procedure to your patients.

patientNOW directly tracks COGS for products because there is a 1-to-1 relationship; see Configuring Inventory for COGS below. Since procedures might have a supply product AND a cost per visit, these are a little more complex to configure and use; see Cost of Goods Sold for Procedures.

Note: Entering and Tracking COGS may have an effect on Commissions based on how Commissions are configured.

Configuring Inventory for COGS

Each product you sell has a direct cost. For instance, you might purchase a cleanser for $25 and sell it for $50. You may configure this easily and run a report to show your COGS and Gross Profit.

Enter Cost to Practice

Navigate to Back Office | Inventory, Products Tab.

Select the product in the upper window.

Enter your cost in the Cost to Practice field.

Select Save Modifications.

Run Cost of Goods Sold Report

Navigate to Reports (at top of screen) | Financial, Cost of Goods Sold by Income Facility report.

Complete the filters and Generate Report. For additional information, check out Report - Cost of Goods Sold by Income Facility