Invoice total summary report questions

Discussion created by m.mcdonell on Jun 14, 2014
Latest reply on Jun 14, 2014 by beverly

So I have a different business situation then most. I have a precious metal company and we routinely buy product and sell product to the same person. The product we buy is listed as a negative quanity which offsets the products we purchase leaving either an amount we pay or an amount we invoice. All this is done on the same invoice which presents part of my problem.


We sell a product for $600 (which has a cost of $300 and a $300 profit). We buy a product for $200 (which has a sell price of $450.00 and a profit of $250) and the balance shows we invoice $400.00.

How do I prepare summary reports to show the profit and another report that shows the total purchased and total sold based on the records shown?

Currently all my reports end of showing only the $400 invoiced which does not reflect the true activity with each customer.

Your help would be hugely appreciated,