Learn how Instinct can help you track and markup Inventory.
📓 Please Note: This feature is tied to our specific ‘Inventory’ module and if you do not currently have this turned on, please contact us at support@instinct.vet and we can enable this setting for you.
With Instinct EMR’s inventory module, you can set up inventory markups and unit costs within the Admin section in Instinct. Any user with the Products Permission will see a new section on the Product Create/Edit screen called ‘Inventory’. This allows you to record unit costs, markup unit costs, and set internal prices not visible to the clients.
Unit Cost: Cost paid for product
Markup: % amount to markup the `Unit Cost`
Calculated Price: A calculated field that updates automatically based on `Unit Cost` plus the `Markup` percentage
Entering both a Unit Cost and Markup will automatically display a new button called ‘Update Unit Price’ as shown below:
Clicking ‘Update Unit Price’ will automatically update the Unit Price (amount charged to clients) towards the top of the screen:
📓 Please Note: If the ‘Fixed’ toggle next to Unit Price is toggled ON, all fields will be disabled on the Inventory section since they are no longer applicable.
Adding Markup Percentage via Bulk Edit
The Bulk Edit tool on the Product Admin screen can now be used to assign a Markup percentage to multiple products at one time:
📓 Please Note: Saving a Markup percentage via Bulk Edit will only update the Unit Price for products that have an existing Unit Cost set on the Inventory section. If the Unit Cost within the Inventory section is blank, the Markup percentage via Bulk Edit will not update.
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