---
title: Product Price/Costs definitions
description: VetLinkPro Product Price/Costs definitions
---
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# Product Price/Costs definitions
## v7,v6
#### Costs in Vetlink
### What cost is used?
Depending on the type of transaction, you can choose what cost to use for the calculation. This is a global setting for all branches under;
**Options | Setup | Products | Stock tab | Cost Price Calculation Panel**
The billing option is the cost used for profit calculation in reports.
**Last Cost**
- This is the cost paid for that item on the last creditor invoice receipted. If an item hasn’t been receipted yet the list price from when the product was first set up will be used.
**Net Cost**
- List Price minus Discounts.
**Average Cost**
- This is the average of costs receipted on creditor invoices. If an item hasn’t been receipted yet the list price from when the product was first set up will be used. There are two calculation methods for average cost.
**Rolling average cost**
(current avg cost \* current SOH) + (New cost in invoice \* Qty receipted in New Invoice)
(current SOH + Quantity receipted in New Invoice)
**Average cost over last financial year**
Total qty Receipted over last financial yr \* Total cost of items receipted over last financial yr
Total quantity Receipted on invoices over last financial year
\*\* For services, the Cost field in the product record is used to calculate profits for billing.
#### Product Screen Prices and Costs
**List Price**
- Price from supplier catalogue.
**Markup**
- Percentage difference between List Price and the selling price
**Margin**
- ( (Sell - Cost) /Sell Price) \* 100
- Percentage difference between the selling price and the profit.
- [https://www.omnicalculator.com/finance/margin#how-to-calculate-profit-margin](https://www.omnicalculator.com/finance/margin#how-to-calculate-profit-margin)
**Net Cost**
- List minus Discounts (exc GST)
**Avg Cost**
- Average cost of item when purchased through creditors (Exc GST)
- Average cost can be either a rolling average or financial year average as determined by setup option.
- If an item hasn’t been receipted yet the list price from when the product was first set up will be used
**Unit Cost**
- ((Avg Cost / Buy Size) + GST) if buy GST set to GST under more tab.
**Dose Cost**
- (Unit cost \* Dose Size + GST) if buy GST set to GST under more tab.
#### Price Scheme
| **List + Markup** | **RRP** | **Cost + Markup** |
| --- | --- | --- |
| Sell Price = List + Markup (exc GST) | Sell Price = RRP exc GST | Sell Price = Net Cost (list – discounts) + markup |
| Pack Sell Price = Sell Price + GST | Pack Sell Price = RRP + GST (user enters the RRP price, it is not calculated by Vetlink and won’t change with list price changes.) | Pack Sell Price = Sell Price + GST |
| Unit Sell = Pack Sell / Buy Size | Unit Sell = Pack Sell / Buy Size | Unit Sell = Pack Sell / Buy Size |
To enable selection of pricing schemes go to Options | Setup |Products | 1: Options tab | tick use new Pricing screen | tick Use Pricing Schemes for Product.
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