Gross Margin

Tracks the Gross Margin of your company over a period of time.

Users have the ability to either view the gross margin for a particular period (a dropdown allows users to include or exclude taxes) or the history of this KPI (with a chart).

Calculation

Gross Margin is calculated as follows:

(over selected period) → Gross Margin = Total sold - Total purchased

Settings

The time period can be changed in the settings section (top-right cogwheel).

There is no "Gross Margin" report in Xero by the time this article is written. The only way to reconcile the data shown in Impac! is to retrieve both the total amount sold and the total amount purchased and calculate the difference between the 2 to get the gross margin.

To that end you can use the Customer Invoices Report and Supplier Invoices Report, available in Reports > All Reports.

Same thing for QuickBooks: The gross margin has to be calculated manually using the Sales Transactions and Expenses Transactions reports available in Transactions > Sales / Expenses.