# SalesCalc

by On-Core Software LLC

### App Details

Version
2.0
Rating
(48)
Size
1Mb
Genre
Last updated
September 28, 2015
Release date
July 24, 2008

### App Store Description

- quickly
- efficiently
- accurately
without having to remember formulas and equations

Anyone can use it - it's really so simple.
All you need is an iPhone.

If you need to calculate:
- Gross Margin
- Markup %
- Percent Change
- Percent Total
then SalesCalc is the App for you.

Most people in sales and purchasing rely on their favorite spreadsheets when they want to calculate margins, markups or discounts. Some folks have memorized the formulas and use a calculator for the task but we think that the iPhone presents an easier way to get the answers you need to close a deal quickly. Instead of having to remember formulas - you'll never make a mistake with SalesCalc.

SalesCalc will deliver your answer in under a second, all you need to do is input numerical values into 2 of the 3 fields. To clear the fields, just shake the iPhone.

SalesCalc puts a few of the most commonly used sales related calculations in the palm of your hand so the next time you are in deal making mode - reach out for SalesCalc and put together the best deal ever.

Some Definitions:
- Gross Margin is the percentage of the selling price that can be applied toward covering your operating costs and profit. Basically, 20% gross profit margin means that for every dollar generated in sales, you have 20 cents left over to cover basic operating costs and profit.
Larger gross margins are generally good for companies, with the exception of discount retailers which need to show that operation efficiency and financing allows them to operate with smaller margins. Since the Margin is the percentage of the price that is markup, it can never exceed 100%

- Cost of Goods Sold includes variable and fixed costs directly linked to the product, such as material and labor. It does not include indirect fixed costs like office expenses, rent, administrative costs, etc.

- Markup also known as Cost-Plus-Markup or Markup by Cost is the difference between the selling price and the cost divided by the cost of goods sold expressed as a percent. The initial markup of a retail product is also known as IMU.

- Markdowns or Discounts are used to generate sales and or clear inventory and are usually expressed as a percentage of the Original Price.

- Initial pricing is an extremely important step in merchandising. For retailers that use a traditional calculation, such as Keystoning, which is doubling cost to arrive at the selling price (100% IMU = 50% profit margin), this may or may not be adequate to be profitable, particularly after markdowns are taken. In reality, there are numerous examples of products that cannot be sold profitably, but need to be in the store to satisfy Customer needs. Therefore, other products need to be sold at higher MU%'s to cover the net losses of the products that lose money. SalesCalc gives you a few ways to price your products so that you can calculate your profitability using the method that best fits your business model.

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