Nit Pick on Margin Terminology

[VortecCPI]

I hate to even bring this up but I will...

"GP %" and "Gross Margin" and "Gross Profit Percent"...

Markup = (Price - Cost) / Cost < For reference
Margin = (Price - Cost) / Price < Used in webERP

In my opinion...

The term "GP %" should really be "GM %" because it is a margin calculation (M), not a profit amount (P).

The term "Gross Margin" should really be "Gross Profit" because it is a profit amount, not a margin calculation.

The term "Gross Profit Percent" should really be "Gross Margin Percent" because it is a margin calculation, not a profit amount.

I bring this up only because we just had discussions around Margin versus Markup versus Profit a few days ago. There was a lot of misunderstanding and misuse of the terms by the owners. In our reports I have changed the language file to reflect what is written above.

All that being said the financial reports coming out of webERP look great. Very good work and a big hats-off to all of you who worked on this!