Email Alert when a certain Est. Gross Profit was reach by the Item

-- Go to Lists > Search> Saved Searches > New >
-- Click Transactions
-- Rename Search Title
-- On the Criteria tab> Standard Sub tab
    >>* Filter | Description
    >> Type | is any of Cash Sale, Invoice
    >> Tax Line | is No
    >> Shipping Line | is no
    >> Main Line | is no
    >> Date | is within Yesterday 
    >> Formula (Numeric) is less than .03 Formula = (NULLIF({estgrossprofit},0)/NULLIF({amount},0))    
-- On the Results tab
    >> Fields
    >> Date
    >> Name 
    >> Number
    >> Item
    >> Amount
    >> Est. Gross Profit Line
    >> Formula Percent | Formula = (NULLIF({estgrossprofit},0)/NULLIF({amount},0))
-- On Email tab > mark Send Emails According to Schedule and Summarize Scheduled Emails
    >> Specific Recipients sub tab-- Add Recipients
    >> Customize Message sub tab -- add custom message
    >> Schedule sub tab -- set the Schedule
-- Save and Run

NOTE:
** In this sample we used 30%
**User could use any date as see fit