Create custom calculations INSIDE a Pivot Table

How to create calculations WITHIN a Pivot Table to avoid having to build formula OUTSIDE of a Pivot Table and then continuously have to copy down/ delete as the size of the Pivot Table changes.
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⏲Time Stamps
00:00 Do calculations WITHIN a Pivot Table
00:20 Setting up the Pivot Table
00:51 Calculate net profit in a Pivot Table by summing various columns
01:15 Using Calculated Fields in Excel Pivot Tables
02:10 New field in the Pivot Table that DOES NOT exist in the original data
03:02 Edit/ delete calculated fields in Excel Pivot Tables

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