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Cost price update

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sageNoob
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Cost price update

Post by sageNoob » 30 Jun 2022, 08:50

After posting invoice of any supplier. The quantity of product updated automatically but for cost price of that product I have to do manually in product and services field. Is there any way I can setup for Cost Price update also automatically?

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brucedenney
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Re: Cost price update

Post by brucedenney » 30 Jun 2022, 10:47

Posting a Supplier invoice has no impact on stock.

The cost of items going into stock is set on the Purchase Order and is the price at the time goods are received.

If you are not using Purchase orders, then you will be adjusting stock in, when you do that there is a cost price field you can enter the cost price in.

If you set a cost price on the product record, that price will be used as the default when you reorder the product on a purchase order unless there is a price list in place for the supplier.
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sageNoob
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Re: Cost price update

Post by sageNoob » 01 Jul 2022, 16:09

Can you please share documents with screenshot, so I can do testing from my side.

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brucedenney
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Re: Cost price update

Post by brucedenney » 04 Jul 2022, 09:50

Of what?
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Re: Cost price update

Post by sageNoob » 04 Jul 2022, 10:55

Full process from making purchase order to post supplier invoice in sage.

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brucedenney
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Re: Cost price update

Post by brucedenney » 04 Jul 2022, 13:02

If you get stuck on any part I could do more screen shots.

There are 3 steps

1/ Make a PO and put it on order
This will prompt you with the current cost price form the product record (unless you have a supplier price list) as the default price for the item but you can override this.
Screenshot 2022-07-04 135158.jpg
I will overrode the price from 1.60 to 1.50

so the product record still says 1.60
Screenshot 2022-07-04 135340.jpg

2/ Receive delivery of the goods into stock (or amend if receiving part of the delivery
Screenshot 2022-07-04 134723.jpg

These will go into stock at the price on the PO 1.50
Screenshot 2022-07-04 135527.jpg
And update the last cost price on the product record.
Screenshot 2022-07-04 135628.jpg

3/ Update the ledgers from PO this is the invoice entry.
This puts the invoice on the supplier ledger.
Screenshot 2022-07-04 135729.jpg
Screenshot 2022-07-04 135818.jpg
Press update if everything is correct, or edit if you need to change something, any change made to the unit price will not alter the price the item went into stock at as that happened when the good were delivered and can not be changed now. (Except by manually adjusting stock out and then in again)
Screenshot 2022-07-04 140058.jpg
Hit the save button and/or change any of the values needed.
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