Adjust Item Price

Ven

Hello,

How do I adjust the COGS price on multiple items to cater for fluctuation in the Australian Dollar?

I choose the Unit Cost in the Adjust Cost of the Items, yet when I apply the the price adjustment, it increases the Current Price (Sales Price) of the item rather than Cost Price.



Any ideas how I can update the Cost Price rather than the Sale Price?

Regards,
Ven

Janelle Knight

Go to inventory adjustments and click the "value adjustment" box on the bottom left hand side and then alter your total cost of your goods (based on qty). Maybe a hint would be to used your exchange gain/loss account for adjustment. This will change your AVG cost which is what you want but not your unit cost in your item setup as this doesn't get affected on any reports anyway. Double check the avg cost on a couple of items to ensure its what you want.

Sally McIntosh, Accredited Consultant

Hi Ven,
The screen you are in is purely for updating Sales prices.
As Janelle said, the inventory adjustment is the only method to update your "average cost" cost price.
Kind regards,
Sally McIntosh (sally@samsolutions.com.au)