update item cosings in Item List
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Cindy Layland
Member Posts: 2 ✭
I changed the cost of an item but this changed the cost history of this item to the new cost. I cannot do a Adjust Qty / Value on hand as this company buys in / sell out does not hold stock. I am having to enter the new purchase cost on every bill I enter. How do I go about changing the cost so it automatically comes up when entering a bill.
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Cindy
Unless I misunderstand the way you've asked this question, if you are NOT using inventory, then I would expect that the next time your supplier sends you a Supplier Bill, there is always the possibility they will charge you a different value. Regardless, the Supplier's bill and GST and so forth needs to be what is on the Bill, not something you set in your system.
Now maybe you are referring to some internal standard cost you want to play with for cost of goods sold (COGS) or something, but I still would expect you need to enter information as stated on the newly arrived Supplier Bill, into your system.
Others; may have some other clue on this, or perhaps my answer will prompt you to explain in a different way to be sure we all understand your query.
Cheers
Gary
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Hi Gary
Thank you for replying to my message. Sorry if my explanation is confusing.
We have two companies, one manufactures our product which then on sells to our other company who is a wholesaler reason for not holding stock. We invoice out of the manufacturing company as the wholesale company sells to their customers so the entries are in & out. The cost of the products seldom change unless there is a review on the cost. My work colleague is not accounting minded and I want to set up these costs in the wholesale company to avoid error being made when taking up the bill. I did change the purchase cost in the item window but this then changed the cost history of the time.
When taking up bills in the manufacturing we use the method you mentioned.
Cheers
Cindy
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