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Inventory Master cost field

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timjea View Drop Down

Joined: 12 Nov 2011
Points: 67
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    Posted: 12 Nov 2011 at 12:40pm
In the inventory Master screen there is a cost field.  There are several vendors I can buy this product from, and the price varies by vendor.  I have filled in the Supplier Catalog for 3 vendors at their respective prices.  No vendor is set as the preferred vendor as this item is generically equal, I simply include when placing an order to meet order minimums.  Which cost from which vendor should I place in the Inventory Master cost field?  This field obviously can’t be blank or it messes up the cost calculations on BOM’s and also creates errors on the Sales P&L reports.
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BillD View Drop Down
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Joined: 01 Jul 2011
Location: Nevada, US
Points: 474
Post Options Post Options   Thanks (0) Thanks(0)   Quote BillD Quote  Post ReplyReply Direct Link To This Post Posted: 12 Nov 2011 at 1:49pm
Please do not use blanks in numeric fields. The Inventory Item Master screen, the Unit Cost is one of them. The cost is an everage or the highest cost to you. Whatever fits you best. The cost can be recalculated using Purchasing Utilities (Orders/Purchasing/Utilities menu), tab #8. This cost is just a guideline. It is used in estimates. The actual cost is recorded at the receiving time based on PO price. It can also be inputed directly in the Cost column on the Receiving screen.
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