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Inventory Master cost field |
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timjea ![]() Newbie ![]() Joined: 12 Nov 2011 Points: 67 |
![]() ![]() ![]() ![]() ![]() 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 ![]() Senior Member ![]() Joined: 01 Jul 2011 Location: Nevada, US Points: 474 |
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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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