Inventory Master cost field

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   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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timjea Members Profile Send Private Message Find Members Posts Add to Buddy List Newbie Joined: 12 Nov 2011 Points: 66	Post Options Post Reply Quote timjea Thanks(0) Quote Reply Topic: Inventory Master cost field 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.

BillD Members Profile Send Private Message Find Members Posts Add to Buddy List Senior Member Joined: 01 Jul 2011 Location: Nevada, US Points: 474	Post Options Post Reply Quote BillD Thanks(0) Quote Reply 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.