You may wish to change cost prices retrospectively. You can change cost prices directly through the GRN viewer as described in this article, or directly through the transaction audit as demonstrated here. A few reason why you would need to do this:
- You processed sales on products before giving them a cost price. This would effect your figures, especially reports as the cost price at the time of sale was 0.
- You forgot to change, or gave the wrong cost price at the time of receiving in stock. TRIMS records the cost price in the audit trail at the time of receiving in stock.
- Changing your cost price on a product after the fact will not change historic data as it doesn’t know what to change, and you may have multiple entries where you received stock in at different prices.
If you make a mistake and need to change your cost prices, please do the following:
Steps to change the cost price
Firstly you need to audit the product that you want to change, ensure you have the correct date period set so you can find the entries. The cost price column is hidden by default so right click any column header (a) and turn on the cost column in the menu shown. Highlight the entry that you wish to change (b) and right click > Modify Cost. Enter in the correct cost price (.c) and enter in a descriptive reason as to why you are making the adjustment (d), clicking OK will apply the change.
What effect does this have?
The entry is changed in the audit log and the Weighted Average cost price is recalculated on your most current price record to reflect the change (e) . The products current cost price (f), will only change if you tick ‘Also set as current cost’, depending on your reason for adjusting the cost price you may want or not want to do this. If the cost price was completely wrong then you should update your current cost price. If for example, the cost price change was because you received a discount on the goods after you had booked them in, the current cost price may still be valid so you may want to leave the cost price the same. You can also adjust your current cost price manually using the modify tab on the product.