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Cost Prices

Cost Prices Ex Tax can be entered to give you a profit margin beside each price level.

• Standard Cost - This is the initial cost of the goods, a manual “Base Cost” that can be loaded against the Stock Item. It will not automatically fluctuate with stock received, so if it needs to be changed for any reason, you will need to change this.

• Last Cost - This is the last purchase cost of the goods received.

• Average Cost - This is calculated by the following equation:
  
  
  
  Basically, it computes the total purchase cost of the particular item and divide by the total quantity of the item purchased.
  If the average cost increases rapidly, it generally indicates the value of the goods is significantly different to the last purchase.

If the Stock Item is Indirect, these fields will be updated automatically from the Direct Item they are linked to.

Recalculate Sell Prices

This function is available in Idealpos v8 Build 9 and onwards.

When this option is selected and the Cost Price is changed, Idealpos will automatically recalculate the Sell Price of each Price Level.

The following options are available when recalculating Sell Prices:

• Don't Recalculate Sell Prices - When this option is selected and the Cost Price is modified, the Sell Price for each Price Level will not be recalculated.
• Based on Profit % - When this option is selected and the Cost Price is modified, the Sell Price for each Price Level will be recalculated based on the Profit % that has been entered for each Price Level.
• Based on Profit $ - When this option is selected and the Cost Price is modified, the Sell Price for each Price Level will be recalculated based on the Profit $ that has been entered for each Price Level.

To use this function, select the desired Recalculate Sell Price method.

Modify the Standard Cost, Last Cost or Average Cost.

Note that you will need to modify the Cost in the Cost field that corresponds to the setting configured in Global Options > Sales > Miscellaneous > Stock Item Profit Based On.

E.g. If the 'Stock Item Profit Based On' is set to Average Cost, then you will need to modify the Cost displayed in the 'Average Cost' field in order for the Sell Prices to be recalculated.

After the Cost Price has been modified, click the cursor into a different Cost field.

The Sell Price for each Price Level will be recalculated based on the Recalculate Sell Prices option and the Cost Price that was entered.

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