Product Costing FAQ

Modified on Thu, 30 Jun, 2022 at 2:07 PM


Q:  When I'm entering a new product where do I input the cost?

A:  Under the supplier section of the product.  This is where you identify how much it costs to order the product from a supplier.  

That said, costing is significantly different with Cloud Retailer than say Microsoft RMS (if that is where you migrated from).  By setting the supplier cost you are not setting the cost that will be applied to product when it's sold at the POS, the only way to do this is to create a purchase order for that product and the PO will contain the products cost.  That purchase order (and future purchase orders) will be the basis for costing history that will be used to determine your cost of goods sold (COGS).


Q:  What if I don't want to input purchase orders but I DO want costing to be applied to product sales?
A:  There are a few responses to this:

1)  Cloud Retailer has the ability to integrate with MANY supplier systems, especially in certain industries and the system can be setup to automatically import supplier invoices.  At that point, your costing data is basically maintained for you.

2)  You could create a fake purchase order with a significant quantity of product and set the cost.  You can also set a specific date on the PO and it will retroactively apply those costs to past sales, even if they've already occurred, and will automatically update your sales reports to reflect appropriate costing


Q: I just received a Purchase Order or Transfer and the total cost on it does not match the Inventory Transactions Report.  Why is this?
A: That report gathers information from sources that are updated by background processes in Cloud Retailer.  So, it will not show what happened 30 seconds ago.  If, however, you run it hours later and the numbers don't match, please contact us.

Q: Can I receive the same product from multiple suppliers at different costs?
A: Yes you can. If you are receiving a product with the cost associated with another supplier, this only means that the product had never been received by the select supplier before. It is estimating the last known cost of the product from any supplier. Once you receive the product from the selected supplier, the cost with then be associated with the supplier.

Here is a video showing how to manually adjust a products cost and/or quantity on hand:

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