While setting up your Retail POS account, you can choose accounting settings for cost method and cost control to best suit your business needs. The cost method you choose will heavily impact how your inventory quantity on hand and cost of goods sold are calculated. If you are unsure which cost method and cost control settings to choose, we recommend discussing with your accountant or bookkeeper.

1. Navigate to Settings > General Options and scroll to the Accounting section.
2. Click the dropdown beside Cost method and select Average cost or First in first out cost (FIFO).
3. Click the dropdown beside Cost control and select Default cost or Last recorded cost.
4. Click Save changes.

What's next?