When necessary, you can edit the cost of inventory items. This is useful if the incorrect unit cost was applied when adding an item to your inventory, which can impact profit and margin calculations in your reporting.

Editing the unit cost of inventory items

When you receive inventory from a purchase order or inventory transfer, the units you receive are grouped into a lot. Edits to the cost of the lot will adjust the cost of all units in the lot.

To edit the unit cost:

1. Navigate to Inventory > Item Search.
2. Locate the item and click it.
3. Click Inventory.

   

4. Under Inventory Lots, adjust the cost for the lot under the Unit cost field. Changes will be automatically saved. The value of inventory will be adjusted accordingly.

   

Editing the cost of an inventory lot will only affect the cost of units that are available (QOH), reserved, or in-transit from that lot. If units have been sold at an incorrect cost, the affected sale lines will need to be corrected manually.

Editing the cost of items in a sale

Editing the COGS after a sale can cause discrepancies in financial reports. Instead, refund the sale and reprocess it with corrected values.

You can use the Margin Per Line report to review your sale item margins and edit any individual transactions where an item was sold at the incorrect cost.

1. Navigate to Reports > Margin Per Line.
2. From the Margin Per Line report, check the Margin column for any transactions sold at the wrong cost.
3. Click the sale ID.

   

4. Click Lines.
5. Adjust the cost field of the sale item to correct its margin. This is displayed under either FIFO cost or Avg. cost, depending on your cost method. Changes are saved automatically.

Adjusting the cost from the Lines section of a transaction ID doesn’t affect the cost field in the Inventory section of the item, and vice versa.

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