Be sure to review the changes carefully. Recosting cannot be undone. As a backup, it may be prudent to use Print List for future reference.
The Re-Cost Item feature allows you to change the replacement cost of an inventory item without affecting the actual cost paid. This way, a retailer can consider what the cost of an inventory item would be if they purchased it again. Some reports have been optimized so you can choose to print either cost or re-cost. A retailer can recalculate certain business decisions based on a new value of the inventory, e.g., commissions or inventory stock reports.
To re-cost items, do so from the Administrative menu:
1. Select Administrative ► Reprice. The Reprice Items window will appear with the Criteria tab open.
2. From the Criteria tab, use the Item filter identify the items to re-cost. This could include narrowing to items that have been re-costed previously or not at all.
3. From the Change Re-Cost area, select Re-Cost x Factor, which recalculates the cost by multiplying the original cost for a factor to be specified on the Factors tab.
4. Select the Factors tab. Options for specifying cost ranges will appear.
The left column allows you to select a date for items older than which to re-cost. The right column allows you to enter an amount by which to change the cost.
For example, if you select a date 30 days in the past from Older Than and then enter 1.2 under Factor, items older than 30 days will have a cost increased by 20 percent. That is, The Edge will multiply the existing cost by the current amount plus/minus the change.
5. Select OK. You will be presented with a list of all items matching the criteria. This list will show the old information as well as the new information for you to review. If it is satisfactory, select Check All to finalize these changes. Alternatively, select those which you wish to change.
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Be sure to review the changes carefully. Recosting cannot be undone. As a backup, it may be prudent to use Print List for future reference. |
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•When dealing with bulk items, the re-cost is associated with the master SKU record by default. •When running the Commission report, look for the field Calculate Commission, which allows you to use this amount to determine commission, as opposed to cost or sale line. •This has no bearing on your QuickBooks accounts or financial records. |
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A specific Re-Cost report is available to show cost and re-cost along with the difference. The inventory item find function now offers re-cost-related filters as well. A number of inventory-related reports allow you to choose between inventory cost vs. inventory re-cost. |
