Costing Maintenance

You can open this form from the Inventory Item Maintenance form or from the Data Entry menu.

Use the form to view and edit inventory item costs. The details you enter on the form depend on the costing options specified on the Module Control form. If you have selected the option to record costs at a location level, you can maintain costs by location. If you have selected the option to record costs at a master level, only one cost is maintained, which is applicable to all locations.

The company costing method is defined on the Module Control form. This applies to all items in the company, and is used to value inventory, calculate the cost of goods sold, and as a basis for pricing if a cost plus pricing method is selected.

The cost displayed defaults to item lines when you enter a transaction (except if a standard costing method is being used, and the option to Use as default for data entry is not selected on the Module Control form). If you are costing at a location level, Greentree Desktop checks for a location specific cost when you enter a transaction, using the location that is entered into the transaction line. If a location specific cost is not found, Greentree Desktop uses a non-location specific cost, otherwise it defaults to zero.

Note: You can also set up specific supplier quantity break and date range costs on the IN Supplier Details Maintenance form.

The number of decimal places of the cost value is determined by the Decimal Unit that is selected on the Module Control form.

Options Reference

Each option and field on the form is described below. Mandatory options and fields are highlighted in red.

Code/Description

Enter or select the item using either code or description. If you open the form from the Inventory Maintenance form, these fields are populated with the selected item in read-only format.

Location

If you are maintaining costs at a location level, select the location that the costs apply to. You can enter this information into the table, or into the form field. To create or edit costs that apply to all locations, do not enter a location.

This is enabled if you are entering a standard cost - for average and last costs, Greentree Desktop generates costs against a empty location.

Unit of measure

This defaults, in read-only format, to the stocking unit of measure for the item.

Average cost

Enter, view or update the average cost on the form field, or into the table. Average cost is calculated by applying the average cost formula — transaction quantity x unit cost — averaged over all transactions for the item.

You can only change the average cost if the option to Allow system cost change is selected on the Module Control form.

Average cost - Cost date

This is the date that the average cost for this item was last updated.

This is system-generated and read-only.

Last cost

Enter, view or update the last cost on the form field, or into the table. This cost is the cost of the last (increasing effect) transaction for the item.

You can only change the last cost if the option to Allow system cost change is selected on the Module Control form.

Last cost - Cost date

This is system-generated and read-only. It is the date that the last cost for this item was last updated.

Standard cost

Enter, view, or update the cost. If a standard cost method is being used, you must always enter or update this cost.

Standard cost - Cost date

This is system-generated and read-only. It is the date that the cost for this item was last updated.

Note: When the standard cost of an item is maintained, the on-hand value of the item is adjusted using a total cost adjustment transaction. Greentree Desktop generates this transaction and the batch number displays for your information when the cost is changed.

You can view cost adjustment transactions for the item on the Transactions tab.

Display active locations only

If you select this option, costs for inactive locations do not appear in the table.

Add new location cost

Click this button if you are maintaining costs at a location level, and want to add a new location cost if you are using the form instead of the table to enter the information.

Table

All costs of the item displays in this table.

Note: If the Point of Sale module is in use and the POS User Preferences for the user does not have the Inventory Item Maintenance option Costing selected, this form is not accessible from the Inventory Item Maintenance form.