Fill in missing costs

“Products you sell or stock without a cost or a price. Profit and margins are only right once every product has its cost.” A product without a cost also cannot be checked against a minimum margin.

Steps

1. Open Products › Missing costs

   The cards count what is missing: Missing a cost (“Sold or stocked without one”), Missing a price (“They sell at nothing on the till”), Stock without a cost and Lines sold without a cost. Each product in the list says what is missing, such as No cost, with when it was last sold and received and what you last paid for it.

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2. Include new products if you need them

   The list leaves out products that have never moved. Switch on Include products never stocked, received or sold to see them too.

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   Steps 2 to 4 on one screen.

   

3. Type the cost

   In Cost, what you pay for one, before VAT. The row shows the Last purchase cost and Average cost when Kila knows them. The Margin shows at once.

4. Tap Save

   Kila says the product is saved and what the cost did, such as Baraka gift bag saved: “No lines sold without a cost to re-cost.” The product leaves the list.

To give several products a cost at once: “Tick products to give them a cost together.”, then tap Use last purchase cost or Use average cost.

Good to know

What saving a cost does: “The product takes the cost; stock on hand that came in without one takes it too (its value goes into Inventory, from the owner’s equity); and every line already sold without a cost is re-costed, so profit and the books agree.”

What if

You can type some costs but not others

“Products with stock or sales post to the books: owners and people who post journals enter their cost.” Ask one of them to enter those.

A product has no price

Missing a price counts them: “They sell at nothing on the till.” Each row has the product’s Price next to its cost.

Related

• Set minimum margins: Margin watch counts products with No cost yet.
• Fix prices below the minimum: once every product has a cost.