Cost Prices

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A cost price can be set up per product and is optional. Cost prices are captured to allow Gross Profit (GP) to be calculated when processing invoices. This can then be used to calculate the commission. A cost price can be increased via the "Cost Price Increases" screen.

SetupPrices.jpg
Before You Start:
  • Create a product (Products)
  • Cost Price Attributes Explained:

    Product

    Select the product for which you are setting up a cost price. If the product is not available in the drop down, you can create it by selecting the button next to the field.

    Contract Term

    The cost price applies to all contracts with this term. The options available are displayed based on terms set up via the “Contract Terms” screen. If the term is not available in the drop down, you can create it by selecting the button next to the field.

    Unit Price

    This is the cost price per unit.

    Effective Date

    A cost price will only be effective from this date.

    Code

    A system generated code is allocated to each cost price created. This code can be overwritten with a unique code. This code will be used to uniquely identify pricelists created and is not used during billing validation, billing processing or updating your accounting system.

    Related:

  • Contract Prices
  • Selling Prices
  • Pricelists
  • Frequently Asked Questions