Updating standard cost

updating standard cost-23

Overview Recently, I’ve been contacted by one of our readers on why their inventory cost was wrong.

This particular company utilizes standard cost and the inventory cost never matched their inventory G/L account.

Use the Stock Take feature to assess and correct any dry goods variances.

(While bulk wine inventories can be reported on at any point in the past using the ‘Vessel Contents As At Date’ Quick Report, currently there is no point-in-time reporting for dry goods inventories so it is important that you identify any variances, correct them before running your ‘Stock On Hand Valuation’ report for the end of the period.) In order to properly utilise the many reports available to you in Vinsight, it is important to understand the basis upon which they are calculated.

Note: this Addon also requires purchase of a Capscan Zapcode licence for each PC requiring postcode searching. The Standard Cost Price Import/Export Addon for Sage 200 allows you to maintain and update standard cost prices out-with Sage 200.