Cost Price on Catalog
Cost Price of an SKU is the cost you as a seller incur in buying it from your supplier. It is a field found in two places in the system
Default Cost Price – used for general reference and as a default value for Supplier SKU Cost Price. It can be populated as and when you create a PO for a new SKU as well.
Navigate to Main Menu > Purchasing > Default Cost Prices
Cost Price on Supplier SKU – used for supplier specific reference and purchase order creation. The same SKU can be purchased from multiple suppliers at different cost prices. This becomes the Supplier Catalog.
Cost price on the SKU and Supplier SKU can be updated directly as well as while receiving your Purchase Orders.
Cost Price on Inventory
Cost Price and Landed Cost Price on inventory comes from any increment to inventory.
Landed Cost Price typically includes any shipping or packaging costs added to a Purchase receipt.
Cost Price and Landed Cost Price on inventory can be updated by any of the following routes:
1. Receiving a Purchase Order - We derive cost price of that inventory from the Purchase Order line item
2. Manually adding inventory: You increment inventory manually using the user interface by editing stock levels - Cost Price and Landed Cost Price is asked to the user for the quantity added there
Navigate to Main Menu > Inventory > Stock Levels > Select a Facility > Click on the pencil icon for the On Hand Value for required SKU > Enter a Value in Adjust Stock To > Enter Cost Price > Save
3. Online Channel Catalog and Inventory Fetch: We fetch catalog from an online channel along with stock values every time we detect a new item on the channel. In this case, we create a new SKU and increment inventory level in the backend.
Eg. If you have an SKU A in eBay with stock value 10. We create that SKU and increase inventory level to 10. In this case, we do not know the cost price in eBay. We have to make an assumption - hence we assume it to be the selling price.
Note: We are looking at how to further optimize it but if you want us to fetch the initial catalog and quantity from an online channel, we have no way of knowing the cost price and hence make an assumption.