Set Inventory Standard Cost

This FAQ will go over how to set a new inventory standard cost based on the purchase invoice received cost.

Set Inventory Standard Cost

Once a purchase invoice is posted, the “Set Inventory Standard Costs” button will be available.

After the button is clicked, a list will be shown with the “Received Cost” and the “Standard Cost”. Select the rows that should be updated and select “Update Costs”.

Set Inventory Standard Cost For A Single Line

The standard cost can be set on the line by viewing the line item options and selecting the “Set Standard Cost” button. Then choose to set the “Standard Cost” or “Standard Cost 2”.