Overview

This document will review the process of updating a suppliers standard cost by a specified percentage (i.e. 5%).

Note:  We recommend performing a backup of your inventory via the Price Import/Export.  This will give you a restore point in case of any issues.

Procedures

To perform a Cost Update on your inventory, click the Inventory Menu and select the Cost Update Wizard.  The Cost Update Wizard screen will open.

Click the By Criteria radio button and specify the Department, Class and Fine Line or Vendor for the cost update.

Then click the Next button.  This screen will allow you to select the update options.

On this screen you will want to select Percent From Current under the Cost Change column for Standard Cost.  Ensure the Increase radio button is selected and enter 5% in the Amount column. If you want your Price Levels associated with the increased items to update by the % change between the old cost and the new cost, select the Adjust Selling Prices. Then click the Next button.

On the next screen, click the Review button to display the pending update changes. The Cost Change Tab will show you the percent change between the previous cost and the new cost.

After reviewing the changes and confirming they are satisfactory, click the Update button. 

If instead the cost update will just be a imported file then please see the related article.