In the event you need to change the cost of a product that you have already received into inventory, this can be accomplished quite easily.
- Open the Purchase Invoice, select the Detail tab.
- On the line item you want to update, select the Approved Price field (the middle green field)
- Change the Price to be the new price and not the price you received the product at.
- Tab into the next field to update the Amount Approved field.
- Save the Purchase Invoice
- Select the ‘Create Invoice’ button
You will receive a message stating:
One or more receipts have already been entered for line 1 of this purchase order (product “E10”). However, the unit cost for the receipt does not match the price on the purchase invoice. In order to post this invoice, the unit cost on the receipt must be changed to 6.75 in order to match the invoice.
Select the [Yes] option here.
Verify your changes by opening the Transactions tab of the related Product. You should see the unit cost here of the updated unit cost.