My product’s cost is wrong, how do I change it in inFlow On-Premise?

View the inFlow Cloud version of this article

Before changing your cost, this will depend on what costing method you are using in inFlow On-Premise. Not sure? Check your costing method by going to the Main Menu > Options > Settings and look under Costing Method. Once you know what costing method you’re using, click below to see how to change an item’s cost with that method.

In all the methods, you will need to look at the item’s Cost History window to make the changes to your cost. Click into the product record and click on Cost beside it.

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Moving Average Costing Method

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  1. On your product record under the Cost and Price section, click on the Cost button.
  2. The moving average cost history window should show up (see picture above). Click on the Create Adjustment button at the bottom left of the window.
  3. Set the correct cost and set the date of that cost. If you set it to an earlier date, inFlow will perform the necessary corrections to your profit reports (for example if you’ve sold the item a couple of times last month under an incorrect cost, you can input the cost adjustment to a date just prior to those sales, and inFlow will use that cost for those sales orders)

Manual Costing Method

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  1. On your product record under the Cost and Price section, click on the Cost button.
  2. You should see a list of costs and the dates they were changed.
  3. Click on any one of them to change the date you want, and the cost for that date.

FIFO/LIFO Costing Method

For these two methods, you may notice that the cost box in the product record is greyed out and does not allow you to edit. Costs are only calculated via purchase orders, so if you need to change the cost, you have to navigate to the purchase order that was made for that costing info.

You can just update the vendor price/ other details on the purchase order, then save the changes and the cost will change. To see a short demonstration please see this video.

inFlow Inventory
Archon Systems
w,
+1.866.923.4974
260 Carlaw Ave #397
Toronto, ON, M4M 3L1
Canada
May 11, 2018

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