Add Costs or Change Costs

Updated by Cheryl Wallace

It is strongly recommended that costs be added at the beginning of your implementation when importing your data where possible, even if only replacement values or approximates costs are available. Adding costs to your database after the system has been in use is less efficient.
Transactions and transaction-based reports always carry the cost in effect when the transaction was created. If costs are subsequently added, costs appearing on transaction-based reports for those transactions will continue to display the original cost. Contact our Support team for more information.

Costs can be added once you have begun using your ToolHound database even if you aren't using the Purchasing module to include this information. Depending on the type of inventory, adding costs is handled differently.

  • For serialized items, enter the Cost on the Purchase Rental Information tab on the Serialized Items page if it was not entered previous when the item was added or received.
  • For bulk and consumable part numbers, create an inventory adjustment with the Cost.
  • Non stock part numbers do not carry a cost.

The value entered on serialized items or inventory adjustments will roll up to the Last Cost and Average Cost for both the Stocking Locations and General tab of the associated Part Number.

Change Last Cost and Average Cost values using the same methods.

Kits, regardless of the inventory type, do not carry a cost as each component in the kit has a cost.

See also:

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