You can reset a products' average cost to match its supply price. This will fix your cost of goods (COGS) going forward, but will not retroactively fix previous reports.
We recommend doing this when not selling or your store is closed, so that your inventory levels are not affected by this process.
- Vend for Mac or PC
- Open Office/Excel
Overview: You will be removing the inventory of the products you are adjusting the average cost of. Then you will add the inventory back in using a Stock Order which will recalculate the average cost for each product.
You will need to repeat the below steps for EACH OUTLET in your store in order to correct the average cost for a product.
If an outlet is missed, the average cost will not be corrected.
- Navigate to Products -> Products
- Use the filters to locate the product you wish to fix the average cost for and select it in the check column
- Click Export List and select CSV format
- Save two copies of this file; one as a working file and another as a backup
- Once this is done, navigate to Products -> Stock Control -> Inventory Count
- Click on Add Inventory Count
- Give the count a name and choose an outlet
- Click on Partial Count
- Scroll down to Filter Products and add the products you need to fix the average cost for
- Click Start Count
- Refresh the page until the total number of products in the count match the amount of products you are wanting to reset.
- Do not count any products, click Review
- Click Complete. This will revert your inventory to 0 for the selected products. Then click Submit
Create a stock order CSV file using one of the exported files you saved earlier.
- Open the backup CSV file you saved earlier.
- Delete all columns except 'sku', 'handle', 'supply price', and 'inventory_outletname'
- Rename 'inventory_outletname' to 'quantity'
- Check that the supply price for the products are correct
- Save the file
Order and receive the inventory you had back into Vend using the above purchase order.
Important: With large Purchase Orders it will take longer to load.
- Navigate to Products -> Stock Control -> Order Stock
- Type in "fixing average cost" as the Order Number or as a Note
- Click Import via CSV and select the stock order CSV file you created in part two
- Click Save
- Click Send Order
- In the pop-up window enter your email address and click Send
- Click Receive
- Click Mark All Received
- Wait for this to update the Stock Order
- Click Save and Receive
The inventory for your products will be added back into your store and the average cost will be reset to match the supply price of the product.