How to fix incorrect average cost


Latest update: - Olivia Petersen

Objective

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.

Setup

  • Vend for Mac or PC
  • Open Office/Excel

Steps

  1. Products > Export List
  2. Save two copies of each file; one as a backup, and one to work with later
  3. In one file, filter out the product you wish to fix the average cost for
  4. Navigate to Products > Stock Control > Inventory Count
  5. Click on Add Inventory Count
  6. Give the count a name and choose an outlet
  7. Click on Partial Count
  8. Scroll down to 'Filter Products' and add the products you need to fix the average cost for
  9. Click Start Count 
  10. Do not count any products, click Review
  11. Click Complete. This will revert your inventory to 0 for the selected products.
  12. Click Submit

Create a stock order CSV file using one of the exported files you saved earlier.

  1. Open the second CSV file you saved earlier.
  2. Delete all columns except 'sku', 'handle', 'supply price', and 'inventory_outletname' 
  3. Rename 'inventory_outletname' to 'qty'
  4. Check that the supply price for the products are correct
  5. Save the file

Order and receive the inventory you had back into Vend using the above stock order.

  1. Products > Stock Control > Order Stock
  2. Name the order 'fixing average cost'
  3. Click Any for order from
  4. Select 'Don't auto-fill' from the drop-down menu
  5. Click Choose File and select the stock order CSV file
  6. Click Save
  7. Click Save and Send
  8. Click Receive
  9. Mark All Received
  10. Click Save and Receive

The inventory for your products will be added back into your store and the average cost will be reset to the supply price of the product.

Additional Information

What is average cost?

How to format your CSV file using Open Office

How to order and receive stock in Vend

 

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