• Registered: 02/05/2010
  • Posts: 8

Topic: Editing Standard Cost

Hello.

    The system let you edit the Standard Cost value and think this value must me read only. Made some purchase and have a Standard Cost of $1,200.00, then make a sell of 2 products at $2,000 each. In Profit & Loss report, Income is $4,000.00, Standard Cost is $2,400.00 Calculated Return is $1,600.00. Then I edit item Standard Cost and set it to $0.0. Make the same sale, now in  Profit & Loss report, Income is $8,000.00, Standard Cost STILL is $2,400.00 Calculated Return is $5,600.00.

    This is wrong, we think there is no real valid reason to change Standard Cost values, well; al least for us. That's why we think this is a "bug" the value MUST be read only.

    What you think ?

    Regards, Oscar

  • Registered: 12/25/2007
  • Posts: 2,448

Re: Editing Standard Cost

No. Standard costs can change for various reasons, so it have to be editable.

If you want to block access to this feature to some users, fix role setup related to this user. Standard costs are under Banking & GL Transactions section.

Janusz

  • Registered: 02/05/2010
  • Posts: 8

Re: Editing Standard Cost

Hello Janusz,

    Good, we tought about that option but did not found under items/inventory section. Now we know smile

    What situations have you (or other members) faced to change Standard Costs? I'm not an cost accountant or inventory expert; but for us, modifing that value is dangerous as we must keep valuation based on purchases, and avergage calculation done in FA is good for us.

    Thanks for the block access tip.

    Regards, Oscar.

  • Registered: 12/25/2007
  • Posts: 2,448

Re: Editing Standard Cost

I'm not accountant too, but I can imagine that one day all of bicycles in my inventory had to be repainted on pink color, just because since January no other color is accepted by my customers smile. So I have to grow up the standard cost with the cost of repainting.
Janusz

  • Registered: 02/05/2010
  • Posts: 8

Re: Editing Standard Cost

Hello Janusz,

    True, also in an initial FA setup with no purchases and items in inventory could be another option.

    Oscar.