• From: Nigeria
  • Registered: 09/08/2007
  • Posts: 126

Re: Standard Cost Changes and as such result to Negative Profit in Report

Thanks kvvaradha,

I am most grateful for your prompt reply. I will attach the report for you to see. Then I am thinking I will install the latest version maybe version 2.4.10 or 2.4.11 and get my opening balances and enter them and start afresh.

When I do this, do I still need to enter any standard cost or I just enter the purchase prices and the selling prices and let the software do the calculation for Standard Cost or I just enter a standard cost which can be changed say once or twice yearly.

With these scenarios, what will be the resultant effect on this very report "INVENTORY SALES REPORT". This report is very critical to our business as it tells us what Product is fast selling and what product we make good profit.

I will be expecting your reply.

Thanks

Popsicles12

  • From: Nigeria
  • Registered: 09/08/2007
  • Posts: 126

Re: Standard Cost Changes and as such result to Negative Profit in Report

Hello All,

Thanks for your reponses so far.

@ Apmuthu, you suggested I do a new Installation and see if this Standard Cost Alteration still persist. I have installed version 2.4.11 and it still persist.

Please this might sound stupid. How do I enter cost of Good so that when I do Inventory Valuation Report, It uses the standard cost to calculate and not average cost.
Cost when I got value different from my Standard cost which I know is average cost, I updated the Standard Cost but its not reflected in the Report.
Please help out.

Thanks

Popsicles12

  • dz
  • Senior Member
  • Offline
  • From: Pakistan
  • Registered: 10/07/2019
  • Posts: 50

Re: Standard Cost Changes and as such result to Negative Profit in Report

Please refer my reply on https://frontaccounting.com/punbb/viewtopic.php?id=9786

popsicles12 wrote:

Hello All,

Thanks for your reponses so far.

@ Apmuthu, you suggested I do a new Installation and see if this Standard Cost Alteration still persist. I have installed version 2.4.11 and it still persist.

Please this might sound stupid. How do I enter cost of Good so that when I do Inventory Valuation Report, It uses the standard cost to calculate and not average cost.
Cost when I got value different from my Standard cost which I know is average cost, I updated the Standard Cost but its not reflected in the Report.
Please help out.

Thanks

Popsicles12

  • From: India, TN, Karur
  • Registered: 05/16/2014
  • Posts: 1,195

Re: Standard Cost Changes and as such result to Negative Profit in Report

popsicles12 wrote:

Hello All,

Thanks for your reponses so far.

@ Apmuthu, you suggested I do a new Installation and see if this Standard Cost Alteration still persist. I have installed version 2.4.11 and it still persist.

Please this might sound stupid. How do I enter cost of Good so that when I do Inventory Valuation Report, It uses the standard cost to calculate and not average cost.
Cost when I got value different from my Standard cost which I know is average cost, I updated the Standard Cost but its not reflected in the Report.
Please help out.

Thanks

Popsicles12


While creating inventory or its from category the  COGS account set to use it and also inventory account..

From that it will make the entry.

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