Making the Settings changes

After emptying the stock from your warehouse continue to View – Settings – Company – Settings per Module – Product – Price Processing. Here you will need to make the following settings:

The Basis for cost price should be set to Purch. Price.

The Accounts update of stock value should be set to:

If you select the Individual rule the individual settings are made at product level in each product’s Product Card under the Settings tab. The settings that will apply to the product will be those you make under Settings for posting.

You can find an example of expensing product costs when the item is removed from stock below.

Freight and Forwarding Costs

If you have selected the option Purchase cost to include freight and forwarding from the supplier’s invoice then this can lead to the cost:

If you would like freight and forwarding to be included in the basis, you need to select the following option as well:

Basis for entering stock value in balance sheet is to include purchase costs (in addition to purchase price). You can find an example of expensing including freight and forwarding below.

Duty and Freight Invoices

If you have selected the option Purchase cost to include costs entered for freight and duty invoices then this can lead to the cost:

If you would like duty and forwarding to be included in the basis, you need to select the following option as well:

Basis for entering stock value in balance sheet is to include purchase costs (in addition to purchase price). You can find an example of expensing including duty and forwarding below.

Selection of both Freight and Forwarding Cost Expensing, we well as for Duty and Freight Invoice Costs

If you have selected the option Purchase cost to include costs entered for freight and duty invoices then this can lead to the cost:

If you would like to follow the first alternative, the following setting has to be selected:

Basis for entering stock value in balance sheet is to include purchase costs (in addition to purchase price).

You can find an example of expensing freight and forwarding costs as wells as costs from freight and duty invoiced below.

Posting Adjustments to Stock Levels to your Accounts

If you would like to post adjustments to the stock levels to your accounts, you can activate this by selecting the following setting:

Post adjustments to stock levels to your accounts

This setting means that two extra journal entry lines are added to stock movements that are created when the goods are received and despatched. Note that the setting for Post the

cost of goods sold when they are taken out of the warehouse has to be selected in order for this stock level adjustment postings to work. This option combines the expense at

purchase method with the expense on sale method.

You can find an example of posting adjustments to stock levels to your accounts below.

Overruling Default Accounts

By default, the following N/Cs are allocated:

If you would like to overrule default N/Cs for your accounts, you can do so under the Settings tab in the Product Card for the relevant product.

Remember that the N/C has to be set up in your Chart of Accounts in order for you to be able to select it from the drop-down list.

Returning goods to stock

When you have made all settings according to your requirements, you need to return your goods into stock again. At this point in the process it may be useful to take another backup

so that you can restore to this point if you need to later and not need to make the settings changes again.

Go to View – Warehouse – Stocktaking and register your stock based on the Stocktaking report you printed earlier. Next, click on OK and confirm that the stock take should be

updated. Following the update, go to View – Warehouse – Warehouse and check that the products are listed with the correct stock levels and values.

Important! The purchase price from the price calculator will be listed as cost price.

Note! We recommend that the purchase price is used as the basis for the cost price in the Order module. You select this setting by going to View – Settings – Company – Settings per Module – Product – Price processing.