Currently we can input selling price and purchase price in inventory items manually.
Is there a way they will be auto updated to reflect the last purchase invoice price and sales invoice price?
Can you also make it so that we can see the percentage profit in each item?
No, this is not currently possible.
There is a report for this, it’s called
Inventory Profit Margin under
Is it still not possible to automatically update inventory item prices?
You can do it now, see: Manager Cloud
The guides have gone through a major rewite in the last year. Judging from this thread, I guess this would be the one you’re after:
Check out the “GUIDES” at the top of this page (between THEMES and FORUM):
I’m hoping this pops up since it’s being added to an old post.
The program obviously knows what costs (prices) are entered when a new Purchase Invoice or Payment is put into the system - otherwise it wouldn’t be able to keep track of the average cost. It would be very helpful if that purchase price was updated in the Inventory item as well. Otherwise, the 'Purchase Price" column when searching for inventory items is pretty much useless. I entered prices in 3 years ago when I set up the system but those are way out of date at this point.
Currently, to keep things up to date, I have to enter the purchase invoice and then go to each inventory item and enter the new purchase price. That, effectively, doubles my time (at least) to enter the items and update the pricing.
I checked the guides and played with the items in my inventory and this definitely isn’t working so far. with all the new updates, could this be added?
Just because you buy something at a new price doesn’t mean you necessarily want to update the purchase price in the inventory item definition. Many businesses buy from multiple sources and different prices. It sounds like your situation is such that keeping a purchase price in the inventory item definition isn’t useful to begin with. They are optional and only serve as shortcuts if you regularly buy at the same price. They have no accounting purpose.
If I remove the purchase price from all items, will the column go away when I got into inventory and search for items?