For inventory items as well as non-inventory items (where you are buying and selling the product) to have a markup field that could either be a percentage increase on cost price or a set amount in your currency. So when you change the purchase price it automatically updates the sale price!
@dalacor you can do this very easily by clicking on batch update button , and after copying the data to excel you can apply the formula for the desired column .
That won’t work for me as I don’t batch update prices. What happens is a client will request a quote and I go to suppliers, check latest price for the product in question and update cost and sale price in inventory item. Hence my request as I have to keep calculating the sale price every time.
As far as I know, the cost price of an inventory item should be based on the purchase invoice.
So the actual price which you did pay, not the price you are expecting to pay the next time you buy these inventory items.
How do you manage to alter the cost price in your bookkeeping according to the new information you got from your supplier?
Or are you using a spreadsheet?
Average cost and
Purchase price do not refer to the same thing.
Average cost of an Inventory Item is calculated by Manager using the amounts on the Purchase Invoices.
When an Inventory Item is created or edited, there is an option to enter a
Purchase price and a
Sales price. If those prices are entered, they will show in columns on the Inventory Items screen. These are the prices that @dalacor is updating, and for which he suggests a markup field.
@dcVest has explained concisely what I mean. The point of my feature request is to have a set markup whether in amount, percentage or whatever, so I only have to update the cost price field when I need to purchase an inventory item again. Its annoying to have to calculate the sale price every time I alter the cost price.
Thanks for the explanation, I now see what you mean.
Changing the purchase price does not affect directly the value (average cost) of the item.
As I understand now, you have to check the purchase price when making a quote, let’s call it moment A.
A week later the buyer agrees to the quote and you want to purchase the item(s), let’s call it moment X.
In the mean time the purchase price could have been changed.
Do you have the possibility to alter the sales price again (if purchase price is higher) when sending the buyer the confirmation of the order?
Between moment A and X other quotes and confirmations of orders can be made.
So you keep on changing prices in your bookkeeping? Not only when making quotes but also when making the sales order?
Just curious, so don’t feel obliged to answer.
No it would be more a case of a client wants a laptop in March, I quote, buy and sell them a laptop in March. Then in August another client wants the same laptop, so I check then price (5 months later) and adjust accordingly, then quote the client, buy and sell.
My business is 90% IT Support - Sales is a sideline and I have a fair number of products that I sell - projectors, whiteboards, laptops, computers etc. So when I need to sell a particular inventory item, the price has almost always changed since I last bought it. I only buy on demand. In addition laptop models change frequently so I want the ability to clone inventory items (another of my feature requests) and then change the part code, laptop name and alter the specs and then change the cost price which automatically updates the selling price.
That is why your quote is based on a marked up price, plus an expiry date.
Product A cost 100 and you quote it as 120 and valid for 30 days.
If the quote is accepted within 30 days and the cost has risen to 105, your mark up is reduced to 15.
If outside the 30 days then you reserve the right to adjust the 120 if you feel that’s applicable.
Here, enter the percentage of the difference between the purchase price and the selling price that would automatically be counted constantly … I’m not sure if I was clear enough on this issue … Thanks
It constantly maintains a difference of 50% between the average price and the selling price…
Is this a question, suggestion, or what?
Quite clear, your suggestion is this, that a new feature be added to Inventory Items where a tick box “Average Cost” is added next to “Purchase Price” and when ticked the “Purchase Price” would be auto filled with the Item’s latest average cost. In addition, when ticked a percentage field would appear allowing users to nominate a percentage markup, this markup when applied to the “Average Cost - Purchase Price” would calculate the “Sales Price”.
This is similar in concept to an existing topic under the Ideas category - Cost Price Sale Price Markup Field Idea. So I will combine your excellent illustrations to that topic.
Yes, exactly, Brucanna … thank you.
Good day guys. I’m new here, please indulge me with this request.
I have read that there are a few requests to add a mark up field in a sales order that needs to pull thru to the sales invoice, but should not print on the issued invoice.
I have added an image of what i mean. This will be great in the end to see the mark up total per job that was billed. Also i will make life easier just to use a dropdown list to select the mark up, rather than to work out the mark up by hand. ie a printjob might be marked up by 10% to allow for handling fees etc…
@Francois8331, you are introducing a separate subject. This topic is about calculating sales prices from purchase prices in the Inventory Items tab.
What you are suggesting converts the
Unit price field on sales invoices to a
Unit cost field. In that situation, Manager would no longer have a unit price to display on the sales invoice, because your approach doesn’t allow one to be entered or calculated.
An easier suggestion, if your pricing approach calculates costs rather than marked-up prices, is to simply use the calculator feature in the
Unit price field. See https://www.manager.io/guides/18222.
Thanks for the quick response. I will try your suggestion.
Please consider this added function in an upcoming update. I will be greatly appreciated.