92 42 111 290 290 contact@lumensoft.pk

How to Change Item Cost Price

To change the item’s cost price, navigate to the main menu. Select Items>Change Item Cost Price

Now select the items whose cost price you want to update.

NOTE: three options have been given to add specific items. To know more about how to select specific items using these options, refer to this article.

Once you have chosen the items, a new section will appear on the screen, showing the selected items in a tabular format.

Expand Show/Hide Cost Price Change Options link

Now you have the option to change the retail price through different methods

From the Action drop-down menu, select the action:

Selecting action

Percentage of Retail Price: If you want to increase or decrease the price of a product by a certain percentage of the retail price, select this option.

To increase the price: Enter the desired percentage of increase plus one hundred in the value field. For instance, if the product’s current price is 2600 and you intend to increase it by 10% of the retail price, enter 110 in the Value field, and the new price will be 2860.

For reducing the price, deduct the desired percentage you wish to decrease from 100, and then input the resulting value in the value field. For instance, if you intend to decrease the price by 5 percent, you should enter 95 in the value field.

Change of retail price

Then click Update to save records.

Percentage of Cost Price: Likewise, if you wish to adjust the price by a specific percentage of the cost price, simply choose this option. For example, if the cost price is 500 and you input 120 in the value field, the new price will reflect a 20 percent increase over the original cost price.

Alternatively, by entering 80 in the value field, the price will decrease by 20 percent of the cost price.

Change of cost price

Then click Update to save records.

Latest GRN Net Purchase price: If you have already updated the price of an item in the GRN section and you want the same price for each item listed select this option. On clicking Generate Price button the same price of the item in the GRN screen is loaded into the new cost price column of the table.

Latest GRN purchase price

Then click Update to save records.

 

in Items & Attributes