To change the item’s cost price from the main menu go to:
Once the screen has been loaded you have to select those items whose cost price you want to update.
In order to select these items, three options have been provided to add specific items.
Note: If you want more information on how to select specific items using these three methods. Click on view this article.
After selecting those items a new section will be added on the screen containing the selected items in a tabular form.
Now you have the option to change cost price in a number of ways:
From Action drop down menu, select the action:
Percentage of Retail Price: If you want to increase or decrease the price of a product by a certain percentage of retail price, select this option.
To increase price: Enter percentage of increase plus hundred in the value field. For example, if the price of a product is 2600 and you want to increase it by 10% of the retail price, enter 110 in the Value field and the new price will become 2860.
To decrease price: Subtract the percentage you want to decrease the price by from 100 and enter in the value field. For example, if you want decrease price by 5 percent, you will enter 95 in the value field.
Then click Update to save records.
Percentage of Cost price: Similarly, if you want to change price by a certain percentage of the cost price, select this option. For e.g., if the cost price is 500 and in the value field you enter 120, the new price will show a 20 percent increase in the old cost price.
And if you enter 80 in the value field, the price will decrease by 20 percent of the cost price.
Then click Update to save records.
Latest GRN Net Purchase price: If you have already updated the price of an item in 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 GRN screen is loaded into the new cost price column of the table.
Then click Update to save records.